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Dominican Republic is located in the Caribbean, between Cuba and Puerto Rico. To the North is the Atlantic Ocean, and to the South, the Caribbean Sea, to the East is the Mona Channel and to the West is the Republic of Haiti. It occupies an area of 48,442 km². Its Capital is Santo Domingo and the country is made up of 31 provinces and one National District.
Official Language: Spanish
Legal Currency: Dominican Peso
Population: 10.2 million
Population Density: 210 Inhabitants/km²
Unemployment Rate: 14.2 %
Government: Democratic Republic
Constitutional President: Mr. Danilo Medina Sánchez
Vice-president: Dr. Margarita Cedeño de Fernández
In 2012, the Dominican Republic, measured through Gross Domestic Product (GDP), registered growth of 3.9 %, better than the regional average (3.0) and the world economic average (3.1), according to the IMF. During this period, the service sector accounted for (61.9) of the GDP, industry (31.9), and agriculture accounted for (6.1), in absolute terms, the wealth of the Dominican economy for 2012 was US$59.9 Billion, and the per capita GDP was 5.8 billion.
Dominican Republic’s strategic location, allows for excellent access to the Americas and the rest of the world, and has the greatest number of air and sea routes in the Caribbean. Currently there are over 250 daily international flights from 9 airports, as well as 12 sea ports that allow for faster shipment of goods, which translates into more competitive costs. Add to this a highway system that quickly and safely links different parts of the country, all of this has made us into the country with the second best transport infrastructure in Latin America and the Caribbean.
In relation to Foreign Direct Investment (FDI), the Dominican Republic has become the regional attraction center for (FDI), totaling US$17.6 Billion during the last nine years, reaching unprecedented annual flows since 2004.
Last year, foreign investment reached US$3.5 Billion, exceeding for the first time ever the US$3 Billion mark in foreign investment attraction in the Dominican Republic, with investments in the commercial, tourism, mining, real estate, telecommunications, infrastructure, and Free Zones sectors.
During 2012, attracted investments in the Dominican Republic, represented 45 percent of total foreign investments in the Caribbean, Consolidating itself as the largest FDI receptor in Central America and the Caribbean and seventh in Latin America.
Why Dominican Republic?
The Dominican Republic, strategically located in the heart of the Caribbean, offers excellent access to the Americas and the rest of the world, with the greatest number of air and sea routes in the region, as well as one of the best transportation infrastructure in all of Latin America.
Our country possesses uncountable natural resources which make us an investment and tourism destination by excellence, while we assume the responsibility of developing our manufacturing, agribusiness, and service industry capacity with the support of human capital that is characterized by its efficiency, and good nature.
Thanks to our dynamic economy, legal security, competitive incentives, and an attractive business climate in general, Direct Foreign Investment in the Dominican Republic, surpassed US$5 Billion during the years 2012 and 2013, with investments mainly in service sectors, (hotels, restaurants), manufacturing, real estate, telecommunications and mining, among others.
His Excellency the President of the Dominican Republic, Mr. Danilo Medina, in his firm commitment to promote foreign and national investment, through the Export and Investment Center of the Dominican Republic (CEI-RD), is pleased to offer all necessary support, accompaniment and assistance, for the development of your business in the country.
This is the time to invest in the Dominican Republic.
Dr. Jean Alain Rodríguez
Secretary of state
Executive Director CEI-RD
As part of the incentives offered by the Dominican Republic to create excellent business opportunities, we rely upon foreign investment Law No. 16-95, signed on November 20, 1995, as an answer to the government’s acknowledgement, of the importance of foreign investment for socio-economic growth as a job and cash flow source.
Through this law we are attempting to attract foreign investors, offering investors protection and assistance all along the way. This law promotes and foments the principles of equal treatment for national and foreign investors, offering the same legal framework without discrimination.
Main incentives granted by Law 16-95 are:
- Equal treatment to foreign Investors
• 100 percent benefit repatriation
• Free funds exchange
• Free access to international currency through local banks through the Central Bank of the Dominican Republic
• Quick and simple registration procedure at CEI-RD
Support from CEI-RD
The Export and Investment Center of the Dominican Republic (CEI-RD) is the government agency in charge of export promotion and of foreign Direct Aid (FDI).
Through the Invest in DR unit, we assist investors who are exploring business opportunities in the Dominican Republic.
We have a qualified and knowledgeable team specialized in various economic sectors, which allows us to provide potential investors with high valued information and advice. We offer investors, free of charge, and with complete confidentiality, specialized services during each stage of their investment process, from certificate issue forms, to the execution of statistical studies. In addition we also have available the One Stop Investment Desk (VUI-RD), a tool to streamline the investment process.