Dominican Republic business and economy directory

The DR is a lower middle-income developing country primarily dependent on natural resources and government services. Although the service sector has recently overtaken agriculture as the leading employer of Dominicans, agriculture remains the most important sector in terms of domestic consumption and is in second place in terms of export earnings. Tourism accounts for more than $1.3 billion in annual earnings. Free Trade Zone earnings and tourism are the fastest-growing export sectors.

Latest News

Dominican-Haiti border smuggling could make them bankrupt, garlic growers say - Wed, 23 Jul 2008 13:40:00 GMT

U.S. Congressman Rangel introduces bill boosts Dominican textiles - WASHINGTON, DC.- House Ways and Means Committee Chairman Charles B. Rangel (D-NY) and Ranking Member Jim McCrery (R-LA) today introduced H.R. 6560, legislation establishing a “2 for 1" textile and apparel allowance program to be developed and administered by the Secretary of Commerce. Under the program, when producers purchase a certain quantity of qualifying U.S. fabric (2 square meter equivalents or SMEs’) for apparel production in the Dominican Republic, they will receive a credit equivalent to 1 SME). Wed, 23 Jul 2008 12:36:00 GMT

Iran’s President wants to bolster ties with Dominican Republic, IRNA reports - TEHRAN. - Iranian president Mahmud Ahmadineyad, affirmed today that his country wants to strengthen its relations and cooperation with Dominican Republic in several areas, especially scientific and industrial, the official agency IRNA reports. Tue, 22 Jul 2008 19:56:00 GMT

Dominican Tax Agency’s new measures benefit foreigners - SANTO DOMINGO. - The Internal Taxes Agency announced the exemption of the obligation to retain the Income Tax (ISR) to foreign companies or people who offer professional services related to product development projects, materials and production processes, technology research and development, personnel training, innovation, investigation and environmental protection. Tue, 22 Jul 2008 18:55:00 GMT

Dominican Republic’s credit rating still “weak,” Reuters reports - SANTO DOMINGO.- Dominican Republic’s sovereign credit rating were affirmed by Standard & Poor's Ratings Services, by removing its 'B+/B' from CreditWatch, where it was placed on Feb. 8, 2008, “with negative implications because of uncertainty concerning payment and legality of government promissory notes due between March and July 2008,” said Thomson Financial quoted by Reuters. Tue, 22 Jul 2008 15:32:00 GMT

Dominican Government scolds the energy sector on blackouts - SANTO DOMINGO. From now on, the Electricity Superintendence will have to grab the tiger by the tail because the Government won’t allocate more than US$900 million to subsidize the country’s energy system for the rest of the year, said Economy Minister yesterday, and advised the citizens that in the future that sector’s authorities will have to take the measures related to that topic. Tue, 22 Jul 2008 12:12:00 GMT

Dominican Tax Agency returns RD$19.4B in 3 years - SANTO DOMINGO. - From 2004 to 2007 the revenues from the tourist card jumped 62 percent, said the Internal Taxes Agency (DGII), and paid more than RD$19.4 billion in compensation and tax returns in the same period. Mon, 21 Jul 2008 17:02:00 GMT

Dominican Government to hire 10,000 road workers - Mon, 21 Jul 2008 13:37:00 GMT

On Dominican highways Japanese autos are undisputed king - Mon, 21 Jul 2008 12:35:00 GMT

Blackouts will end today, Dominican energy chief says - Mon, 21 Jul 2008 11:40:00 GMT

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