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/ Trade and economy |
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Foreign investors find very attractive the package of facilities that the country offers to successfully develop business projects. It includes modern transportation, capable workforce, economic stability and a telecommunication infrastructure that can only be compared to developed nations.
The Dominican Republic's economic statistics show a progressive growth in exports. The Export and Investment Center (CEI-RD) announced an increment of foreign investment up to September 2008 of more than US$2 billion, equals to 35% more compared to the same period in 2007; when statistics also showed a considerable increment from the previous year (2006), attributed to the DR-CAFTA trade deal in effect since 2007.
President Leonel Fernandez is working together with international institutions and other Latin American and Asian presidents to support several projects related to health, energy and education. Also constitutional legislation is under revision to reinforce and include modifications to protect the environment and important areas for the nation's security and integrity.
The official currency (Dominican Peso - DOP) has
remain at a stable rate of RD$30 - 36 per dollar, since the financial
crisis of 2003-2004 when each dollar was exchanged at RD$50.00 approx.
The Central Bank implemented several strategies to stable monetary
base with proactive policies that helped reduce rapidly yearly inflation.
However, the effects of the world crises have not excluded this
half island. Especially the United State slowdown has been leaving
its traces in the tourism industry and exports. The United States
purchases the majority of Dominican Republic exports followed by
Western Europe, Canada and Japan. The high domestic and foreign
debts as well as high petroleum prices are two important factors
that have put a ceiling on economic growth.
The country offers other assets to increase the advantages
of industrial investment:
 Attractive fiscal incentives
Political and economic stability
Abundant, qualified labor force at highly competitive rates
Transit of the most important air and maritime commercial routes in the world
Excellent infrastructure in ports and airports
Easy access to transportation through modern roads and highways
Advanced data communications and networks
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