Economy November 17, 2023 | 10:58 am

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Abinader predicts foreign investment will reach 4.4 billion dollars this year

Samaná.- President Luis Abinader presided over the inauguration of a new luxury hotel on Cayo Levantado, a development representing a €50 million investment in the Samaná province. This upscale hotel is set to create over 500 direct job opportunities in the region.

During the inauguration event, President Abinader highlighted the positive trends in foreign investments in the Dominican Republic. He noted that foreign investments are anticipated to reach $4.4 billion this year, up from $4.1 billion in the previous year. This upward trajectory in foreign investments signifies economic growth and increased investor confidence in the country.

Abinader expressed his gratitude to the Piñero Group for their commitment to promoting tourism and providing employment opportunities to around 7,000 Dominicans. He also mentioned that the tourism sector is expected to receive over $30 billion in investment next year.

David Collado, the Minister of Tourism, revealed that investments totaling 1.7 billion pesos are currently underway in Samaná, with completion expected in January and February 2024. He also predicted that 2023 would be a record-breaking year for tourism, with over 10 million tourists expected to visit the country.

Collado commended the government’s responsible approach to reopening the country to tourism during the pandemic, which played a pivotal role in the sector’s recovery. He highlighted the international recognition that the Dominican Republic has received for its remarkable rebound in the tourism industry.

The newly inaugurated Cayo Levantado Resort boasts 218 rooms and represents a significant investment of over €50 million. It focuses on sustainability, wellness, promoting local culture, and preserving the natural environment. The resort offers unique amenities, including “Yubarta,” a space for personal development inspired by the local humpback whales of Samaná.

This resort has also become a source of employment for the province and surrounding areas, creating approximately 500 direct jobs, with a majority being Dominican citizens, contributing to the region’s economic and social growth.

Cayo Levantado Resort’s emphasis on sustainability extends to environmental conservation efforts, including landscaping and revegetation work on the island, the implementation of paperless check-in, the elimination of single-use plastics, and the use of clean energy sources like photovoltaic panels and waste biodigestion system.

The resort aims to raise environmental awareness among its guests through programs and activities organized by the Eco Bahia Foundation, encouraging a deeper connection with the natural environment.

The opening ceremony was attended by various government officials, including the Minister of the Environment, the governor, the senator, the mayor of Samaná, the commander of the Navy, the directors of Apordom and Politur, the Spanish ambassador to the Dominican Republic, and representatives from the tourism sector.

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