NewsWhore
11-18-2011, 03:00 PM
During the years of the Chavez administration in Venezuela, capitalists and wealthy Venezuelans have been investing heavily in the Dominican Republic, as reported in El Dia. These investments have mainly focused on tourism ventures, vacation properties and commercial malls and chain stores, as well as finances. The Dominican Republic Center for Export & Investment (CEI-RD) reports that Venezuelan investment has surpassed US$900 million.
"What moves them to choose the Dominican Republic is that the markets are similar and the trust they have in the business climate in the country," Eddy Martinez told El Dia.
Salvador Demallistre, executive director of the Association of Foreign Investment companies (Asiex) concurs that the companies are attracted by the economic strength and stability shown by the Dominican Republic.
The high profile projects include the Blue Mall projects in Santo Domingo and Punta Cana, a US$345 million investment. Novo Centro Mall is reported to have cost US$60 million and the Grupo Cohen of Venezuela is investing US$200 million in Sambil mall, said to be the largest in Santo Domingo.
The Cisnero Group is looking at US$1.2 billion in the Tropicalia hotel project in Miches, a US$450 million in its first phase. Another tourism project, La Estancia in La Romana, is worth US$120 million.
Venezuelan investment in Seguros Constitucion totals US$7 million.
More... (http://www.dr1.com/index.html#4)
"What moves them to choose the Dominican Republic is that the markets are similar and the trust they have in the business climate in the country," Eddy Martinez told El Dia.
Salvador Demallistre, executive director of the Association of Foreign Investment companies (Asiex) concurs that the companies are attracted by the economic strength and stability shown by the Dominican Republic.
The high profile projects include the Blue Mall projects in Santo Domingo and Punta Cana, a US$345 million investment. Novo Centro Mall is reported to have cost US$60 million and the Grupo Cohen of Venezuela is investing US$200 million in Sambil mall, said to be the largest in Santo Domingo.
The Cisnero Group is looking at US$1.2 billion in the Tropicalia hotel project in Miches, a US$450 million in its first phase. Another tourism project, La Estancia in La Romana, is worth US$120 million.
Venezuelan investment in Seguros Constitucion totals US$7 million.
More... (http://www.dr1.com/index.html#4)