The Dominican Republic has been recognised by the International Monetary Fund as a sound economy. It is also an attractive destination for international investment in projects of all sizes.
Its strategic geographic position allows easy access to the markets of the USA, Latin America and the Caribbean, and with eight international airports, twelve maritime ports, modern telecom services and a strong infrastructure, traditional means of financing and the international capital markets continue to welcome and support Dominican projects.
But there may be nothing more telling about the environment for doing business in the Dominican Republic than the continued growth of foreign investment. Information currently available indicates that foreign direct investment has been steadily growing for the last four years, with an expected growth of 11% by year-end 2010, in industries ranging from mining and hospitality to construction and service industries.
Since the 1990s, the Dominican Republic has been involved in a process of reforms to modernise the country's legal system and the economic framework under which companies operate.
The main improvements have been on laws regarding telecommunications, the securities markets, industrial and intellectual property, exports, the environment, fiscal reform, electricity, electronic commerce, monetary and financial reform, foreign investment, competitiveness, migration, elections, insurance, rules governing corporations, and the national police, among others.
The government strongly supports continued investment in the country's infrastructure, such as highways, aqueducts and dams, and it has also adopted environmental regulations and policies to protect the country's world-class natural resources for future generations.
Additionally, an agreement with the EU and bilateral and multilateral free trade agreements with other countries (including Panama, Central America, the Caribbean community, US, Canada, Mexico and South Korea) ensures that the Dominican economy continues to grow.
Luis R Pellerano and Norman De Castro
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