The Dominican Republic strategic location situated in the heart of the Caribbean, converts it as a convenient point of access to markets in the global business. It gives the country the potential of becoming a hub for trade and investment as well as a logistical centre for the large trans-Atlantic ships.
The country has a highly developed system of industrial free zones, efficient networks for shipping and distribution channels and one of the most advanced telecommunications systems in Latin America. It has an efficient transportation network, enabling expeditious and reliable cargo shipment and travel, excellent road systems, nine international airports (with over 70 flights daily to and from the United States and Europe), several domestic terminals in important trade locations and twelve modern shipping ports, including the Multimodal Caucedo Port, which is BASC certified.
The Dominican Republic offers a high standard of living. It should be mention, as a key factor in the investment industry development, that the country is highly competitive in terms of costs, experienced and qualified human resources, economical and political stability, open market access with the benefits of Free Trade Agreements with United States, European Union and the CARIFORUM countries. Also, the Dominican Republic offers special tax and import duty treatment, which present a broad variety of incentive and benefits in order to develop opportunities for business in the country.
In a nutshell:
• Stable economic and political environment
• FDI Friendly environment – Open Market
• Sound legal framework for foreign investment
• One (1) of Six (6) to hold Trade Treaty with EC and USA Five (5) Trade Treaties (DR-CAFTA,EPA, ALC RD –CARICOM, ALC –RD Central America, AAP – RD PANAMA)
• Competitive, qualified/Trainable labor force
• Modern transportation infrastructure
• Advanced and reliable telecommunication infrastructure
• Supporting Industries & services, Competitive costs for doing business
• Near Shore location
• Quality Life Standards
• Flexible Rules of Origin
Economical and Political Stability
Over the last decades the country has experienced consistent robust economic growth and stability – fruits of the government’s constant effort to ensure development and promote investment in the country’s markets.
Sound Legal Framework
The country has an open and commercially integrated economy, which is supported by a developed legal framework that promotes economic stability and security for market participants.
The term foreign investment has been broadly defined to include traditional capital, registered trademarks in technology and other fields and financial instruments. The investment legal framework sets forth the principles of equal treatment allowing foreign investors to benefit from access to business opportunities in any sector of the national economy.
An open trade agenda has given the country access to approximately 878 million consumers worldwide. The country is a founding member of the World Trade Organization and has entered into many free trade agreements with its trading partners – including the Dominican Republic-Central America Free Trade Agreement with the United States (DR-CAFTA) and the Economic Partnership Agreement with the European Union and the CARIFORUM countries.
The main opportunities for business development in the Dominican Republic are within the sectors of telecommunications, infrastructure, renewable energy, agribusiness, call/contact centres, software development, Real Estate and tourism.
There is an extensive network of industrial free zone parks which houses more than 600 international companies, all of which operate under a tax-free regime and special customs treatment. The Santo Domingo Cyberpark specializes in Information Technology related to different industries, including software development and computer design and manufactured technology products.