The Dominican Republic: A land of sensations

Latin Trade, April, 2003

The nation's largest new resort development is the 30,000-acre Cap Cana project, with a USS3 billion projected investment over the next decade. Another major project is planned at Sans Souci just outside the capital's Colonial City. In Samana, nearly 200 projects are under way or under study, almost all of them with foreign money.

But while tourism has received much attention, numerous business-oriented projects are planned. The Dominican Republic aims to make it as efficient as possible for foreign businesses to establish themselves on the island.

"The Office for the Promotion of Foreign Investment offers free consulting services for everyone interested in investing in the Dominican Republic, a project portfolio for joint ventures, coordination of visitors' agendas, and a wide range of services to facilitate an informed decision-making process," says Danilo del Rosario, Ambassador/Executive Director of the economic development group.

Details of the largest foreign investment in the history of the nation are being worked out with the United Arab Emirates to develop a megaport at Manzanillo -- a US$4.1 billion project announced in January 2003 that will transform the northern coast town of Monte Cristi over a 19-year period.

The Cyberpark of Santo Domingo, a joint project of the government and local and international investors, will incorporate the best features of technology parks around the world. In tandem with a computer science training center, the park will host high-tech services and manufacturing operations. The park will complement the numerous free trade zones that already attract manufacturers to the Dominican Republic.

Last fall, the United Nations Conference on Trade and Investment (UNCTAD) put the Dominican Republic on the list of countries with the greatest potential for attracting foreign investment. Judging from the nation's recent economic success, the future looks bright.

For more information on how your company can invest in the Dominican Republic, please contact the Office for the Promotion of Foreign Investment or see www.dr-opin.com.

Tourism Minister: "We will spare no effort to promote the country's tourism"

Rafael Antonio Subervi Bonilla, the Dominican Republic's Minister of Tourism, a distinguished Dominican official with more than 40 years of public service to his credit, defines as his top priority "to spare no effort to create the conditions necessary to support sustained tourist activity, the basis of our main economic strategy and our social policy."

Q: What plans do you have to promote the tourist industry?

A: Our strategy relies on three fundamental elements: First, a campaign targeting market segments in which we address the expectations of different types of travelers and offer them a preview of what they would enjoy if they visit us. Second, the development of strategic alliances with tour operators and airlines, among others. Finally, participation in all the major travel-industry events worldwide, in conjunction with the private sector.