From my incursion as a professional with the enthusiasm to invest in Quisqueya, some indicators shown the Dominican Republic as a society with a solid development and sustained growth economy.
This statement is based on the following indicators and is strictly my personal opinion and has to do with the political landscape and indicators that are based on quantifiable values that are publics and issued by several international organizations such as the World Bank and The International Monetary Fund, as well as risk rating agencies, and also from government institutions from the Dominican Republic like The Central Bank. These organizations also recognized that a poverty reduction program must come out.
The following data ratify today that we are going in the appropriate direction for a sustained socio-economic development.
• To date, relevant data such as the fact that Banco Popular Dominicano continues its upward trend in the ranking of the british magazine The Banker, which brings together the 1,000 best banks in the world, materializes on the global economic landscape, size, solvency and financial performance.
Reaching 799 in the last edition, which means an improvement of 8 posts compared to last year.
In the last four years, Popular has gradually climbed more than 100 positions in this ranking.
• Trade between China and the Dominican Republic was US $ 1.4 billion in the first six months, a jump of 44.1%. The confidence in the political stability of the country, make foresee that the commercial relations will develop at a considerable rate.
Obviously, it is on the Dominican side, to boost the exports of those products demanded by the Asian giant and that from the Dominican Republic can be supplied competitively at prices, quality and delivery times in addition to the possibility of attracting a number of tourists to this region is the ideal site for multiple connections.
• The Minister of Agriculture, Osmar Benítez, announced his commitment to increase the promotion of Organic Agriculture in the Dominican Republic, better known as “organic farming”, following market rules and regulations. In the Dominican Republic, the organic market represents more than US $ 500 million for exports, with bananas and cocoa being the largest items according to the Organic Department of the Ministry of Agriculture.
• The cement industry in the Dominican Republic this year seeks to reach a per capita cement consumption of around 480 kilos per inhabitants, positioning itself as one of the highest in the entire American continent.
The country has become the place with the highest per capita cement production capacity in the entire American continent, above large producers such as Mexico, Brazil and Colombia.
• The Central Bank (BC) reported that the consumer price index (CPI) in August of this year registered a monthly variation of 0.34% compared to July, placing the accumulated inflation of the first eight months of the year at 1.99%.
The report indicates that year-on-year inflation, measured from August 2018 to August 2019, stood at 1.72%, staying below the lower limit of the target range of 4.0% ± 1.0%, established in the Monetary Program.
These facts analyzed as an overview of the country, plus others important issues that will be considered for future notes, allow me to affirm what is stated in the title of this article.
Edward De Valle II
Managing Partner and acting CEO