Vice President Raquel Peña. (Presidencia.gob.do)
Santo Domingo.– The Investment Promotion Cabinet, created on September 23, 2020 by President Luis Abinader, will be headed by the Vice President of the Republic, Raquel Peña, who also chairs the Health Cabinet.
This is established by decree 849-21, of December 29, 2021, which repeals decree 143-09, which creates and integrates the Investment Cabinet for Strategic Projects, of February 20, 2009, and any other provision of the same or lower hierarchy that is contrary to it.
The Cabinet has the objective of “promoting within the Public Administration the policies, guidelines and mechanisms so that, in an articulated and agile way, processes can be developed in order to encourage investment towards strategic sectors that contribute to the improvement and elevation of the competitiveness of the country.”
In addition to the Vice Presidency as head and coordinator of the Cabinet, it will also be made up of the Export and Investment Center of the Dominican Republic, which will serve as secretary; as well as the ministries of the Presidency; Finance; Industry, Commerce and Mipymes; Tourism; Environment and Natural Resources; Economy, Planning and Development; Foreign Affairs; the General Directorate of Public-Private Partnerships and the Reservas Bank.
Some of its main functions are to evaluate and propose policies that affect the improvement of the country’s investment climate, submit to the competent authorities proposals or suggestions regarding the issuance of regulations and standards that are considered necessary for the promotion of investment.