Panama and the Dominican Republic: Fostering a New Chapter of Regional Development
Panama’s Minister of Commerce and Industries (MICI), Julio Moltó, provided Dominican business leaders with an overview of the myriad opportunities Panama can offer as a regional platform for investment and trade. In a forum held during his official visit to the Dominican Republic, Moltó shared the advantages and new incentives of Panama as a platform for the creation of new business opportunities and productive chains. The event was attended by the Dominican Republic’s Minister of Industry, Commerce, and MSMEs, Víctor “Ito” Bisonó, and culminated with the signing of a Joint Declaration between both ministers. The MICI states that both countries have deepened their commitment to advancing mechanisms to combat illicit trade, with a view toward improving transparency and business intelligence and opening new opportunities for bilateral cooperation.
Panama: A Strategic Hub for Latin America
The Panamanian minister presented in a business forum held in Santo Domingo, Panama’s main attributes as a platform for business creation, as well as the promotion of bilateral ties. For Moltó, the country’s macroeconomic stability, strategic geographic position, and role as a gateway for the Americas are characteristics that reinforce Panama’s position as a reliable logistical and financial hub for foreign investment. “Panama and the Dominican Republic have two economies that do not compete but complement each other. This is a very favorable condition that allows us to expand shared value chains”, he added. In this way, Moltó and Bisonó discussed the great potential that Panama has to join productive forces and businesses in both countries in a process of closer integration to open new spaces in the hemisphere.
The MICI indicates that, during his participation, the Panamanian minister also offered updated information on the behavior of Dominican investment in Panama, highlighting the main sectors in which the Caribbean nation has significant participation: banking, energy, pharmaceuticals, and beverages. In all of them, Dominican companies have found an environment in Panama to continue expanding and strengthening their operations, opening new opportunities. In this regard, he also pointed out that bilateral trade exceeded 100 million dollars in 2024 with a constant surplus in Panama’s favor, a trend that both countries seek to continue strengthening, especially through the Colón Free Zone. From this strategic hub, Dominican companies, along with their Panamanian counterparts, have broadened the re-export flow as evidence that Panama’s logistics model is one of the main competitive engines of the region.
Advantages and Opportunities in the Framework of Panama as a Platform for Business Creation
In his presentation, Minister Moltó showed an institutional video that highlighted the main advances made by Panama in recent years, in terms of modernization, connectivity, and its leading infrastructure. He especially highlighted Panama’s special regimes, SEM and EMMA, and its free trade zones that serve as an attractive legal and fiscal framework for international companies. For Panama and the Dominican Republic, these tools represent concrete opportunities to work on the development of joint projects that include light manufacturing, business services, advanced logistics, as well as the relocation of regional operations. The Panamanian minister said that his country continues to position itself as a natural ally for the Caribbean, betting on attracting productive investments and generating new shared value chains that allow Dominican companies to find their natural growth partner in the region.
“The Panamanian platform for business creation is consolidating itself as a Caribbean ally for the attraction of productive investments and the generation of new shared value chains. We want more Dominican companies to see in Panama their natural partner for their growth in the region”, Moltó expressed, reaffirming that the joint vision between both countries can make it possible to generate a competitive and modern business environment, oriented toward deepening commercial integration.
Dominican Republic: A Transparent Economy with Guaranteed Investment Security
In the words of Minister Víctor “Ito” Bisonó, the Dominican Republic has strengthened its control systems to fight illicit activities. This goal has helped it build international confidence and secure the support of strategic partners such as the United States. “We have improved our traceability, modernized our customs and increased commercial vigilance, which are significant achievements that have allowed us to fight smuggling, avoid tax evasion and above all guarantee a more transparent environment for productive activity”, he said. The Dominican minister explained that these are joint objectives between Panama and the Dominican Republic, and the results obtained are aligned with the commitments of both governments to increase cooperation in economic security issues and to guarantee the integrity of their respective markets.
Permanent Mechanism of Economic and Business Dialogue
The meeting between Moltó and Bisonó also allowed to explore new tools to deepen technological and operational cooperation in the detection of illicit activities, in addition to the possibility of establishing a permanent mechanism of business dialogue between Panama and the Dominican Republic that would allow mutual investment and transfer of knowledge and would identify new opportunities in sectors such as agribusiness, renewable energy, digital services, logistics and advanced manufacturing.
Joint Vision for a Modern, Competitive Economy
The official visit reaffirms the interest of both Panama and the Dominican Republic in building a cooperative framework for economic relations that can promote common development and consolidate and strengthen their productive chains. Panama and the Dominican Republic see that, in a world marked by very rapid changes in trade, technology, and economic security, strategic regional alliances such as the one they are building are essential for sustaining long-term growth. The joint work and vision shared by Panama and the Dominican Republic on issues related to trade, innovation, transparency, security, and the creation of a new, modern business environment opens a horizon of greater economic integration for both countries.
A Strengthened Partnership with a Vision for Regional Leadership
In conclusion, the visit of Minister Moltó and the signing of the Joint Declaration of Understanding between Panama and the Dominican Republic consolidate both countries as key regional partners and set an agenda of cooperation that prioritizes transparency, mutual understanding, and benefits, and the construction of a more competitive and resilient space. Panama and the Dominican Republic, as regional leaders in the integration of the Caribbean and Central America, are key points to position both countries as forerunners in the construction of a new era of shared prosperity.