Sosúa, Dominican Republic

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Dominican Republic praised again for its stability

Dominican Republic General Interest

New opportunities in the Dominican Republic and Haiti


On July 8 a joint Caribbean Council / British Expertise event provided an overview of the opportunities available for UK businesses in the Dominican Republic and Haiti. Baroness Hooper, the Conservative Peer who is a strong supporter of Latin America and the Caribbean, chaired the event, which had an audience of some 40 business members of both organisations.
The British Ambassador to the Dominican Republic and Haiti, Steven Fisher, provided guests with an overview of the economic and political situation on the islands, highlighting the positive business climate in the DR and the many opportunities for UK companies to bid for aid funded work in Haiti. Anibal de Castro, the Ambassador for the Dominican Republic in London, provided further in depth information. He noted that the DR had a stable economic and political system, sound legal framework, and a number of international trade treaties such as DR-CAFTA and the EU-CARIFORUM economic partnership agreement. He also pointed to the fact that the DR is being used as a location for managing aid and programmes for Haiti, highlighting potential opportunities for UK companies to partner with Dominican firms on aid funded projects. Nigel Peters, Director of the UKTI Aid Funded Business Service provided information about how to access aid funded business, offering an insight in to where detail about tenders and projects is published.
The Dominican Republic is the second largest nation in the Caribbean and has the biggest economy in the Caribbean region. Its economy grew by around 3.5% in 2009 in spite of the global economic slowdown. While infrastructure, renewable energy, tourism and agriculture are key areas, there are many other areas of opportunity for UK companies in the DR.
Following the January earthquake, the rebuilding process in neighbouring Haiti has begun, with a significant proportion of the funding coming in the form of international and bilateral aid. There are significant opportunities for UK companies to become involved in the reconstruction of Haiti. At the meeting participants were advised that it was better to have a French speaking expert on any bidding team for Haiti.
This event was for members of the Caribbean-Britain Business Council and British Expertise. If you would like more information about membership please contact Stephanie Whittle at Stephanie.whittle@caribbean-council.org

West Indies Real Estate is a member of the Caribbean Council.  Please contact us for more information about business opportunities and commercial property in the Dominican Republic.

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West Indies Real Estate    Calle David Stern 6, El Batey, Sosua, Dominican Republic
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