Miami.- The Minister of Industry, Commerce, and MSMEs (MICM), Víctor “Ito” Bisonó, highlighted the Dominican Republic’s competitive advantages as an investment hub during the World Strategic Forum 2024: Prospering in the New Economy held in Miami. He emphasized the nation’s transformation under President Luis Abinader, crediting strategic policies and sustainable development for what he called “the Dominican miracle.”
Bisonó detailed the country’s post-pandemic recovery, citing a projected 5.1% growth for 2024, the highest in the region according to the World Bank and IMF. He noted Standard & Poor’s recent upgrade of the Dominican Republic’s credit rating to BB, signaling stability and legal security for investors. Foreign direct investment rose 7.1% year-on-year in 2023, representing 41% of Central America’s total inflows. The United States remains the primary investor, contributing 30% of investment over the last decade.
Bisonó spotlighted the country’s readiness for nearshoring, particularly in the semiconductor and printed circuit industries. With incentives like decree 324-24 prioritizing semiconductor development, advantages include a strategic location, robust logistics, eight international airports, top-ranked port connectivity, and skilled talent. Initiatives like “Zero Bureaucracy” and “24-hour Office” streamline processes, ensuring a business-friendly environment. “The Dominican Republic is not just a future opportunity—it’s a place to invest today,” he concluded.