Spanish businessmen highlight the advantages and challenges of investing in Dominican Republic

The topic was addressed by executives from the Official Spanish Chamber of Commerce in the Dominican Republic (CAMACOESRD) and the Dominican Week in Spain (SEDE) platform during the Corripio Communications Group’s weekly luncheon.

Pérez emphasized that, at a time of global polarization, the country serves as a leading example of stability.

“Definitely, and I say this in every forum: The eyes of the world are on the Dominican Republic. It’s a country with excellent economic, social, and political stability, and it’s rare in these polarized times to find a country with these attributes that give investors great comfort knowing their investment is guaranteed,” Pérez said.

He emphasized that in recent years, Spanish foreign investment in the country has diversified, focusing not only on tourism but also on strategic sectors such as renewable energy, especially photovoltaics, infrastructure, and communications.

Meanwhile, Maldonado stated that investments in the electricity sector have been driven by the experience of Spaniards in the country since the privatization of the electricity system.

He added that the incentives provided by the Renewable Energy Law have been one of the attractions for attracting Spanish investment. Another advantage he mentioned is the double taxation treaty between the two nations.

Challenges

Regarding areas that need improvement to maintain the Dominican Republic’s attractiveness to investors, Pérez highlighted the issue of service infrastructure.

“If we want a country to grow, we must invest in roads, water pipelines, transportation, and other sectors, and we know the government has that vision,” Pérez said.

At this point, Campo argued that education must be improved, particularly in developing skills in science and technology, as well as in linking innovation and entrepreneurship.

He indicated that there are new investments that require specific qualifications in human resources. “We need to give it a little more emphasis on developing talent with these very specific qualifications… I think it will make an important difference when it comes to continuing to be a benchmark in Latin America and the Caribbean,” Campo said.

Pérez, Maldonado, and Cabré emphasized the need to maintain tax incentives to maintain regional leadership, citing countries such as Colombia, El Salvador, Jamaica, and Costa Rica that are making significant efforts to attract investment.

“It’s important to have clear laws and maintain incentives because another country could emerge; for example, Jamaica and Costa Rica are offering everything. We have the advantage of being leaders, so let’s not lose that advantage,” Cabré said.

To reinforce this, Maldonado cited the fact that the film industry was affected when the elimination of incentives was proposed in the failed tax reform, after insisting that policies must be firm and give companies time to mature.

Event in Spain

Spanish business leaders have announced this year’s SEDE, which will take place from 27 to 31 March in Madrid and Asturias. Various activities will promote the country’s attributes and products. One of these activities is the strength of the banking system, with its anti-money laundering regulations, advances in digital banking, and the growing creative industry. Prominent Dominicans in Spanish society will also be recognized.

Officials and business leaders from various sectors in the Dominican Republic will participate in the fair.