Dominican Republic and U.S. Officials discuss semiconductor sector investments

Washington.- In a bid to bolster trade relations and entice investments in the semiconductor industry, high-level representatives from the Dominican Republic government convened with senior officials from the United States Department of State and the United States Agency for International Development (USAID).

Led by Minister of Industry, Commerce, and MSMEs, Víctor -Ito- Bisonó, a Dominican delegation including Johannes Kelner, Vice Minister of Free Trade Zones and Special Regimes of the MICM, and Samuel Conde and Ike Tavares from the Dominican private sector, traveled to the United States for the crucial meeting.

On the American side, officials such as José W. Fernández, Undersecretary of the Department of State, Lisa Kubiske, Deputy Undersecretary of State for Finance and International Development, and Brian Quigley, Director of Private Sector Engagement of the Department of State, alongside representatives from USAID, participated in the discussions.

The meeting focused on outlining the plans and strategies that the Dominican Republic aims to implement in the upcoming months to attract investments in the semiconductor sector. The Dominican delegation showcased various projects and strategies aimed at positioning the country as an appealing destination for companies in this field. Additionally, they identified challenges such as the necessity to enhance human capital preparation and formulate a robust strategy to promote the Dominican Republic as a manufacturing hub for the semiconductor industry.

Moreover, collaborative initiatives between USAID and the Dominican Republic regarding nearshoring were explored, aiming to bolster the country’s capacity to capitalize on opportunities presented by this trend in global trade.

U.S. officials responded positively to the plans presented by the Dominican delegation, affirming that the country is making strides in attracting investments in the semiconductor sector. They reiterated their commitment to aiding the Dominican Republic in its endeavors to allure companies interested in establishing operations within the country.

Minister Bisonó emphasized that the meeting marks a significant milestone in strengthening trade relations between the Dominican Republic and the United States. He stressed that it lays the groundwork for future collaborations in investment and economic development. Furthermore, he reiterated his dedication to working closely to foster economic growth and job creation in the Dominican Republic, leveraging opportunities in strategic sectors like semiconductors and nearshoring.