The Dominican Republic is becoming a nearshoring and logistics hub in Latin America and the Caribbean. Learn more about doing business in the Dominican Republic during this event organised by Canning House in partnership with the Dominican Embassy in the UK and the British Chamber of Commerce of the Dominican Republic (BRITCHAM) during the 10th Dominican Week in London.
Conference
Dominican Republic: A Global Hub in Latin America and the Caribbean
- In and Out Club, 4 St James's Square, St. James's, London SW1Y 4JU
- 09:00-12:35
Dominican Republic:
A Global Hub in Latin America and the Caribbean
The Dominican Republic is becoming a nearshoring and logistics hub in Latin America and the Caribbean. Learn more about doing business in the Dominican Republic during this event organised by Canning House in partnership with the Dominican Embassy in the UK and the British Chamber of Commerce of the Dominican Republic (BRITCHAM) during the 10th Dominican Week in London.
International companies are increasingly drawn to utilising the Dominican Republic as a centre for logistics and nearshoring. It is expanding its physical and technological infrastructure to build a backbone for operating as a global hub for business and trade. It is these opportunities for UK companies and investors that this conference will explore in the context of the 10th Dominican Week in the UK.
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Dominican Republic: A Global Hub in Latin America and the Caribbean
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Guest arrival and registration
09:00-09:30
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WELCOMING REMARKS
Jeremy Browne, CEO - Canning House
Amauris Vásquez, President - Britcham Dominican Republic
09:30-09:40
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AMBASSADORS' REMARKS
HE Elnio Durán, Ambassador of the Dominican Republic to the UK
HE Mockbul Ali, British Ambassador to the Dominican Republic
09:40-09:45
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PRESENTATION ONE
Logistics Hub of the Dominican Republic
Daniel Peña, Deputy Director ‐ Customs of the Dominican Republic
09:45-10:30
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PANEL ONE
Empowering Global Trade: The Dominican Republic as a Logistics Hub
This panel will underscore the Dominican Republic’s potential as a logistics hub for the Caribbean. Panellists from international companies will share their experiences in utilising the Dominican Republic. The discussion will also contemplate how the Dominican Republic is building a solid foundation for its logistics industry through infrastructure and technology.
Moderator: Chris Bennett, Managing Director - Caribbean Council
Jaak Rannik, Vice Chairman of the Board - Grupo Rannik
Dirk Hoffmann, Director, Product Development, UK Ports and Terminals - DP World
Ian Jenkins, Lecturer and researcher - University of Birmingham
10:30-11:00
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Coffee break
11:00-11:30
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PRESENTATION TWO
Dominican Republic: Your Destination for Nearshoring
This presentation will explain what makes the Dominican Republic an ideal destination for nearshoring, alongside outlining some of the sector-specific opportunities.
Biviana Riveiro Disla, Executive Director - Dominican Republic’s Export and Investment Centre (PRODOMINICANA)
11:30-12:00
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PANEL TWO
What to Expect When You’re Investing
This panel will highlight why the Dominican Republic offers the optimal conditions for diverse investment opportunities. Panellists from UK and Dominican companies will share their pragmatic, first-hand advice for investors and companies interested in doing business in the Dominican Republic.
Moderator: Jacopo Dettoni, Editor - fDi Intelligence
Claudia Leon Campos, Senior Manager, International Tax Advisor, EMEIA Latin American Business Centre - EY
Manuel Cabral, Founding Partner - Blue Compass Consulting
Horacio Rossi, Honorary Vice President - Canning House
12:00-12:30
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CONCLUDING REMARKS
Miriam Stern Velázquez, Director of Trade - Embassy of the Dominican Republic in the UK
Learn more
International companies are increasingly drawn to utilising the Dominican Republic as a logistics and nearshoring hub. Why? The pandemic and US-China decoupling have urged companies to reassess their business and outsourcing strategies. The Dominican Republic has positioned itself as a key destination for nearshoring through its proximity to markets in both North and South America. As a result, the country is now one of the largest Foreign Direct Investment (FDI) recipients in the Caribbean, having received US$4 billion out of the total US$5.9 billion in investment flows to the region from 2021 to 2022. The government is actively attracting further multinationals seeking to expand or relocate their production lines to the Dominican Republic through tax exemptions and other policies.
The Dominican Republic is expanding its physical and technological infrastructure to build a backbone for operating as a global hub for business and trade. The country has focused on developing well-designed and adaptable ports to serve its growing tourism and logistics industries. A prime example is the air cargo logistics hub in the Punta Cana Free Trade Zone, which is expected to begin operations during late 2023.
The UK is optimising the Dominican Republic’s potential as a global trade hub. In June 2023, the UK government signed a Memorandum of Understanding (MOU) with the Dominican Republic, extending a £4 billion credit line for infrastructural projects including in transportation and energy. In terms of trade, the UK and the Dominican Republic hold well-established commercial relations bolstered by the UK-CARIFORUM Free Trade Agreement (FTA). Total trade in goods and services (exports plus imports) between the UK and the Dominican Republic increased to £424 million in the four quarters to the end of Q1 2023. This increase was largely driven by a 37% rise in UK exports to the Dominican Republic, amounting to £286 million, compared to the four quarters to the end of Q1 2022, as UK corporations such as Diageo and Unilever are taking advantage of the Dominican Republic’s growing appetite for imported goods.
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