LBC: Dominican Republic has best business climate
Brought to you by Emerging Earth, at the forefront of International property investment.
The Latin Business Chronicle has ranked the Dominican Republic as having the best business climate in the Central America Free Trade Agreement (CAFTA) region.
In the journal's third annual Latin Business Index, the Dominican Republic was also noted as having the fifth-best political environment in all of Latin America and the third-best macro climate.
The Dominican Republic's economy expanded at an average rate of 7.7 per cent a year from 1996 to 2000 and tourism, telecommunications and free trade zone manufacturing are now the most important sectors, according to the US Department of State.
Gross domestic product in the Caribbean nation reached $36 billion (£18 billion) in 2006 and the growth rate last year was 10.7 per cent.
Following the ratification of a free trade agreement between the US and CAFTA in September 2005, foreign direct investment from the US rose to $3.3 billion, the majority of which was received by the Dominican Republic's energy and tourism sectors.
"This supports our efforts about educating people on the great business potential of the Dominican. Overseas investment into this emerging market continues to support the ongoing growth of many industries in the Dominican Republic. The profits made in the CAFTA region are largely affected by the contribution of the Dominican Republic's tourism industry," Will Jackson, Emerging Earth.
Related News Article