Economy December 27, 2023 | 8:11 am

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Investment funds boost employment and economic growth in the Dominican Republic

Santo Domingo.- The Dominican Association of Investment Fund Administrators (ADOSAFI) has highlighted the significant impact of investment funds on the country’s economy and job market. As of June this year, these funds have created 10,515 direct jobs and 19,569 indirect jobs, totaling over 30,000 employment opportunities. This substantial contribution to job creation demonstrates the crucial role of investment funds in fostering economic growth and stability.

ADOSAFI also reported that, by June of this year, investment funds have injected $1.7 billion USD into the productive sector. This investment accounts for approximately 1.6% of the Dominican Republic’s Gross Domestic Product (GDP), underscoring the substantial role of these funds in the national economy.

Santiago Sicard, the executive president of ADASAFI, emphasized the multifaceted benefits of investment funds. According to Sicard, these funds not only generate returns for investors but also create wealth for the broader community by generating jobs and providing families with stable sources of income. This approach aligns with building a stronger and more prosperous nation.

The $1,705 million investment has been channeled into 131 projects across 14 different types of productive activities. These projects span a wide range of sectors, including tourism, sustainable energy, industrial parks and free zones, construction and real estate, health, and other areas integral to the lives of Dominicans.

Investors, including pension funds, are increasingly interested in projects contributing to the country’s growth and the well-being of its population. ADOSAFI remains committed to monitoring and reporting the positive impacts of these investments, ensuring transparency and accountability.

The growth of investment funds and the stock market in the Dominican Republic is changing the landscape of investment, allowing pension savings to be directed towards profitable, future-oriented activities. These investments also yield immediate, tangible benefits, enabling broader participation in projects and activities that were once limited to a select few. This shift marks a significant advancement in the economic empowerment of the Dominican workforce and the nation’s overall development.

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