Explore Export – Dominican Republic
Leonora Dipp from the British Embassy outlines the opportunities for UK companies in the Dominican Republic.
The Dominican Republic is part of the Latin American economic growth story. It has 10 million people including a growing middle class. It is the largest economy in the region and has high quality communications and business services.
It is relatively easy to do business in the Dominican Republic. English is widely spoken, and there is a modern business culture which fits well with North America and European practices.
In recent decades, the Dominican Republic has developed fast. Agriculture remains an important sector along with tourism, but the economy has diversified into manufacturing, business services and consumer goods.
Political and economic stability make the Dominican Republic an interesting place for business and investments. Situated in the centre of the Caribbean, the Dominican Republic serves as a strategic connection between Central America, South America, North America and Europe.
In 2012 the Dominican Republic’ GDP growth was 3.9 per cent, higher than the average of the Latin American region. Inflation was 3.9 per cent. Average growth since 2006 has been 6 per cent.
Economic activity is skewed towards four principal sectors: Telecommunications, Tourism, Free Zones, and Agriculture. Other sectors which offer great opportunities for business are: Education, Food & Drink, Agriculture, traditional and renewable Energy, Healthcare, Security and Recycling and Waste Management. Sector briefings can be found in UKTI’s website in the page corresponding to the Dominican Republic.
The UKTI team in Santo Domingo assists UK companies interested in entering to the Dominican market by providing different services, such as a pre-visit research and advice, validation of lists, visit programmes, event organising, lobbying, briefings, presentations and any other specific support that the company would require.