LATCAM welcomes the new Ambassador of the Dominican Republic in Switzerland

Ramon Esteve, Linda Walker, Dr. Philippe G. Nell and Tatjana Gaspar spoke in a video call with H.E. Ambassador José Sánchez Fung from the Dominican Republic.

The purpose was to welcome the Ambassador in our community, establish a first personal contact, present the Chamber with its stakeholders, business-related activities and opportunities, but also to hear from the Ambassador about his views and plans in the near future.

With a population of 10.6 million, the Dominican Republic has the largest GPD in Central America and the Caribbean and has achieved robust growth over the past decade. Other than tourism, which may be the commonly best-known sector that suffered most through the pandemic, infrastructure, mining, manufacturing and real estate are other important sectors open to foreign investment. They are expected to contribute significantly to the recovery.
In 2020, the country was the third largest source of Swiss imports from Latin America with 1.14 billion, mostly gold (97%). Swiss exports amounted to CHF 34 million with mainly machines, pharmaceuticals, optical and medical instruments. Swiss investment stock amounted to CHF 265 million (2019).
Nestlé has two factories for the domestic market and exports. On November 13, 2020, in the presence of President Luis Abinader and several ministers, Nestlé broke the ground for a biomass plant at the site of San Francisco de Macoris where it produces dairy products. By 2023, Nestlé will invest an additional USD 70 million and by 2025 all packaging will be recyclable and reusable according to Nestlé’s “Zero Waste to Landfill” guidelines.
Swiss investors benefit from an Investment Protection and Promotion Agreement (2006). Trade with the Dominican Republic increased vigorously during the first quarter of this year for Swiss exports (+18%) and imports (+11%).

LATCAM wishes the Ambassador a successful tenure and looks forward to a productive cooperation.