Senate President advocates for nearshoring to boost Dominican economy

Washington, DC.- Senate President Ricardo de los Santos has urged the Dominican Republic to capitalize on nearshoring opportunities in its trade relations with the United States. Speaking at the seventh edition of Dominicans in the Capitol, an initiative by U.S. Congressman Adriano Espaillat, he emphasized the country’s strategic location and its progress in becoming the Caribbean’s logistics hub through advanced technical and technological training centers.

De los Santos highlighted the Dominican Republic’s favorable investment climate, backed by strong legal frameworks such as the Open Skies agreement, new Maritime and Civil Aviation Laws, and regulations on customs, money laundering, and asset management. He stressed that the government is working to simplify business establishment processes, reduce bureaucracy, and enhance foreign direct investment.

He also underscored the benefits of nearshoring, particularly in reducing costs, increasing efficiency, and strengthening supply chains in a world affected by economic crises and geopolitical tensions. De los Santos participated as a panelist in discussions on the diaspora’s role in investment and nearshoring, alongside other Dominican senators and U.S. officials.