The economy of the Dominican Republic has seen substantial growth and structural change for more than two decades. Today tourism, manufacturing in free zones, agriculture, mining, telecommunications and remittances, among other sectors, have placed us as one of the fastest growing economies in the Latin America and Caribbean region. Between the years 2015 – 2019 our economy’s GDP grew at an average of 6.1% per year. This growth favored the strengthening of the middle class and a general rise in socio-economic development indicators.

The robust performance of the Dominican economy has enabled the influx of $27,419.4 million dollars of Foreign Direct Investment (FDI) since 2010. This influx was facilitated by a series of special incentives laws, of the likeness of the Foreign Investment Law No. 16-95.

Other factors that have contributed to a healthy investment climate in our country are: our macroeconomic stability, the adherence to the Rule of Law, investments on infrastructure and the signing of Free Trade Agreements.

Presently, the Dominican Republic is signatory of Multilateral Agreements with WTO members; free trade agreements, with USA and Central America (DR-CAFTA), European Union and Caribbean States (EU-CARIFORUM-EPA); a Preferential Trade Agreement with Panama; and Bilateral Investment Treaties with several countries around the globe.

Manufacture - 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.

Contact Centers - 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.

Software Development - 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.

Renewable Energy - 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.

Agroindustry - 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.

Tourism - Surrounded by the Atlantic Ocean on the north and the Caribbean Sea on the south, our lush tropical island paradise boasts nearly 1,000 miles (1,609 km) of coastline, 250 miles (402 km) of the world’s top beaches, magnificent resorts and hotels, and a variety of sports, recreation and entertainment options.

Law 158-01 on the Promotion of Tourist Development for New or Low Development Locations in Provinces and Areas with Great Tourist Potential, and for the Creation of the Tourist Promotion Official Fund, enacted on 9 October 2001, establishes special incentives and benefits to individuals or companies, residing in the Dominican Republic, that promote or invest capital in any tourist activity described in said Law. In order to benefit from said Law, a special Resolution shall be obtained from the Council for the Promotion of Tourism. Law No. 195-13 added other areas that could benefit from these tax incentives.

Film and Audiovisual - The Dominican Republic has managed to build a dynamic film industry based on an attractive combination of tax incentives, unique locations, world-class physical infrastructure, and first-rate services. In just ten years after its implementation, Law No. 108-10 for the Promotion of Cinematographic Activity in the Dominican Republic has made our nation an authentic exception in Latin America, a country in which the film industry injects millions of dollars into the national economy through shoots of foreign films that choose the Dominican Republic.

The Dominican audiovisual production sector gathers more than 60 companies in the area of production. It is regulated by Law No. 108-10, which created the Directorate-General for Film (DGCINE) and the established a series of incentives both for local and foreign productions.

Our country has managed to consolidate and strengthen its film industry through its cinematographic incentives scheme as well as through initiatives aimed at strengthening the links in the cinematography value chain.

Under Law No. 108-10 film producers may benefit from a TTC equal to 25% of all expenses incurred in the Dominican Republic that are directly related to the preproduction, production and postproduction of their films. The credit may be transferred in favor of one or several Dominican taxpayers. Up-front monetization solutions are also available in the country. In addition to the TTC, goods and services that are directly related to preproduction, production and postproduction are exempt from tax on the transfer of services and industrialized goods.

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.

Looking back, we can affirm with confidence, that what the industry and the country have achieved in cinematographic matters has ripened. After 10 years of tireless work, with professionals who have relentlessly contributed with their talent, effort and ideas, today, our country has an effective and robust industry that has successfully positioned itself as a film destination par excellence.

Telecommunications - 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).

Infrastructure - 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.