Spanish Chamber President: Dominican Republic experiencing peak investment climate

Santo Domingo.- Francisco José Pérez Menéndez, president of the Spanish Chamber of Commerce in the Dominican Republic and Air Europa’s local representative, emphasized the country’s thriving conditions for foreign investment. He attributed this success to an improved business environment, enhanced legal security, and streamlined administrative procedures, marking a peak in the nation’s attractiveness to investors.

Spain ranks as the Dominican Republic’s second-largest foreign investor, contributing $668 million in 2023 across tourism, renewable energy, and infrastructure. Despite a trade imbalance—$100 million in Dominican exports to Spain versus $1,000 million in imports—exports to Europe are steadily increasing. Pérez Menéndez also lauded tax incentives as vital for boosting foreign investment and offsetting infrastructure gaps. A notable milestone is the recent contract awarded to a Spanish firm to construct the Cabo Rojo airport in Pedernales.

The Spanish Chamber continues to promote technological and knowledge exchanges, enhancing bilateral trade. Pérez Menéndez expressed optimism about growing interest in renewable energy projects, leveraging the Dominican Republic’s abundant natural resources, such as wind and solar power, to foster sustainable development.