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DOING BUSINESS

Why Invest in DR

The Dominican Republic is a democratic state with a government and elected officials under the parameters of a modern constitution and adapted to the more developed libertarian processes and respect for the rights of citizens, enabling them to participate freely in the development of the main activities that affect their quality of life. Likewise, the freedom of enterprises, the free access to goods and services, and a legal framework clearly established and respected by its authorities and civilians, are characteristic of this nation, which has registered a favourable growth of its economy, with an average of around 5% a year in the last 50 years. The powers of the state are confined to the Executive, Legislative and Judicial, the first two being elected every four years under a representative democratic framework.

 

The commercial relationship between the United Kingdom and the Dominican Republic represents an important asset for both countries. As part of CARIFORUM, the Dominican Republic is a signatory part of the Economic Partnership Agreement (EPA) between the 15 countries of the Caribbean and the member states of the European Union. This agreement entails major trade benefits, allowing the free exchange of goods and services between the two regions.

Economic & Political Stability

In spite of the external and internal shocks that the Dominican economy has faced in recent decades, the country has maintained a sustained pace of growth, reaching 6.6% in 2016, which places the Dominican Republic for the third consecutive year as the leader in Latin America. At the end of 2016, the Dominican Republic’s Gross Domestic Product reached $71,654 million, which in per capita terms equates to  $7,112 according to official figures from the Central Bank (BCRD).

 

The Dominican Republic has low levels of inflation relative to other countries in the region. In 2016 inflation ran at 1.7%, according to preliminary figures from the BCRD – the second lowest in the country over the last 33 years. By contrast, the average for the region of Latin America and the Caribbean was 5.82%, according to the International Monetary Fund (IMF).

Fast Growing Economey

The Dominican Republic has achieved average yearly growth rates of 7% since 1991 thanks to macroeconomic stability, continued public investment in infrastructure and sustained private investment in housing, industry, and services. With treaty-level links with the US, the EU, Central America and CARICOM Countries, the DR enables producers based in the DR to cater to all surrounding markets.