ProDominicana event honors foreign companies for economic contributions

Santo Domingo.- In a notable event organized by the Center for Export and Investment of the Dominican Republic (ProDominicana) and led by President Luis Abinader, 11 foreign companies were honored for their significant contributions to the Dominican economy. These companies were recognized for generating jobs, facilitating foreign exchange, transferring technology, promoting exports, and enhancing international competitiveness.

ProDominicana Executive Director Biviana Riveiro Disla emphasized that these recognitions reflect the companies’ commitment and confidence in the Dominican Republic. She highlighted that their investments not only stimulate economic growth but also create quality jobs and foster sustainable development. President Abinader congratulated the companies, underscoring the importance of their efforts and dedication, which have helped the Dominican Republic achieve historic levels of foreign direct investment (FDI) and regional leadership in this area.

Special guest Mr. Ismail Ersahin, Executive Director of the World Association of Investment Promotion Agencies (WAIPA), discussed global FDI trends and the positive performance of the Dominican Republic in attracting investment.

The Dominican Republic has led FDI inflow in Central America and the Caribbean, with a historic 53% increase in 2022, surpassing US$4,098.8 million for the first time. By the end of 2023, FDI flows reached US$4,390.2 million, a 7.1% increase from 2022, marking a new milestone. This period also saw a consistent yearly FDI inflow exceeding US$3,000 million from 2021 to 2023. The first quarter of 2024 set a new record with US$1,268.5 million in FDI, a 1.5% year-on-year increase.