Economy May 11, 2023 | 2:41 pm

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The Dominican Republic attracted 4,010 million dollars in foreign direct investment in 2022

Santo Domingo.- Foreign Direct Investment (FDI) in the Dominican Republic reached a record high of $4.01 billion in 2022, representing a 25.5% increase compared to the previous year. The data, provided by the Center for Export and Investment of the Dominican Republic (ProDominicana) based on Central Bank (BCRD) figures, marks the largest inflow of FDI in the country’s history. The report highlights that 35% of the total FDI came from Central America.

The tourism sector attracted the highest amount of FDI last year, reaching $1 billion, another record-breaking figure. The energy sector followed closely with $753.4 million, while commerce and industry received a total of $599.5 million. The director of ProDominicana, Biviena Riveiro, attributes this significant growth to the country’s social, legal, political, and economic stability, which has caught the attention of foreign investors.

The record-breaking FDI inflow signals positive investor sentiment and confidence in the Dominican Republic’s business environment. The country’s policies and stability have positioned it as an attractive destination for foreign investment, contributing to economic growth and development.

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May 18, 2023 8:47 am

The government should regulate the tourism industry to reduce corruption, increase transparency, and use more of those funds to invest in infrastructure, basic social services, clean water, education, and improving the energy sector. These improvements could raise the quality of life for the poorest Dominicans in the country.