Fernandez's visit resulted in a productive meeting, during which both officials addressed crucial issues for the economic development of both nations.
Santo Domingo—They underlined the opportunities presented by the commercial exchange for the Dominican Republic in the current global and economic context.
The Minister of Industry, Commerce and Mipymes, Víctor Bisonó, and the U.S. Assistant Secretary of State for Economic Growth, Energy and Environment, José W. Fernández, discussed in a meeting the potential of the Dominican Republic to attract investments in the semiconductor sector.
The officials discussed nearshoring, underlining the opportunities it presents in commercial exchange for the Dominican Republic in the current global and economic context, recognizing the country’s potential as an attractive destination for companies seeking to bring their operations closer to the North American markets.
Bisonó also expressed that the country is focused on the supply, cutting, test, and packaging (ATP) stages of semiconductor and printed circuit board (PCB) manufacturing, representing a significant opportunity for the Dominican economy.
The meeting also valued the importance of Decree 324-24, issued by President Luis Abinader. This decree declares the semiconductor industry’s promotion, innovation, and development a high national priority, demonstrating the Dominican government’s commitment to developing this strategic industry.
Bisonó expressed his gratitude to Undersecretary Fernández for his valuable support in developing strategies to attract this high-tech industry to the country.
“Fernández’s support has been fundamental in guiding our actions in this direction and positioning the country as an attractive destination for this cutting-edge industry,” said the minister.
The meeting, which was also attended by the general director of Customs, Eduardo Sanz Lovatón, and the deputy director of the Dominican Port Authority, Alan Checo, together with Bisonó, dealt with the security of the country’s ports under the nearshoring scheme and the commercial exchange between the two countries.
They also discussed the importance of ensuring security in port operations to facilitate international trade and attract investment, considering that the United States is the Dominican Republic’s main trading partner, representing approximately 56% of Dominican exports.
During the meeting, the officials also discussed the importance of the Alliance for Development in Democracy (ADD), emphasizing the fundamental role of this initiative in strengthening regional cooperation, promoting investment, and fostering sustainable economic growth.