News

Dominican Republic in Process of “Shifting” Its Economic Model

By: Caribbean Journal Staff - March 26, 2012

Above: President Leonel Fernandez at the French-Dominican Business Forum (Photo: CIG)

By the Caribbean Journal staff

The Dominican Republic is in the process of shifting its economic model from one that is labour-intensive to one that is capital intensive, according to President Leonel Fernandez.

Fernandez, who was speaking at the French-Dominican Business Forum, said the legal framework implemented over the next two decades would redefine all sectors of national economic life.

The changes are coming from the country’s National Development Act and due to external factors, he said.

The country’s Free Zone sector, for example, long focused on the production of textiles, had been affected by the presence of cheap labour from China.

Now, the country has moved from a pure assembly system to a higher-value-added system, in a bid to revive the Free Zone sector, he said.

The country is looking to shift its tourism model, too, he said, expanding beyond sun, sea and sand to aquatic games, golf and ecological tourism.

The latter has been a push by a number of Caribbean countries, from Dominica to the island of Nevis.

Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts st kitts cockleshell beach

Caribbean Airlines Makes Inaugural Flight to St Kitts 

Caribbean Airlines has added a new destination in the region: the Eastern Caribbean island of St Kitts.  The regional carrier’s first-ever flight to St Kitts’ Robert L Bradshaw International Airport touched down this week, a major milestone for efforts to […]


How to Keep Celebrating 50 Years of The Bahamas’ Independence 

visitors

The Bahamas marked its 50th anniversary of independence on July 10, and the country is continuing its Golden Jubilee celebration with a host of activities around the 700-island archipelago including a major event in Nassau to hoist the Bahamian flag.  […]


The Caribbean Tourism Organization Has a New Secretary General 

caribbean tourism organization

The Barbados-based Caribbean Tourism Organization has its long-awaited new top executive.  Saint Lucia native Dona Regis-Prosper has been appointed as the organization’s new Secretary General and chief executive officer.  Regis-Prosper’s appointment will take effect on Sept. 1, 2023; she will […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You