Carib Scope

分类： business

  • St. Kitts and Nevis Expands Investment Focus to Agriculture, Renewable Energy and Technology

    St. Kitts and Nevis Expands Investment Focus to Agriculture, Renewable Energy and Technology

    For decades, tourism has anchored the economy of the Federation of St. Kitts and Nevis, drawing visitors and international capital to its Caribbean shores. But by 2026, the small island nation is undergoing a deliberate economic expansion, broadening its priority investment sectors to include agriculture, aquaculture, renewable energy, information technology, financial services, light manufacturing and international education. This strategic diversification, overseen by the St. Kitts Investment Promotion Agency (SKIPA), is designed to build economic resilience, create new employment opportunities and unlock growth across multiple high-potential industries, even as tourism remains a core pillar of the national economy.

    Backed by an International Monetary Fund (IMF) projection of 2.5% medium-term economic growth for 2026, the Federation’s new investment framework offers global investors clear entry points across both established and emerging sectors. Growth is expected to be driven by expanding construction activity, rising agricultural output, utility-scale renewable energy development and continued expansion of the tourism industry, creating a stable foundation for new capital inflows.

    ### Modernizing Agriculture and Unlocking Blue Economy Potential
    Agriculture and aquaculture have emerged as top investment priorities, with opportunities stretching across every segment of the food production value chain, far beyond traditional small-scale cultivation. SKIPA has highlighted a wide range of open opportunities for investors, including commercial large-scale farming, hydroponic production, agro-processing, packaging infrastructure, climate-resilient storage facilities, inter-regional distribution networks and aquaculture development.
    This full-value-chain approach allows investors to engage at any stage of production: from technology-driven growing operations to post-harvest processing and distribution that adds significant value to local goods before they reach consumers.
    As part of its aquaculture agenda, the Federation is advancing both land-based and marine-based production to boost domestic food security, increase local fish and seafood output, and reduce unsustainable pressure on wild ocean fisheries. High-potential investment openings include cultivation of tilapia, shrimp and commercial sea moss, positioning the sector as a key player in the Caribbean’s growing blue economy.

    ### Accelerating the Energy Transition With Incentivized Renewable Projects
    St. Kitts and Nevis is pursuing a full transition away from expensive, fossil fuel-dependent power generation, opening multiple utility-scale and infrastructure investment opportunities in solar, wind, geothermal, hydropower and waste-to-energy. The country’s National Energy Policy actively encourages public-private partnerships to finance, develop and manage new renewable energy projects, with SKIPA outlining specific, shovel-ready opportunities for investors. These include 2-5 MW waste-to-energy facilities, 2-5 MW solar farms, 2-5 MW onshore wind projects, a 10 MW geothermal plant, and distributed infrastructure such as LED and solar-powered street lighting networks.
    To reduce upfront costs for investors, the government offers full import duty and customs service charge exemptions for all approved renewable energy equipment, including solar photovoltaic panels, wind turbines, solar water heating systems, solar air conditioning units and related project hardware. This policy support creates a favorable environment for investors looking to participate in the Federation’s transition to a low-cost, low-carbon energy system.

    ### Building Out a Competitive Digital Economy
    The third emerging investment pillar is information and communications technology (ICT), as St. Kitts and Nevis advances a national digital transformation strategy led by the National ICT Centre. Existing public digital infrastructure already includes end-to-end e-government services, dedicated ICT technical support, government cloud (G-Cloud) services, a regional innovation hub, digital telephony networks and specialized digital skills training facilities.
    SKIPA’s investment framework targets growth in business process outsourcing and digital services, with openings for investment in call centers, credit card application processing, transaction management, data entry and research, database administration, web application development and custom software development. The Federation is also developing a national Internet Exchange Point (IXP), which will reduce connectivity costs by enabling local peering between internet service providers and content platforms, while improving performance for digital services, strengthening national cybersecurity, enhancing emergency management communications and expanding access to digital educational content.

    ### Leveraging Regional Position for Advanced Financial Services
    Financial services are already one of the Federation’s most established non-tourism economic sectors, and St. Kitts has positioned itself as a leading financial hub for the Eastern Caribbean region. The country is home to key regional financial institutions including the Eastern Caribbean Central Bank, the Eastern Caribbean Securities Exchange and the Eastern Caribbean Central Securities Depository, giving investors access to an integrated regional financial ecosystem.
    The sector welcomes investment across a full range of activities, including deposit-taking institutions, investment management, insurance, trust services and corporate services, all operating under a robust regulatory framework aligned with international transparency and compliance standards. Legal structures available to investors include ordinary and exempt companies, limited partnerships, trusts, foundations and captive insurance companies, with the Financial Services Regulatory Commission providing clear, consistent supervision of the non-bank financial sector.

    ### Tourism Remains Central to Economic Growth
    While the Federation is actively diversifying its economy, tourism remains a core strategic sector and a major driver of GDP, foreign exchange earnings and employment. SKIPA continues to highlight significant untapped investment opportunities in the hotel sector and broader visitor economy, with existing and new developments already expanding the country’s total accommodation stock. High-end, luxury tourism is specifically identified as an area with strong potential for further growth and new capital investment.

    ### Strategic Advantages for United States Investors
    The Federation’s geographic and temporal positioning creates unique advantages for investors from the United States. St. Kitts and Nevis operates in the Atlantic Time Zone, aligning it fully with the U.S. East Coast business schedule – a major benefit for information technology and business process outsourcing firms serving North American clients. For light manufacturing investors, the country’s proximity to U.S. markets reduces shipping times and transportation costs, creating a competitive base for regional production and distribution.
    These aligned advantages create tailored entry points for different U.S. investor segments: technology firms can leverage the time zone alignment for digital and business process services, manufacturing investors can capitalize on proximity to major North American markets, energy investors can access pre-vetted renewable energy project pipelines, and education providers can explore opportunities in the country’s regulated international education sector. SKIPA serves as a single centralized point of contact for all international investors, providing comprehensive support for market intelligence, business establishment and ongoing operational guidance regardless of the investor’s home market.

  • City vendors told to use $5K payout wisely, keep up with rent

    City vendors told to use $5K payout wisely, keep up with rent

    A long period of business disruption for local vendors in Castries, Saint Lucia, took a step toward resolution on Tuesday, when 95 impacted sellers received compensation cheques for months of forced displacement from their regular workspaces. The disruption stemmed from the ongoing Castries Vendors Arcade redevelopment, a core component of the larger Saint Lucia Cruise Port Redevelopment Project along the city’s waterfront, which required vendors to vacate their permanent stalls for multiple months.

    Earlier this year, Prime Minister Philip J. Pierre first announced the government’s commitment to delivering financial relief to the displaced vendors, a promise fulfilled during Tuesday’s official cheque distribution ceremony hosted at Castries City Hall. In total, officials disbursed EC$433,143.30 in ex-gratia payments to eligible sellers, though payouts were not uniform across recipients.

    Payments were structured around each vendor’s outstanding rent balance owed to the Castries City Council, with sellers split into three tiers: Low Balance, Medium Balance, and High Balance. Vendors in the Low Balance category, who owed little to no back rent, received the full standard payment of EC$5,263.16. For vendors in the Medium and High Balance groups, a portion of the compensation was automatically deducted to settle outstanding rent obligations. In a small number of cases, the total unpaid rent even exceeded the full value of the ex-gratia payment, leaving vendors with no net payout from the distribution.

    Beyond delivering financial relief, senior government and port officials used the ceremony to share guidance and announce upcoming support programs for vendors as they prepare to move into the redeveloped arcade. Prime Minister Pierre encouraged vendors to adopt formal business management practices, emphasizing that daily sales revenue should not be confused with net profit.

    “Sales are not profit… When you have a good day, and you see things looking nice, don’t push your hand in it. You have to pay rent, you have to pay for the goods that you sell… You must treat it [vending] as a business,” Pierre told attendees. He also stressed the value of continued skills development, noting, “You are never too old to learn.”

    In line with that message, Saint Lucia Cruise Port has scheduled a specialized training program to help vendors maximize the benefits of their new, upgraded facilities once construction is complete. Lancelot Arnold, Director of Saint Lucia Cruise Port, also revealed that plans are in motion to form a new partnership with Export Saint Lucia after vendors relocate to the renovated space. This partnership will connect local vendors with domestic producers, expanding their access to a wider range of locally made goods tailored to the interests of the island’s cruise ship tourists.

    Officials also used the event to issue a reminder about ongoing rent obligations, referencing a 2021 rent reprieve program designed to help vendors catch up on outstanding balances. With the current compensation already being used to clear back rent, authorities urged vendors to avoid falling behind on payments again. The government made clear that financial assistance should not become an enabler for persistent non-payment, particularly for vendors who have a history of falling behind on their financial commitments to the city council.

  • Vijfjarig programma met UNIDO moet lokale verwerking en industrie versterken

    Vijfjarig programma met UNIDO moet lokale verwerking en industrie versterken

    On the sidelines of the United Nations General Assembly in New York on Monday, the government of Suriname and the United Nations Industrial Development Organization (UNIDO) formalized a landmark five-year partnership framework aimed at accelerating the country’s long-term economic transformation. The Programme for Country Partnership (PCP) for 2026-2031 sets out an ambitious agenda to boost local processing of raw materials and agricultural goods, attract targeted foreign and domestic investment, strengthen small and medium enterprise (SME) entrepreneurship, and expand inclusive, quality job creation across the nation.

    The agreement was signed by Suriname’s Minister of Economic Affairs, Entrepreneurship and Technological Innovation (EZOTI) Andrew Baasaron and UNIDO Director-General Gerd Müller. Designed as a collaborative strategic framework, the PCP brings together government stakeholders, private sector actors, development partners, and global financing institutions to co-develop projects and mobilize capital for inclusive industrial growth. A core guiding principle of the initiative is retaining greater economic value within Suriname’s borders, moving the country beyond its historical reliance on exporting unprocessed raw materials and agricultural commodities by scaling local production of semi-finished and finished goods. Priority sectors targeted for expansion include agro-industry, light manufacturing, and the strengthening of local end-to-end value chains.

    Minister Baasaron emphasized that the new partnership aligns directly with Suriname’s national strategy to build long-term economic growth rooted in sustainable diversification. The initiative places targeted focus on high-priority inclusive development goals: expanding youth employment and entrepreneurship, advancing women’s economic empowerment, accelerating digital adoption across industries, and ensuring meaningful participation of Indigenous and Tribal communities in economic growth. “Suriname has embarked on a path of economic growth, built on the sustainable diversification of our economy,” Baasaron stated during the signing ceremony, noting that teams from EZOTI and UNIDO had spent months refining the program’s details to fit Suriname’s unique national context.

    The PCP is structured around four core pillars that guide all planned activities under the framework. The first pillar focuses on improving policy, regulatory frameworks, and institutional capacity to support sustainable industrial development. The second pillar works to boost the competitiveness of domestic enterprises, scale resilient agro-industrial value chains, advance green industrial development, and expand workforce skills training to meet growing industry demand. Third, the initiative prioritizes mobilizing green and blended financing to support productive private and public investment across targeted sectors. The fourth and final pillar centers on developing forest-related value chains and growing Suriname’s emerging bio-economy.

    As part of the broader program, stakeholders will also explore the potential development of Special Economic Zones (SEZs) to further attract investment, expand industrial activity, and increase local value addition. UNIDO confirmed that Director-General Müller has committed the organization’s full support to developing a regulatory and operational framework for sustainable SEZs in Suriname if the initiative moves forward. A key cross-cutting requirement baked into the PCP is ensuring industrial expansion does not come at the cost of Suriname’s rich natural ecosystems. The program is designed to pair economic growth with protection of the country’s status as one of the world’s most heavily forested nations with low rates of deforestation. As such, climate resilience, efficient natural resource management, and low-carbon development are integrated into every pillar of the initiative.

    For Suriname’s small and medium-sized enterprises (SMEs), the PCP will create new pathways to expand production capacity, boost global competitiveness, and gain improved access to financing and investment opportunities that have historically been out of reach for many smaller domestic businesses. Beyond industrial growth, the program maintains a constant focus on creating quality formal employment, with targeted outreach to increase job opportunities for young people and women across all sectors. It is important to note that the signing of the framework document does not mean all proposed projects and planned investments have already secured full funding. Instead, the PCP acts primarily as a shared strategic roadmap that will guide the government, UNIDO, financing partners, development organizations, and the private sector as they work to develop and fund concrete projects over the coming five years from 2026 through 2031.

  • Inflatie daalt naar 8 procent, groenten en fruit fors duurder

    Inflatie daalt naar 8 procent, groenten en fruit fors duurder

    In a preliminary data release published Tuesday, Suriname’s General Bureau of Statistics (ABS) confirmed that the country’s annual inflation rate continued its downward trend in August 2026, falling to 8.0% from 8.9% recorded in July. This marks the fourth straight month of cooling price growth following a peak of 11.4% in May, when the 12-month rate came in at more than double the August reading.

    Month-over-month, consumer prices saw a modest 0.3% increase between July and August 2026, a far slower pace of growth than seen in earlier months of the year. Despite the steady decline in annual inflation, the 12-month average inflation across the past year still stands at 10.6%, far above the August 2026 year-on-year reading.

    Behind the headline 8.0% average inflation figure, there is stark variation in price changes across different product and service categories. The most significant year-on-year price hikes were concentrated in essential consumer goods and services: medical and paramedical services recorded the largest annual increase at 28.2%, followed closely by fresh fruits and vegetables, which cost 28.1% more than in August 2025. Dairy products and eggs rose 13.7% year-on-year, while other food categories and non-alcoholic beverages saw a 12% annual increase.

    Not all food items saw price increases in August, however. Compared to July, seafood products including fish, fish products and shrimp fell 3.2% in price, while meat and meat products dropped 0.8% on a monthly basis. Even with these monthly declines, both categories remain more expensive than they were a year ago, up 9.9% and 5.9% respectively year-on-year. Sugar and sugar products emerged as a rare category with annual deflation, coming in 4.5% cheaper than in August 2025.

    Prices for food consumed outside the home continued to outpace average inflation, with restaurant and takeaway meals up 11.7% year-on-year, and pre-prepared bread, pastries and snacks rising 13.3% annually. Communication equipment and services also saw above-average growth, with prices up 15.2% compared to August 2025.

    ABS officials emphasized that the headline inflation rate is a weighted national average, and may not match the actual cost of living experience for every individual consumer. Price movements for the 316 separate goods and services included in the consumer price index (CPI) basket ranged widely in August, from a 46% price drop to a 201% price increase for certain items.

    The August 2026 CPI came in at 978.7, up slightly from 976.2 in July. ABS collects price data for the CPI basket from approximately 630 measurement points across seven of Suriname’s districts, but does not currently conduct price sampling in the inland districts of Marowijne, Brokopondo and Sipaliwini, where consumer prices are generally many times higher than in coastal regions.

  • Sandals reportedly in US$6-billion talks with Royal Caribbean

    Sandals reportedly in US$6-billion talks with Royal Caribbean

    One of the world’s leading cruise operators, Royal Caribbean Group, is in advanced discussions to purchase a majority controlling stake in Caribbean resort giant Sandals Resorts International, multiple sources familiar with the talks told the Financial Times in a report published Tuesday. The ongoing negotiations value the iconic Caribbean hotel chain at more than US$6 billion, a figure that reflects the full enterprise valuation of Sandals rather than the sum Royal Caribbean would pay for its controlling share. As of this reporting, no binding agreement has been reached between the two parties.

    Per details of the negotiations outlined by the Financial Times, the Stewart family, which founded and has long owned Sandals, would maintain a minority stake in the business after the transaction closes. While insiders suggest a formal deal could be finalized within the next several days, the discussions remain fluid and could still collapse without resulting in a transaction, the report noted.

    The potential acquisition carries notable implications for Antigua and Barbuda, where Sandals operates its flagship adults-only all-inclusive property, Sandals Grande Antigua, along the popular Dickenson Bay coastline. The resort is a key contributor to the island nation’s core tourism sector, though there has been no indication that the proposed change in ownership would bring immediate alterations to the property’s daily operations, existing staff arrangements, or confirmed guest bookings.

    For Royal Caribbean, the proposed deal marks a major strategic expansion beyond its core cruise line business, allowing the company to extend its brand footprint into the on-land Caribbean resort market. If completed, the transaction would stand as the largest acquisition in Royal Caribbean’s corporate history, the Financial Times reported. All key terms of the proposed deal, including the final purchase price for the controlling stake, formal ownership structure breakdown, and official closing timeline, remain unconfirmed as talks continue.

  • César Iglesias’ net profit plunges 99%

    César Iglesias’ net profit plunges 99%

    ### A Tumultuous 2025 for Dominican Conglomerate César Iglesias
    Based in the Dominican Republic’s capital Santo Domingo, consumer and industrial conglomerate César Iglesias closed out 2025 with a dramatic 99% collapse in net profit — a figure that has often been misinterpreted as a collapse in the company’s share value, a distinction that is critical for investors to understand.

    According to the firm’s audited 2025 financial statements, net income dropped sharply from RD$438.4 million in 2024 to just RD$4.5 million last year. This staggering decline occurred even as top-line revenue held relatively steady, inching up 1.7% year-over-year to hit RD$22.877 billion. The primary drag on profitability came from ballooning net financial expenses, which jumped 23.9% from RD$851.2 million in 2024 to roughly RD$1.055 billion in 2025. On top of rising financing costs, operating profit also trended downward, and a RD$259.1 million income tax obligation further eroded the company’s final annual earnings.

    ### Clarifying the Gap Between Profit and Share Price Performance
    A common point of confusion for market observers has been differentiating between the 99% net profit decline and the performance of César Iglesias’ publicly traded stock. The company made its debut on the Dominican Republic stock exchange in August 2023, with an initial public offering (IPO) price of RD$128.84 per share. Robust early investor demand pushed the share price to an all-time high of around RD$170 shortly after listing, before entering a prolonged downward correction.

    By the end of 2024, shares closed at RD$132.99, and finished 2025 at approximately RD$119.50. In early 2026, the stock hit a low of roughly RD$90 per share in March — a 30% drop from the original IPO price and a 47% pullback from its 2023 peak. The stock has since recouped some of those losses, with recent market valuations placing it in the range of RD$100 to RD$110 per share. While the share price has declined from both its IPO and all-time high levels, this drop is far less severe than the 99% collapse in annual net profit.

    ### Continued Aggressive Investment Amid Profit Headwinds
    Despite the severe earnings decline in 2025, César Iglesias maintained aggressive capital expansion plans, doubling down on long-term growth initiatives. The firm allocated approximately RD$1.6 billion to capital expenditures in 2025 — more than twice the amount it invested in 2024. These funds went toward key strategic projects, including the expansion of its central distribution network, the first construction phase of a new paper production facility, and upgraded manufacturing infrastructure for soap raw materials.

    In May 2025, the company also raised roughly RD$4.948 billion through a secondary share placement of 38.7 million new shares. However, in response to weak full-year 2025 results and to preserve cash liquidity for ongoing operations and its expansion program, the firm’s board opted to forgo dividend distributions from 2025 earnings entirely.

    ### Early 2026 Results Show Encouraging Operating Improvement
    César Iglesias has kicked off 2026 with notably stronger operating performance, signaling a potential turning point after the challenging prior year. In the first quarter of 2026, ordinary revenue reached approximately RD$5.967 billion, while operating profit grew 20% year-over-year to hit RD$445 million. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at RD$629 million, and management reduced total financial debt by roughly RD$157 million compared to the end of 2025. First-quarter performance also marked a milestone for the firm: average net sales per working day surpassed RD$100 million for the first time, hitting RD$101.1 million.

    These early indicators confirm that after a bruising 2025, César Iglesias has entered 2026 with improved operating momentum and progress on its goal of deleveraging its balance sheet. That said, the solid first-quarter improvement alone is not enough to reverse the severe profitability decline the company recorded in 2025.

    ### Market Relevance: Dominican Pension Funds as Key Shareholders
    The performance of César Iglesias stock carries particular significance for the country’s retirement system, as leading Dominican pension funds were major participants in the company’s 2023 IPO. According to local financial outlet *El Avance*, three of the country’s largest pension administrators — AFP Reservas, AFP Crecer, and AFP Siembra — purchased a combined 27.1 million shares at the original IPO price, investing a total of RD$3.492 billion.

    The subsequent drop in share price has pushed the market value of these holdings below their original purchase cost at multiple points in 2025 and early 2026. However, industry analysts note that the César Iglesias investment makes up only a small fraction of the pension funds’ diversified overall portfolios, limiting broader systemic risk.

    ### Looking Ahead: Can the Current Momentum Translate to Sustained Profit Recovery?
    Today, César Iglesias operates across three distinct performance realities: its net income suffered an almost 99% collapse in 2025; its share price remains below IPO levels and far off its 2023 all-time high, despite a partial recovery from early 2026 lows; and its core sales base remains solid above the RD$22 billion annual mark, with early 2026 results showing improving operations and falling debt.

    The key question for investors and stakeholders going forward is whether the company can leverage its ongoing expansion investments, improving operating performance, and debt reduction strategy to deliver a sustained recovery in profitability. This outcome will be particularly critical, as the 2025 profit decline was driven largely by the spike in financing costs that continues to weigh on the firm’s bottom line.

  • SDQ MICE 2026 brings 50 international buyers to explore Dominican tourism

    SDQ MICE 2026 brings 50 international buyers to explore Dominican tourism

    The Dominican Republic’s capital, Santo Domingo, has opened the sixth iteration of its flagship MICE (Meetings, Incentives, Conferences, and Events) industry gathering SDQ MICE 2026, an initiative designed to cement the nation’s standing as a top global MICE destination through targeted business networking, hands-on destination exploration, and industry capacity building.

    Organized by the Santo Domingo Hotel Association (AHSD), the 2026 edition brings together 50 vetted international buyers from 11 key global markets—including the United States, United Kingdom, Mexico, Colombia, Argentina, Chile, Panama, Costa Rica, Uruguay, Ecuador, and Puerto Rico—alongside more than 50 Dominican tourism operators representing leading destinations across the country: Santo Domingo, Santiago, Juan Dolio, Puerto Plata, and the renowned beach resort hub Punta Cana. Over the course of the event, the two groups are scheduled to hold more than 1,000 one-on-one business-to-business meetings, laying the groundwork for new partnerships and future event bookings.

    In her opening remarks, AHSD President Gina Eli emphasized that the core mission of the event is to let international decision-makers experience firsthand the diverse tourism infrastructure and hospitality offerings that make Santo Domingo an attractive MICE host, rather than just marketing the destination from afar. By facilitating direct engagement, the association aims to shift international perceptions and strengthen the capital’s reputation as a competitive, accessible MICE location.

    The multi-faceted event agenda blends structured deal-making, professional development, and immersive cultural experiences. Beyond the core B2B meeting schedule, participants can access academic training sessions, industry networking opportunities, and guided visits to top local attractions, including the UNESCO-listed Colonial City, Santo Domingo Bay, and the coastal Boca Chica region. To showcase the Dominican Republic’s ability to host multi-city MICE itineraries, the event will wrap up with an official post-event tour of Punta Cana, highlighting the nation’s range of offerings from cultural city breaks to tropical beach getaways.

    A key strategic component of this year’s SDQ MICE is a new partnership with global industry firm MICE Consulting, focused on refining the destination’s long-term MICE strategy, boosting its international brand visibility, and unlocking new global business opportunities. The academic track features a keynote address from Martin Boyle, CEO of the International Association of Professional Congress Organisers (IAPCO), who will break down emerging global industry standards and the evolving factors that influence event organizers’ destination selection decisions.

    Beyond business development, SDQ MICE 2026 places significant focus on two critical priorities for the global tourism sector: sustainability and emerging talent development. For sustainability, AHSD highlighted the ongoing impact of its Ruta PET initiative, a recycling program operated across 16 local hotels that has already trained more than 350 hospitality employees in sustainable waste management and recovered 7.25 tons (over 14,500 pounds) of recyclable PET plastic. The event also showcases the Future Leaders program, which creates pathways for local university students to enter the MICE industry by connecting them with seasoned professionals through educational workshops and networking engagements.

    To give international buyers a deeper look at the Colonial City’s unique appeal, organizers have planned a special Experiential Rally that lets participants explore the district’s centuries of history, cultural heritage, diverse local gastronomy, vibrant visual and performing arts, traditional music, and renowned Dominican hospitality firsthand.

    SDQ MICE 2026 counts the Dominican Republic’s Ministry of Tourism (Mitur) as its main sponsor and strategic ally, with additional support from a coalition of leading tourism industry bodies including the Santo Domingo Tourism Cluster, Turenlaces, OPETUR MICE, Adompretur, and Turio, among other local and national sector partners. Ultimately, the event aims to turn new business connections and first-hand impressions into tangible long-term opportunities, not just for Santo Domingo, but for the entire Dominican Republic’s MICE sector as it competes for a larger share of the global events market.

  • Dominican Week in London to showcase Investment and Business Opportunities in the Dominican Republic

    Dominican Week in London to showcase Investment and Business Opportunities in the Dominican Republic

    Santo Domingo, Dominican Republic – The Dominican Republic is preparing to showcase a diverse portfolio of investment and trade opportunities to the United Kingdom business community during the 12th edition of Dominican Week in the UK, scheduled for November 1 to 5, 2026. While the Caribbean nation has long been a recognized global leader in international tourism, this upcoming event will extend far beyond that sector, highlighting emerging and growing opportunities across clean energy, advanced manufacturing, tech development, agricultural exports and more.

    Organized collaboratively by the British Chamber of Commerce of the Dominican Republic (BritChamDR), the Dominican Embassy in the UK, and the British Embassy in Santo Domingo, the 5-day event will convene senior government officials, leading business representatives and key institutional stakeholders from both nations. The core objectives of the gathering are to attract new foreign direct investment to the Dominican Republic, strengthen existing bilateral trade ties, and identify untapped areas for cross-border cooperation between the two countries.

    A high-profile lineup of speakers and participants has been confirmed for the event, including Ryan Polanco, President of BritChamDR; Carolina Mejía, Mayor of the Dominican Republic’s National District; Vladimir Camilo Pimentel Florenzán, Executive Director of ProDominicana (the Dominican Republic’s investment and export promotion agency); and Francisco A. Caraballo Núñez, Vice Minister for Bilateral Foreign Policy at the Dominican Ministry of Foreign Affairs. Representing the UK government will be Uma Kumaran, Parliamentary Under-Secretary of State for the Overseas Territories, the Caribbean and Global Technology, while the Dominican Republic’s diplomatic delegation will be led by Rosa Hernández de Grullón, Ambassador Extraordinary and Plenipotentiary of the Dominican Republic to the United Kingdom. Additional participants will include senior representatives from leading Dominican public and private entities such as ProDominicana, Banco Popular Dominicano, the Ministry of Tourism, Inicia and Grupo Estrella, alongside a wide range of UK-based public and private sector stakeholders.

    Over the course of the five-day agenda, attendees will explore multiple high-growth areas for investment and partnership. A top priority is unlocking capital for clean energy and sustainability projects in the Dominican Republic, while also highlighting the country’s competitive advantages for advanced manufacturing and nearshoring operations seeking proximity to North American and European markets. Discussions will also center on forging new cooperative partnerships between UK universities and Dominican institutions in the strategic technology sectors of artificial intelligence and semiconductor development, areas that the Dominican government has identified as critical to building the country’s long-term technological and productive capacity.

    Expanding Dominican agro-exports to the UK market will be another key focus of talks, with participants set to examine the growing commercial opportunities created by the UK-CARIFORUM Economic Partnership Agreement, a trade deal that the Dominican Republic benefits from as a member of CARIFORUM. While tourism will retain a prominent place in the event agenda – aligned with the country’s core strengths in this sector – it will be framed as part of a broader diversified economic offering. On November 4, the Dominican Ministry of Tourism will host a dedicated promotional event for UK tour operators and travel agencies, coinciding with the 2026 World Travel Market (WTM) London, one of the world’s largest and most influential travel industry trade shows, which runs from November 3 to 5 at ExCeL London. This alignment will allow the Dominican Republic to showcase its world-class tourism product to a global audience of industry buyers and stakeholders, while also presenting a broader narrative of the country as a competitive platform for international investment, production and cross-border trade.

    The 12th Dominican Week will conclude on November 5 with the traditional “Cigar and Rum Night” hosted at the Dominican Embassy in London, bringing the formal business and institutional agenda to a close. Organizers note that this year’s edition continues the event’s evolution into a permanent, high-impact platform for connecting public and private sector leaders from both nations, with the long-term goal of firmly positioning the Dominican Republic in the UK as a reliable, forward-thinking trade and investment partner that delivers tangible opportunities across tourism, energy, technology, manufacturing and agricultural exports.

  • Wingo and Flair Airlines add new international routes from Puerto Plata

    Wingo and Flair Airlines add new international routes from Puerto Plata

    The Dominican Republic’s Gregorio Luperón International Airport, located in Puerto Plata, is set to boost its global flight network with two new sets of direct international services launching in the 2026-2027 winter travel season, according to official confirmation from Aerodom, the airport’s managing operator that falls under the global Vinci Airports group.

    Colombian low-cost carrier Wingo will pioneer the first of the new connections, launching a weekly twice direct flight between Puerto Plata and Colombia’s capital Bogotá starting October 6, 2026. This scheduled service will run continuously through January 25, 2027, and is projected to offer a total of roughly 8,900 passenger seats throughout the winter season, matching the peak period of travel demand to the Caribbean region.

    A second new entrant to the airport’s route network is Canadian low-cost airline Flair Airlines, which will add Puerto Plata as a destination for the first time in its operating history. Flair’s first route, connecting Montreal and Puerto Plata, will commence operations on December 18, running twice per week. Just one day later, on December 19, the carrier will launch a second weekly twice service linking Toronto Pearson International Airport directly to Gregorio Luperón International Airport.

    Industry stakeholders project that these new route additions will deliver widespread benefits across the northern Dominican Republic. Beyond strengthening direct air links between Puerto Plata and two high-priority international travel markets, the new services will open up far more convenient travel options for local residents across Puerto Plata, the North region, Santiago and the broader Cibao valley. For the Dominican tourism sector, the links are also expected to drive a steady increase in the arrival of international visitors to Puerto Plata and other popular tourist destinations along the country’s scenic northern coastline.

    Aerodom publicly acknowledged the collective work of multiple cross-sector partners that made the new route expansion possible, naming the Dominican Civil Aviation Board (JAC), the country’s Ministry of Tourism, Wingo, Flair Airlines, Colombian tourism promotion authority ProColombia, and local Dominican tourism industry organizations for their collaborative partnership in advancing the new connections.

    This expansion of route connectivity forms part of Aerodom and Vinci Airports’ long-term, ongoing strategic initiative to grow the overall flight network of Gregorio Luperón International Airport. The overarching goal of the work is to deepen Puerto Plata’s tourism and commercial integration with key international markets, supporting sustained economic growth across the region.

  • Dominican and Chinese tobacco industries begin commercial dialogue in Tamboril

    Dominican and Chinese tobacco industries begin commercial dialogue in Tamboril

    In a major milestone for cross-border tobacco industry collaboration, the Dominican Republic’s tobacco sector kicked off a new partnership initiative this Tuesday, hosting a 20-plus member delegation of Chinese business leaders in Tamboril. The gathering, centered on opening formal commercial dialog between local leading tobacco producer Tabacalera El Artista and China Tobacco International (Hong Kong) Company Limited (CTI Hong Kong), was held at the Tamboril Municipal Library, drawing a wide range of attendees including industry representatives, senior local government officials, and leaders of agricultural development and financing institutions.

    Tabacalera El Artista President Radhamés Rodríguez framed the visiting delegation’s trip as the official starting point for bilateral discussions focused on unlocking mutually beneficial business and collaboration opportunities between the Dominican and Chinese tobacco sectors. During the event, Radhamés Rodríguez Jr., a member of the company’s leadership, walked attendees through the firm’s 65-year legacy of premium tobacco production, before detailing its strategic roadmap to upgrade production workflows through advanced technological integration and rigorous global quality standards.

    At the core of this new partnership is a formal memorandum of understanding that outlines a comprehensive framework for collaboration spanning multiple key areas: bilateral commercial and technical exchanges, raw material development, joint research and development, new product innovation, and coordinated international marketing expansion.

    Under the terms of the agreement, the partnership unlocks unique mutual advantages for both parties. CTI Hong Kong gains the right to produce cigars carrying the well-established El Artista brand for targeted international markets, while Tabacalera El Artista can leverage proven production models and operational frameworks from its Chinese partner to refine its own product lines.

    Rodríguez emphasized that this combination of complementary strengths creates a powerful foundation for joint growth. The Dominican Republic brings decades of world-renowned expertise in crafting premium cigars, while China contributes advanced industrial infrastructure, cutting-edge technological capabilities, and extensive global commercial networks. Together, the partners are positioned to expand their collective footprint and gain broader access to high-demand markets across the globe.

    The Chinese delegation was formally welcomed by a cross-section of senior Dominican officials, including Santiago Mayor Ulises Rodríguez, Tamboril Mayor Anyolino Germosén, Executive Director of the Dominican Tobacco Institute (INTABACO) Iván Hernández, and Agricultural Bank representative Gissel Quezada, alongside dozens of other industry and public sector stakeholders.

    With more than six and a half decades of experience shaping the Dominican premium tobacco industry, Tabacalera El Artista views this strategic partnership as a key lever to expand its global market presence, while forging deeper, more productive commercial and technical ties between the broader Dominican tobacco sector and the world’s largest consumer market, China.