Economy May 27, 2020 | 8:26 am

Country can take advantage of US companies’ supply chains

L. Abinader. File

Santo Domingo.- American Chamber of Commerce of the Dominican Republic (AMCHAMDR) president Ramón Ortega, raised during his opening speech of the virtual “Cycle of Candidates 2020.”

This week participated opposition candidate Luis Abinader, who said that the country can take advantage of the supply chains of North American companies.

He explained that “Nearshore” is the outsourcing of some of the business services or activities to countries that help reduce costs for lower wages and other conveniences.

The President of AMCHAMDR stated that the country must take advantage of the fact that North American companies have accelerated the process of creating supply chains that are more resistant and closer to their market, minimizing geopolitical risk.

“At AMCHAMDR we have identified the opportunity for the Dominican Republic to benefit from the great asset represented by its geographical location, installed capacity, and the laws and regulations on incentives and logistics. For years we have worked, through our Trade Facilitation Committee, to capitalize on these conditions to create a competitive advantage and thus increase foreign investment,” Ortega said.