Business Scope

Business Scope in the Dominican Republic
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The Dominican Republic happens to be among the Caribbean’s utmost geographically diverse nations, with impressive mountain scenery, beaches galore, desert scrublands, and evocative colonial architecture. Dominicans have witnessed civil and political disorder, export-oriented busts and booms, ethnic tensions, and long times of army rule. The Republic comprises the lowest and highest advancements in the West Indies. Its main mountain collections and stretched, fertile valleys mostly extend to southeast from northwest (Defever, 2017). Therefore, this paper will discuss current issues of business scope in the Dominican Republic. The current issue in the Republic is the establishment of free trade zones which have expanded the business scope in the country.
A free zone refers to a section or an area that the administration established so as to attract foreign industry to create fresh operations or facilities. In utmost cases, the free zones are likely to be more attractive to the companies undertaking light manufacturing or assembly. However, numerous service-oriented firms are also discovering that an order processing or call center operation could enjoy tremendous levy and other benefits as well. The Dominican is well recognized for its agricultural and tourism business, with one of the biggest economies amongst the Caribbean countries. Its vacation industry is generally credited to the reputation of the nation’s beautiful areas, like the secluded Punta Cana, its bountiful wildlife, and hills, which draws tourists globally each year.

The construction industry is another main sector of commercial opportunity for the people attracted by the booming travel and tourist trade in the Republic of Dominican, as additional and more travelers call at the country’s lively capital, Santo Domingo, amongst other localities in the republic. Nevertheless, among the most valued aspects of Dominican Republic’s booming tourism industry is its numerous establishment of free trade zones (Ahdiyyih, 2016). Nations with free trade zones are treasured by business investors and entrepreneurs as regions of promising trade environments and excellent locations of firm operations. Indeed, the free trade zones in Dominican are deliberated among the top causes of economic development for the republic in latest years.
Entrepreneurs are intending to plunge into the commercial and retail opportunities offered in the Dominican Republic’s free trade zones. Likewise, financiers are capable of getting involved in the developing business and trade in these segments by adopting innovative and new business proposals. For overseas investors, being in a position to discover what the republic’s businesspersons have to provide before settling in the Dominican Republic could be the main convenience. Opportunities aren’t restricted to the Dominican Republic nevertheless; entrepreneurs and investors could easily link to other trade people through the Caribbean countries. The Dominican Republic’s free trade zones is an engine for jobs and competitiveness. Such zones provide a path towards inclusive and sustainable economic growth. Its effective use can attract direct foreign investment and provide better-paid jobs.
The Dominican Republic is among the utmost progressive and finest locations for companies seeking a site to develop business with least levies and very sensible labor costs. Its closeness to America, exceptional trade treaties with the United States and European Union which offer zero or little export taxes for goods disseminated in the European marketplace make it a perfect location. The reality that the Republic has been rated as fourth in the globe in relation to the free zone facilities, is proof that it has converted to a favored home for business. Therefore, the Dominican Republic has expanded the business range for the country by establishing free trade zones.
References
Ahdiyyih, S. (2016, April 19). Special Economic Zones in the Dominican Republic. Retrieved April 24, 2018, from https://www.researchgate.net/publication/317617029_Special_Economic_Zones_in_the_Dominican_Republic_Policy_Considerations_for_a_More_Competitive_and_Inclusive_Sector
Defever, F. (2017). DOMINICAN REPUBLIC. Retrieved April 24, 2018, from https://ustr.gov/sites/default/files/2014%20NTE%20Report%20on%20FTB%20Dominican%20Republic.pdf