Dominican Republic: a rising hub for Microchip investments
Washington, DC.- The Dominican Republic is gaining recognition as a prospective investment hub for the global semiconductor and printed circuit board industry, specifically in the realm of microchip assembly, testing, and packaging (ATP).
The Information Technology and Innovation Foundation (ITIF), a prominent think tank for emerging technology sectors based in Washington, DC, has released a feasibility study assessing the country’s potential participation in the semiconductor value chain. The study suggests that the Dominican Republic possesses the necessary conditions to become a strategic player in emerging technology industries.
Semiconductors, often referred to as the “new oil of the modern economy,” are integral components of advanced technologies.
Victor Ito Bisonó, the Minister of Industry, Commerce, and MSMEs, visited Washington, DC, to conclude an agenda that included the unveiling of the feasibility study at the ITIF headquarters.
This event signifies a significant step in the government’s efforts, led by President Luis Abinader, to diversify the economy, ascend the value chain of advanced technologies, and generate new and improved employment opportunities within the country. As one of the primary investment destinations in the region, the Dominican Republic offers a conducive environment for investments in the semiconductor industry and the microchip assembly, testing, and packaging (ATP) sector.
The Dominican Republic is actively establishing avenues for international cooperation to facilitate workforce training, in collaboration with institutions such as Infotep, ITLA, Educa, and other universities. Additionally, the country is investing in research and innovation programs focused on the manufacturing of advanced electronics.
Minister Bisonó, accompanied by business associations including Conep, AIRD, Adozona, Amcham, and media representatives, participated in the presentation of the ITIF report. The speakers included officials from the CHIPS Office of the United States Department of Commerce, representatives of multinational technology companies, industry associations, and experts.
The feasibility study is anticipated to underscore the Dominican Republic’s significant potential in this favorable context, positioning the country as a crucial investment destination and a key partner in the semiconductor industry in a relatively short timeframe.
With the CHIPS Act and the substantial investments announced in the sector, the United States is expected to experience an unprecedented boom in chip manufacturing. The Dominican Republic aims to position itself as a close and reliable alternative for these processes, especially considering the limited number of assembly, testing, and packaging (ATP) facilities in Latin America.