Businessmen see a great future for Spanish investments in RD
The new ambassador of Spain in the Dominican Republic, Diego Bermejo, thinks that Spanish investment in the Caribbean country "will go further" in the coming years as for entrepreneurs has become "a chance for business in the future ".
Bermejo highlighted the existence of a broad field for investment. "I do not see, let alone a reverse gear, but perhaps stability over a relatively short period and then a projection over in this country, where many investments are done," he said.
To that end, he explained, businessmen have the advantage of such instruments as the Agreement on Reciprocal Protection of Investments (APRI) between the two countries and the Economic Partnership Agreements (EPA) signed between the Dominican Republic, the Caribbean Community (CARICOM) and the European Union.
As an example of this boom, citing the area east of the country, where he stressed "the amount of existing investment by Spaniards, not only in the tourist industry itself, but also in real estate." Spain is behind the U.S., the second country that invests more in the Dominican Republic, with a volume exceeding the 3,000 million dollars, over 80 per cent in the tourism sector, according to figures from the Commercial Office of the Embassy of Spain corresponding to 2007.
One of the concerns of Spanish businessmen in the country has been in recent years, the problems of legal uncertainty, an issue on which Bermejo, who presented his credentials on April 17, said that he has not known a case while acknowledging that may have existed.
The diplomat, however, stressed the democratic stability and macroeconomic and the recent signing of the agreement EPA and the existence of legal instruments to protect investment. The Spanish businessman, know well where to put their money, said Bermejo.
"And the fact is that investment has not receded, nor has stalled, but it is growing. As for the balance of trade between the two countries, in deficit for the Dominican Republic, the ambassador felt that something could be balanced by the export of Dominican products such as bananas and organic cocoa, "which have great acceptance in Europe”.
In 2007, Spanish exports to the Dominican Republic were 282,145,000 euros and imports from the Caribbean country of 108,752,000 euros, representing a surplus of 173,393,000 euros for the Spanish trade balance.
The main goods exported to Spain from the Dominican Republic are, from highest to lowest volume, appliances and electrical components, followed by machinery and mechanical appliances, iron and steel foundry, ceramic products, motor vehicles, beverages, including wine; books , Fats and oils. Imports from the Caribbean country are headed by beverages, including rum, smelting iron and steel and snuff.
As for his priorities as head of the Spanish embassy, Bermejo wants to achieve greater 'visibility' of cooperation that lends itself from Spain to the Dominican Republic, which in 2008 spent between 68 and 70 million euros.
Bermejo mentioned in this regard, projects financed by Spanish cooperation in education, culture, environment, integration of women and youth, among others, and favored maintaining the current "two-way dialogue" that allows developing cooperation "by mutual agreement". He also highlighted other projects, like the one that has been launched for strengthening political parties, scheduled to deploy in Central America, in addition to initiatives in areas such as drinking water, sewage systems, agricultural development and consultancy projects municipal decentralization.
The new ambassador of Spain in the Dominican Republic, Diego Bermejo, thinks that Spanish investment in the Caribbean country "will go further" in the coming years as for entrepreneurs has become "a chance for business in the future ".
Bermejo highlighted the existence of a broad field for investment. "I do not see, let alone a reverse gear, but perhaps stability over a relatively short period and then a projection over in this country, where many investments are done," he said.
To that end, he explained, businessmen have the advantage of such instruments as the Agreement on Reciprocal Protection of Investments (APRI) between the two countries and the Economic Partnership Agreements (EPA) signed between the Dominican Republic, the Caribbean Community (CARICOM) and the European Union.
As an example of this boom, citing the area east of the country, where he stressed "the amount of existing investment by Spaniards, not only in the tourist industry itself, but also in real estate." Spain is behind the U.S., the second country that invests more in the Dominican Republic, with a volume exceeding the 3,000 million dollars, over 80 per cent in the tourism sector, according to figures from the Commercial Office of the Embassy of Spain corresponding to 2007.
One of the concerns of Spanish businessmen in the country has been in recent years, the problems of legal uncertainty, an issue on which Bermejo, who presented his credentials on April 17, said that he has not known a case while acknowledging that may have existed.
The diplomat, however, stressed the democratic stability and macroeconomic and the recent signing of the agreement EPA and the existence of legal instruments to protect investment. The Spanish businessman, know well where to put their money, said Bermejo.
"And the fact is that investment has not receded, nor has stalled, but it is growing. As for the balance of trade between the two countries, in deficit for the Dominican Republic, the ambassador felt that something could be balanced by the export of Dominican products such as bananas and organic cocoa, "which have great acceptance in Europe”.
In 2007, Spanish exports to the Dominican Republic were 282,145,000 euros and imports from the Caribbean country of 108,752,000 euros, representing a surplus of 173,393,000 euros for the Spanish trade balance.
The main goods exported to Spain from the Dominican Republic are, from highest to lowest volume, appliances and electrical components, followed by machinery and mechanical appliances, iron and steel foundry, ceramic products, motor vehicles, beverages, including wine; books , Fats and oils. Imports from the Caribbean country are headed by beverages, including rum, smelting iron and steel and snuff.
As for his priorities as head of the Spanish embassy, Bermejo wants to achieve greater 'visibility' of cooperation that lends itself from Spain to the Dominican Republic, which in 2008 spent between 68 and 70 million euros.
Bermejo mentioned in this regard, projects financed by Spanish cooperation in education, culture, environment, integration of women and youth, among others, and favored maintaining the current "two-way dialogue" that allows developing cooperation "by mutual agreement". He also highlighted other projects, like the one that has been launched for strengthening political parties, scheduled to deploy in Central America, in addition to initiatives in areas such as drinking water, sewage systems, agricultural development and consultancy projects municipal decentralization.
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