Trade and investment
The robust performance of the Dominican economy has enabled the influx of $19,823 million dollars of Foreign Direct Investment (FDI) since 2010. This performance was facilitated by the special incentives granted through Foreign Investment Law No. 16-95 to the contributions from foreign individuals or corporations or by Dominicans living abroad, to the capital of a company that works or is interested in working in the country.
The activities that contributed most to the economy’s growth were hotels, bars and restaurants (6.8%), financial services (6.2%), agriculture (5.9%), Free Trade Zones (5.5%), transport and storage (5.1%), construction sector (3.7%), local manufacturing (3.0%) and commerce (3.0%).
Download Ley No. 16-95
Manufactures export is one of the most dynamic sectors of Dominican economic activity. Law 8-90, which regulates and encourages the establishment of companies and parks in the Free Trade Zones, provides companies numerous incentives to settle in our country. These, added to the Free Trade Agreements with the Caribbean Zone (PSA DR-Panama, FTA DR-Central America, FTA RD-CARICOM) and the US (DR-CAFTA), are unique opportunities for productive sub-sectors of higher potential, such as medical and pharmaceutical products, electrical equipment and electronic components, footwear and leather, cigar and tobacco products, among others.
During the period from January 2010 to May 2018, the accumulated amount of exports from Dominican Free Trade Zones was around 43,104.60 billion dollars. Internationally renowned companies have based their operations for the manufacture and marketing of a wide range of products in our country.
Download Law No. 8-90 Download Ley No. 8-90
In recent years, the Dominican Republic has positioned itself as an attractive destination for the renewable-energy industry, which has promoted the development of numerous projects related to wind, solar, biomass, hydroelectric and clean energy, such as natural gas. The renewable energy sector has generated an investment amount of over US $ 710 million, creating more than 1,300 direct jobs and some 4,000 indirect jobs.
Law No. 57-07 on the Development of Renewable Sources of Energy contemplates incentives and tax exemptions for both producers and self-generators of alternative energies, which has allowed the country to become one of the leading producers of alternative energy in the region. Download Ley No. 57-07
Due to its excellent soils and its appropriate climate, the agriculture developed in our country includes the production of sugar cane, coffee, cocoa and tobacco, as well as fruits such as bananas, orange, avocadoes, pineapples and cantaloupes.
Law No. 150-97 establishes a zero rate for farm inputs, equipment and machinery for agricultural projects. The country is one of the leading suppliers of the US market and several European countries in some of these areas.
Several Dominican products are currently in the top world positions concerning production and export: the country is the leading exporter of hand-crafted cigars in the world, reaching 42% of the world export market, and the largest exporter of machine-made cigars, with a production of 4.8 billion units in 2017. Also, the Dominican Republic is the principal exporter of rum to Spain and Chile, and the first exporter of organic cocoa in the world.
We currently have more than 500 agro-industrial companies that create some 58,000 direct jobs and market opportunities for more than 150,000 producers. Download Ley No. 150-97
Law 8-90 of Free Trade Zones benefits and grants tax incentives to Call Centers. Call Centers provide services to a diversified portfolio of industrial sectors, including medical interpretations and telecommunications, computer and commercial services. In the data processing segment, financial, human resources, energy, engineering and construction services stand out. Download Ley No. 8-90
Our country has more than 70 software development companies. Some have international experience, while many others are potential exporters, including some associated with internationally recognised brands such as Microsoft, Oracle and Hewlett Packard, and with international certifications such as CMMI, ISO 9001, IBM Rational and Nortel. Download Ley No. 20-00
Film and Audiovisual
The Dominican Republic has been the ideal setting for scenes from successful feature films, such as The Godfather II, Rambo: First Blood Part II, Havana, Jurassic Park, La Fiesta del Chivo, The Good Shepherd, Fast and Furious 4 and The Lost City.
The Dominican audiovisual production sector gathers more than 60 companies in the area of production. It is regulated by Law No. 108-10 for the Promotion of Cinematographic Activity in the Dominican Republic, which creates the Directorate-General for Film (DGCINE) and the establishes a series of incentives both for local and foreign productions.
The Dominican Republic is party to a series of international agreements on cinematographic matters, among which are both the Agreement for the Creation of the Latin American Common Cinematographic Market and the Latin American Agreement on Cinematographic Co-production.
Likewise, we are a member of the renowned IBERMEDIA Program and signed a Cinematographic Collaboration Memorandum with the Corporation for the Development of the Arts, Sciences and Cinematographic Industry of Puerto Rico. Download Ley No. 108-10
Telecommunications law 153-98, which modernises the sector's regulation and adapts them to international standards, alongside the country's privileged geographical position have made telecommunications one of the most dynamic productive areas of national life, reaching 5.4% or US$ 1 116 million of the total FDI received in the last eight years.
Our country has one of the most advanced telecommunications infrastructures in the Caribbean. To date, we have five fixed telephony providers, four mobile telephony providers and eight internet access providers (ADSL, Cable Modem, WiMAX, 3G and 4G). Download Ley No. 153-98
We have eight international airports, twelve seaports, and one of the most extended road networks in the region. Thanks to our advanced transportation services to support foreign trade, we are leaders in the region, with the shortest times and lowest costs for the export and import of containers.
Foreign Direct Investment (FDI) in the Dominican Republic for infrastructure from 2004 to 2013, amounted to 8,853.8 million dollars, in high-impact projects for development national, including the telecommunications, electricity, real estate, transportation and commercial sectors.