Economy July 12, 2016 | 3:52 pm

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Commonwealth nations are Dominican Republic’s top foreign investors

Santo Domingo.- The nations of the British-led Commonwealthaccount for the highest foreign investment in the Dominican Republic, with capitalof around US$6.2 billion in the past 10 years in sectors such as mining, rum distilleries energy among others.

Fernando Gonzalez Nicolas, president of the Roundtable ofCommonwealth countries in the Dominican Republic provided the figure on Tuesdayin his opening remarks for the seminar "The impact of legal security onforeign investment in the Dominican Republic."

The business leader said three of Dominican Republic’s topfive exports markets are Commonwealth countries.

He said foreign investment is not only a source of wealthbut also the transfer of technology and knowledge. "In 2015 the maindestinations for exports from the Dominican Republic were the United States,with US$4.5 billion; Haiti, US$1.0 billion; Canada, US$700 million; India, US$565million and Great Britain, 127 million dollars."

Gonzalez said Canada, India and Great Britain are Commonwealthmembers where the country exported bananas, tobacco, sugar, rum, cocoa andindustrial free zones and other items.

Speaking in the seminar held at Sheraton hotel, Gonzalezsaid Dominican Republic’s exports to all Commonwealth countries was nearly US$1.5billion in 2015, for which “the protection of foreign investment is not onlythe responsibility of the State but also of society which must demand clarityfrom its government.”

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