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For once, Doha and London shared an event held simultaneously-- launch of the special issue of LatAm Investor Magazine dedicated to the Dominican Republic but aimed at helping prospective Qatari investors interested in investing in the Dominican Republic’s various sectors.
The Doha edition of the business magazine was unveiled at an impressive function hosted by Ambassador of the Dominican Republic to Qatar HE Dr Federico Alberto Cuello Camilo in the presence of Director of International Technical Cooperation, Ministry of Foreign Affairs, HE Ambassador Tariq al Ansari, aviation expert Mohammed F. al Khater, members of the diplomatic corps and business community of Dominican Republic. 
Speaking on the occasion, ambassador Camilo said that the launch took place simultaneously in London, where former Dominican ambassador Hugo Guiliani hosted a similar event. He said that the special issue confirms 7% growth of Dominican GDP in 2018, again the highest in the region. The high performance of agribusiness, electricity, logistics and mining was responsible for sustaining this growth. The special issue provides in-depth analysis of these sectors, which are prime destinations for new waves of FDI.
“This supports the growing interest of Qatar-based investors, who are considering existing and potential opportunities in tourism, logistics and energy distribution,” the ambassador said, adding that the magazine covers various important interviews including that of Governor of the central bank Héctor Valdez Albizu, Finance Minister Donald Guerrero and Economics Minister of Economy Isidoro Santana.
Quoting the governor of the central bank, Camilo said that Dominican growth rests on the bedrock of macroeconomic stability ensured by prudent monetary policies and an increasingly diversified financial sector. In his opinion, the economic performance would have a larger social impact through a combination of flexibility in labour market and higher real wages.
He said that this message is further reinforced by the Economics Minister who greatly values the very high labour productivity observed in the Republic. This, in the context of a diversified export base, makes the economy more resilient in the face of international shocks.
For the Finance Minister, the future fiscal health of the nation depends on effective crackdown on tax evasion. Tax management rather than tax reform is his priority. And, while the budgeting process continues to be streamlined, government procurement follows international standards for transparent, competitive bidding open to all players, he added.
The Dominican envoy said that private sector actors highlight the potential for diversifying the energy matrix, with the ongoing substitution of oil for LNG, the imminent entry of one gigawatt of coal-fired generating capacity and the steady growth of renewables.
The most impressive performance, however, is in logistics, where the port of Caucedo in the South saw an increase of 36% in the cargo volumes handled after the expansion of the Panama Canal, by tripling its capacity, dredging the depth of the port basin and structuring its operations as a logistics center, with a view to becoming the hub of the Americas. Players like Ikea rely on Caucedo for its logistics operations with the rest of the region.
“These are all key messages that I hope will resonate beyond these walls with the wider business community based in Doha, a leading source of investment for the world, and a beacon of diversification as an essential element of a resilient development strategy”, concluded Ambassador Cuello Camilo.
Director for International Cooperation at the Ministry of Foreign Affairs Tarek al Ansari thanked the Dominican Republic ambassador for taking the initiative of launching the special issue in Doha. “Your drive as ambassador here will lead us to look at your country with fresh eyes. For many years now the Dominican Republic has been the growth leader in the region and your sectors of interest are also of interest to Qatar.”
Economist, pilot and aviation expert at MOFA Mohammed Fahad al Khater also valued the opportunities the Dominican Republic presents, wishing for the full and expeditious entry into force of the Open Skies Agreement between Qatar and the Dominican Republic. “Based on the fifth freedom, Qatar Airways will be able to fly from the Dominican Republic to the rest of the Americas, thus helping the Dominican Republic consolidate its role as a hub for the region. It is a huge opportunity for us as well to source important foodstuffs in the region for consumption in Qatar, thus helping boost our trade flows”, said al Khater.
Fadi el Hassan, a Dominican citizen and Chairman Midwil Trading Inc lauded his embassy’s efforts in strengthening bilateral relations between Qatar and the Dominican Republic. He said that Dominicans working in Qatar are extremely happy to be part of Qatari society and its success story. 
Ambassador Camilo thanked  Dr Raed Omari, Abdulaziz Alatteya and Mir Asrar of Group 8 Holding for their valuable support and sponsoring of the event held at the Diplomatic Club as well as printing of the magazines in Doha.
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11/04/2019
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