Foreign Investment in the Dominican Republic Jumps 40% to $3.6 Billion

Foreign investment in Dominican Republic topped US$3.6 billion last year, or nearly 40% higher than 2011, while the government "embraces" the hope of also positive results at yearend 2013.

Dominican Republic Export and Investment Center (CEI-RD) director Jean Alain Rodriguez revealed the figures on Tuesday, noting that foreign investment was nearly US$2.8 billion in 2011.

Speaking in the National Palace after meeting with President Danilo Medina, the official said the investments were in tourism, telecoms, mining among others.

Rodriguez said the government expects to maintain the foreign investment levels and continue the country’s "progressive" growth posted thus far this year. "This US$3.6 billion figure represents almost 60% of the investment made in the Caribbean."

The head of the CEI-RD listed Venezuela, the U.S. and several European nations among the countries with major investments in 2012 and revealed ongoing talks with other foreign companies looking to invest in the country this year, but didn’t reveal their names. "They are investment projects that remain under evaluation and processing, but there’s some of everything: in the tourism sector, telecommunication sector, real estate, mining."