Foreign investors to build 3,500 hotel rooms: State-owned bank

Santo Domingo.- The head of the State-owned Reservas bank on Wednesday said a business team has met in Berlin with groups of investors who plan to build 3,500 hotel rooms in the Dominican Republic.

Enrique Ramírez said the tourism business clusters don’t have operations in the Dominican Republic, but would invest to expand into the Caribbean destination.

“New relationships and contacts have emerged within meetings, for which we’re very pleased with Reservas’ presence in the sector, as an example of the government’s commitment to facilitate investment and develop our country’s tourism industry," he said.

Ramirez spoke at the Berlin International Fair ITB 2015, where he heads the financial delegation which promotes Dominican Republic as an attractive destination for investment.

He said Reservas can finance and advise on investments together with other agencies such as the Tourism Ministry and the Export and Investment Center (CEI-RD), to bolster the tourism sector. "Our country walks with firm steps, with the efforts by the Government and the private sector to reach the target of obtaining 10 million tourists to the country annually."