Goals are set for diplomats in their responsibility to promote foreign investment and exports.
Santo Domingo, Dominican Republic._ The Ministry of Foreign Affairs (MIREX) and ProDominicana, launched the 2021 Commercial Promotion Plan with which both institutions join efforts to optimize the service of promotion of trade and attraction of investments with the support of the Diplomatic and Consular Corps of the country accredited abroad.
This commercial diplomacy plan presented by Foreign Minister Roberto Álvarez and the Executive Director of ProDominicana, Biviana Riveiro, includes the main actions that our representatives must develop at the international level to promote and strategically position the exportable offer of the Dominican Republic and make it known to the world the high quality products with added value that our country offers, as well as the detection of business opportunities and markets research.
This initiative, which will help to reactivate the economy and improve the well-being of Dominicans, will also make it possible to advance in the generation of the 600 thousand jobs announced within the promises of President Luis Abinader.
In addition, it constitutes a planning and goal setting tool, which outlines the guidelines, concrete actions and activities that the ambassadors and consuls must comply with the support of the representatives of the Commercial Section.
With this working instrument, the Dominican Government seeks to achieve the goals of more exportation, attraction of direct foreign investment and positioning of our country brand. It is about “showing the best of us, to attract the best in the world”.
The exportable offer of the Dominican Republic comprises more than 4,200 lines of high quality products at competitive prices, which are present in more than 200 international markets, with around 4,400 exporting companies. Dominican products enjoy preferential access to more than 1,000 million consumers through 5 trade agreements.
According to what is established in this plan to promote exports, some of the actions that ambassadors and consuls must take are to manage the insertion of at least two new products a year with potential in the host market that can be supplied by the Dominican Republic; identify potential buyer customers according to the identified products; and increase the market share of products already established in the host country.
To increase foreign investment in our country, our representatives will have to carry out investment missions to visit the Dominican Republic and/or business meetings (virtual and / or face-to-face); hold regular meetings with trade unions and business associations and chambers of commerce to promote the country as an attractive investment destination; capture at least one potential investor for the realization of the investment portfolio projects.
Thanks to the dynamism of our economy, legal certainty, competitive incentives and an attractive business climate, Foreign Direct Investment (FDI) amounted to US$3,012.8 million during 2019, for a growth of 18.8% compared to the previous year, as a result of increased investments in the tourism, real estate, energy and telecommunications sectors.
With the strategies outlined in this 2021 Commercial Promotion Plan, the Government seeks to increase these indicators in a positive way to achieve the economic development of our country.
COMMUNICATIONS AND PUBLIC RELATIONS DEPARTMENT OF MIREX
