“Invest in the DR” forum shows good potential
SD. With high expectations yesterday “Invest in the DR 2014″ began. This is a forum to attract investments in which, up until now, will are 250 foreign investors taking part, and through which the vice president of Ambev for Central America and the Caribbean, Jean Jereissati, announced that he would propose at the next meeting of the Board of Directors of his company the approval of a new investment of US $100 million in the country.
During the activity, which was headed by President Danilo Medina, the governor of the Central Bank, Hector Valdez Albizu underlined the strength of the Dominican economy, which according to his projections will grow between 5.5% and 6% in 2014.
In addition, the official stressed that in the last 10 years Direct Foreign Investment (DFI) increased 245.5% in the Dominican Republic, going from US $7.7 billion in 2004 to US $26.5 billion at the close of 2013, an increase of US$18.9 billion, representing an average yearly flow of around US $2.0 billion.
As he took part as a speaker in the International Forum “Invest in the DR”, which was organized by the Center for Exports and Investment of the Dominican Republic (CEI – RD), Valdez Albizu pointed out that the country has great potential and multiple comparative and competitive advantages to continue being an attractive destination for foreign capital, taking on an ever greater leadership at the regional level.
In the event which began yesterday, and which received big backing from the principle businessmen and officials of the country, the governor of the Central Bank, cited as advantages of the Dominican Republic the strategic geographic location, the enactment of a modern regulatory framework with regard to foreign investment, the existence of an excellent infrastructure of roads, ports and airports, with the latter composed of eight international airports, a world-class telecommunications system, as well as the enactment of important commercial agreements such as DR – CA FTA and the agreement of Economic Association with the European Union (EPA).
“I call on the investors here present to accompany us as partners to the development of the strengths of the country. We have economic and political stability, in the framework of a state of law in which free trade, judicial security, clear and stable rules in time as well as a long term Democratic regime. We enjoy social peace and week out on our principal asset: our people,” said Valdez Albizu.
“The strategy of the CND in the local market is to take advantage of the growth of the country in order to develop the beer market and enter into new categories of beverages, transforming ourselves into a complete beverage company,” said the Ambev executive.
He said that in addition to the economic growth, the geographical position which the Dominican Republic occupies constitutes a significant competitive advantage which has permitted the company to carry out a centralized administration from here of the factories in Dominica, St. Vincent, Guatemala and Cuba, and expand the export platform, where the goal this year is to grow by 25%.
“Our vision for the future is to accelerate the process of internationalization of the CND as the leading beverage company in the region. Mr. President, in order to achieve this internal and external growth plan, I am going to suggest in the next meeting of our Board of Directors, the approval of an additional US $100 million to our current investment in the Dominican Republic,” said Jereissati in his speech before President Medina.
The principle panelists at the international investment forum, besides the governor of the Central Bank and the director of the CEI – RD, were Felipe Vicini, the executive president of the Vicini Group, and José Luis Corripio, the president of the Corripio Goup.
Also during the event which brought together investors from some 40 countries, the governor of the Central Bank said that just as the analysts from J.P. Morgan recently said, the Dominican economy “is going full steam ahead” and he stressed that in the last 13 years, the economy has shown an average growth of 4.7%.
Dominican Republic: a good market
Felipe Vicini, the president of VICINI, presented the Dominican Republic as an interesting destination for investments, with attractive earnings adjusted to risk during his presentation in the First Forum of Investment organized by the CEI – RD.
For Vicini, the asset management firm which he represents is an ideal consultant for making investments in the country, characterizing itself as strengthening local companies so that they can be the receivers of these foreign investments and in this way convert the Dominican Republic into a springboard for regional investments.
During his talk, the VICINI executive presented various successful examples of foreign investments that have been done in the country, managed by his firm, in different sectors of the economy.
One of these cases is their association with Colasem, from Italy, for the installation in the Dominican Republic of the modern cement plant called Domisem, which has a major presence in the country.
Category: DR News |