Economy August 6, 2021 | 7:47 am

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Foreign direct investment to Dominican Republic falls 15.4% on pandemic

Santo Domingo .– The COVID-19 pandemic caused foreign direct investment (FDI) in the Dominican Republic to fall 15.4% last year, compared to 2019, although the drop was lower than the average recorded by Latin America and the Caribbean .

The inflow of FDI to the country in 2020, the first recipient of investment in the Caribbean subregion, totaled US$2.6 billion, resulting in a reduction of US$467 million when compared with the US$3.0 billion that entered the previous year.

The result is mostly explained by the fall in investment in mining and telecommunications (-91% and -139%, respectively).

In relation to the latter sector, it presents highly variable investments and registered a particularly high amount in 2019 (more than three times the 2010-2018 average).

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