Economy June 19, 2023 | 9:37 am

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Bisonó reiterates Dominican Republic lives a favorable climate for investment

San Pedro de Macoris.- Minister of Industry, Commerce, and SMEs, Víctor Ito-Bisonó, reiterated that the Dominican Republic possesses all the necessary conditions to continue attracting new investments and businesses. He emphasized the favorable business climate and President Luis Abinader’s vision to create better mechanisms for entrepreneurs and investors to develop their ventures on Dominican soil.

Speaking at the inauguration of two industrial warehouses in the San Pedro de Macorís Industrial Free Zone, the minister expressed confidence in the country’s ongoing strength as an ideal investment destination due to the government’s vision and the existing favorable conditions.

The first inauguration of the day was the expansion of the Aging Cellars and the workshop for the recovery and reconstruction of barrels of Rums and Bebidas del Caribe Yazoo. Minister Bisonó highlighted the private sector’s demonstration of confidence in continuing to invest and develop projects in the Dominican Republic.

Luis Enrique Yaver, president of Rums and Bebidas del Caribe Yazoo, mentioned that due to sustained growth, the company exports its products in bulk to over 55 countries and produces more than 375 different products, establishing itself as an internationally recognized brand.

In 2022, Yazoo exported over 20 million dollars, representing 95% of its sales. The new industrial warehouses, with an investment of 1.45 million pesos, occupy 6,400 square meters of land and generate 50 new direct jobs. Ulises Rodríguez, director of Proindustria, acknowledged the job creation in the San Pedro de Macorís industrial park, thanks to the support of President Luis Abinader and the private sector.

The second inauguration featured a new industrial warehouse of the Ron Barceló company, also located in the same industrial park. Minister Bisonó emphasized that the Ministry of Industry, Commerce, and SMEs actively works on designing public policies that support the strengthening of the country’s business climate, attracting more investment.

Alberto Nogueira, director of Ron Barceló, announced an investment of 10.5 million dollars in the expansion, including the ship, barrels, and alcohol. He also mentioned that production capacity has increased by 24%. Ron Barceló’s products have established the brand as the most exported dark rum in the world, selling to over 90 countries. Additionally, it represents the top-selling spirits brand in Spain in terms of value and volume.

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