China vows US$820.0M for Dominican Republic projects

Santo Domingo.-  With a vow to invest US$820.0 in various major projects in the Dominican Republic, China on Thurs. kicked off its 2017 edition of the Commercial Exhibition of the People’s Republic of China in the Dominican Republic, aimed at bolstering the friendship with the Dominican State and promote bilateral economic-trade cooperation.

The fari boasts the presence of over 30 companies from 10 Chinese cities, presenting products, equipment, technology and brands

The opening of Expo China took place during an event held at the Convention Center of the Dominican Fiesta hotel, headed by the representatives of the Chinese Council for the Promotion of International Trade (CCPIT), the Office of Commercial Development of the People’s Republic of China in the Dominican Republic, and the China Chamber of Commerce of the Dominican Republic, the organizing institutions of the event.

Among the cities present figure Beijing, Shanghai, Canton and Fujian, exhibiting their products in a total area of ​​2,000 square meters, where brands such as Huawei, AVIC International, Brilliance Auto and other well-known Chinese companies will display motorcycles, vehicles, articles electronic, construction materials, machinery, articles of daily consumption and others.

Fu Xinrong, representing the People’s Republic of China, said that “the links between our two countries are increasingly frequent and closer, because we are the second trade partner of the Dominican Republic and the Dominican Republic is China’s second trade partner of the Caribbean zone.”

She said that every day there are more Chinese companies that have shown interest in developing projects in the country, and cited three important ones that are about to be carried out, such as a waste incineration plant and a gas plant at a cost of US$270.0 million; a multifunctional hydraulic project of 350 million dollars, and a project of 10,000 low-cost houses for 200 million dollars, which in total 820 million dollars of investment.

For his part, CCPIT vice president, Wang Jinzhen, said the institution “is willing to make its efforts together with Dominican partners to promote the development of bilateral economic and trade relations and to diversify cooperation in the areas of science and technology, culture and communication, and other dynamic areas.”

He said that the economic and commercial exchange between both nations has grown rapidly. “And this is why the total volume of trade reached almost 1,700 million dollars in 2016, because the country has become China’s most important trading partner in Central America, and in turn, China is one of the most potential export markets for the Dominican Republic.”

The official said he’s convinced that the rapprochement in economic and trade relations between the two countries, the vigorous development of the Chinese economy and the sustained growth of the Chinese consumer market will bring unlimited business opportunities to the Dominican business sector.

Save the date

Expo China will continue until Saturday, Nov 11,  from 9am to 8pm, free of charge to the public.