Dominican President Calls for Heavier Foreign Investments in Local Economy

President Leonel Fernandez spoke at meetings in Philadelphia and Miami last week, pushing for investment in the Dominican Republic. He proclaimed that the Dominican Republic would become “the investment center for the Caribbean”.

In Philadelphia, Mr. Fernandez addressed the Hispanic-American Chamber of Commerce, where he stressed on the development of the Dominican system of industrial free zones and the increasing number of accords inked with governments and universities.

In Miami, the President described the Dominican Republic as a model for the Third World, transforming itself into a society with strong guarantees for investments. He also talked about the 5,000 companies currently located in the different free zones and the government’s plan to reduce unemployment by 3 percent.

Finally, he underscored the importance of the Dominican geographic location and the advantages it offers to manufacturers anxious to get their products to market.

At the Miami gathering, planned by the law office of Schwartz and Bowen, the President told his audience that the Dominican Republic had changed from a rural, agricultural society to a more modern, service-oriented society through its tourism industry and the free zones.