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The Minister of Industry, Commerce and MSMEs (MICM), Yayo Sanz Lovatón, presented the conditions that the Dominican Republic has as a reliable and complementary nearshore partner for the technology industry, before the Spanish Association of the Semiconductor Industry (AESEMI).
n” “nAt the meeting held at the Secretary of State for Trade, the official emphasized that the country can host foreign companies dedicated to the manufacturing of printed circuit boards (PCBs), electronic components, discrete semiconductors, and their assembly, testing, and packaging (ATP), within the framework of the global reconfiguration of supply chains and the diversification strategy promoted by the United States, Europe, and their allies.
n” “nLikewise, he recognized Spain’s role as a strategic player in the European semiconductor ecosystem and expressed the interest of the Dominican Republic’s government in building a long-term industrial relationship with that European nation.
n” “nHe highlighted that currently 25 electronic companies carry out their operations in the country, generating significant export volumes, mainly to the US market. The installation of companies such as Eaton, Rockwell, Jabil, Vishay, and others is already in place.
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He also explained the regulatory framework and the incentives offered by the Dominican State to companies in this sector interested in establishing themselves in the country, as well as the structure and support of institutions such as the Ministry of Industry, Commerce and MSMEs, the National Council of Export Free Zones, ProDominicana, and business associations such as the Dominican Association of Free Zones.
n” “n“The Dominican Republic seeks to be the most competitive nearshore hub in the hemisphere for specific value chain activities,” the minister pointed out.
He highlighted that the competitive benchmark for the Dominican Republic is, with a natural risk index of 13.47, lower than countries such as Mexico (38.96), the Philippines (46.56), and Vietnam (25.92).
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Likewise, the country is one of the main recipients of Foreign Direct Investment in relation to its Gross Domestic Product, at 3.7%, above nations such as Mexico (2.8%), the Philippines (2.9%), and Malaysia (3.4%), as well as tax exemptions for the sector, among other advantages.
n” “nHe cited that currently more than US$3 billion in medical technological devices and US$1.2 billion in electronic appliances are exported annually, and that there are more than 40,000 skilled workers for this industry.
n” “nThis meeting is part of a productive workday that Minister Sanz Lovatón is carrying out in Spain. The minister is accompanied by a business delegation led by the president and vice president of the National Council of Private Enterprise, Celso Marranzini and César Dargam, respectively.
n” “nLikewise, Amparo López Senovilla, Secretary of State for Trade of the Ministry of Economy, Trade and Enterprise of Spain; Jimena García-Romeu, Vice President of AESEMI; Juan Luis Gimeno Chocarro, Director General of International Trade and Investments of the Ministry of Economy, Trade and Enterprise of Spain and Alfonso Gabarrón, Institutional Relations Manager of AESEMI.
n” “nAlso businessman Carlos León, the senators for La Altagracia province, Rafael Barón Duluc, and for Duarte province, Franklin Romero, and the deputy for Azua province, César Beltré.
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