The government announces that foreign direct investment will cross $ 3 billion this year

Foreign direct investment will cross $ 3 billion this year, according to registered data, indicating that the country has captured $ 1.17 billion in investment by July 2021.

The government’s report on studies by the Latin American Economic Commission (ECLAC) makes the Dominican Republic the first target country for foreign direct investment (FDI).

“The epidemic has not diminished the Dominican Republic’s appeal to investors,” the government said in a statement.

This indicates that forecasts show that the country could end the year with about $ 3,362,310,173. “The nature of the investment will vary from one sector to another.”

“We have received projects from the United States, Spain, Holland, Germany, France, Canada, Turkey, Mexico, Puerto Rico, Venezuela and El Salvador,” the statement said.

He argues that these countries plan to invest in tourism, telecommunications, energy, agribusiness, construction and entertainment.

He explains that among the sums raised are Novel Properties’ Spanish Tourism Investment Plan and Ridge Partners Linea Noroste’s investment plan in the energy sector.

“The novel, which is recognized as one of the best real estate investment companies, plans to invest $ 434 million.

He argues that the reasons for making this appeal in the midst of the fight against the epidemic are related to the vitality of the economy, political stability, social peace and the commitment of President Abinadar’s administration to transparency.

“The report of Bofa Global Research, the service arm of Bofa Securities, the investment banking arm of Bank of America, predicts 10% growth in gross domestic product (GDP) for the Dominican Republic by 2021,” the document said.

The publication highlights that the successful progress of the National Vaccine Program puts the country in a position to be among the few countries where the target population has been fully vaccinated this year.

The government predicts that “along with the growth of the US economy, the government’s comprehensive monetary policy and the spread of positive sentiment from local businesses will be a positive stimulus for growth.”

This appreciation of the economy is shared by the International Monetary Fund, which shows a strong economic recovery this year.

“The fact that it is the largest economy in Central America and the Caribbean, the geographical proximity to the United States, and a privileged natural wealth and investment-backed government guarantee that we will continue to accumulate exceptional figures based on foreign direct investment,” he concludes the document.