WAIPA Regional Meeting in Santo Domingo: A week of Collaborative Efforts and Strategic Discussions

The WAIPA Regional Meeting for Central America and the Caribbean, held on 17-18 July in Santo Domingo, Dominican Republic brought together key stakeholders to discuss and promote investment opportunities in the region. This event, hosted by ProDominicana in collaboration with WAIPA and the Central American Bank for Economic Integration (BCIE), was a testament to the power of regional cooperation in shaping a collaborative and impactful agenda for global investment promotion.

Strengthening Foundations

The meeting began with a warm welcome extended to WAIPA Executive Director and CEO Mr. Ismail Ersahin by Mrs. Angelina Biviana Riveiro Disla, Executive Director of ProDominicana, and her team. This initial interaction set a strong foundation for the event, aimed at driving growth and development in Central America and the Caribbean.

Inaugural Session

The event’s inaugural session featured prominent speakers, including:

H.E. Mrs. Raquel Peña, Vice-President of the Dominican Republic
Mrs. Angelina Biviana Riveiro Disla, ProDominicana’s Executive Director
Mr. Hostos Rizik Lugo, Executive Director for the Dominican Republic Central American Bank for Economic Integration (BCIE)

Mr. Ismail Ersahin in his speech underscored the importance of regional collaboration, particularly in promoting sustainable Foreign Direct Investment (FDI). He stated, “IPAs are crucial for fostering global investment and economic growth. It is imperative that we, as international organizations, support them through strong collaboration to ensure a total win-win for investors, countries, and our people. By working together, we can create a more prosperous future for all.”

Engaging Panels and Workshops

The conference featured engaging panels that covered various topics, including facilitation and governance for attracting foreign investment in the region, international business perspectives in disruptive times, and business opportunities with institutional support from BCIE. Notable presentations were given by prominent IPAs from the region, such as Invest Guyana and Promotora del Comercio Exterior de Costa Rica (PROCOMER), alongside the IGO panelists:

Mr. Escipion Joaquin Oliveira Gomez, Director, Division of Enterprise Competitiviness and Institutions-International Trade Centre (ITC)
Mr. Antonio López de Ávila Muñoz – Director of Innovation, Education and Investment, UN Tourism
Mrs. Jacqueline Mora-Baez – Technical Vice-Minister of Ministry of Tourism of Dominican Republic
Mr. Juan Manuel Martin de Oliva – Vice President of Tourism Business at Banco Popular Dominicano

The first day concluded with the highly practical UN Tourism Workshop on developing an investment promotion strategy in the tourism sector. This session provided valuable insights and strategies for advancing tourism investment, highlighting WAIPA’s significant efforts in this sector.

Recognition of Foreign Direct Investment

A highlight of the event was the third edition of the Recognition of Foreign Direct Investment Awards, hosted by ProDominicana. Esteemed speakers included President of the Dominican Republic Luis Abinader, Minister of Industry, Commerce, and SMEs Mr. Victor Bisonó, Mrs. Angelina Biviana Riveiro Disla, Executive Director of ProDominicana and Mr. Ismail Ersahin, Executive Director and CEO of WAIPA.

President Luis Abinader emphasized the remarkable growth of FDI in the Dominican Republic and the government’s commitment to creating a favorable investment environment. Mrs. Riveiro Disla addressed the challenges faced by IPAs in promoting sustainable investments, stressing the need for strong collaboration and innovative approaches.

Mr. Ersahin highlighted WAIPA’s efforts to assist IPAs through the Business Advisory Board and the Subcommittee of Regional IPA Associations (SCRIPA), fostering collaboration and sustainable investment. He praised the WAIPA Regional Event in Santo Domingo as a prime example of how regional cooperation can drive global competitiveness and reaffirmed WAIPA’s dedication to a prosperous, sustainable future for the Dominican Republic and beyond.

Awards were presented to outstanding companies in three categories:

Sustainable Investment: Ly Company Caribe – Aqualy
Free Trade Zone: Medtronic
Agroindustry: Tabacalera de García

Commitment to Regional Cooperation

The WAIPA Regional Meeting also brought together WAIPA members from Central America and the Caribbean and members of the WAIPA Consultative Committee, including UN Trade and Development (UNCTAD), International Trade Centre, UNIDO, and UN Tourism. IPAs from the region, such as PROCOMER, Curinde, Invest Saint Lucia, Bermuda Business Development Agency (BDA), Invest Guatemala, Invest Turks and Caicos, and Invest Barbados, actively engaged in discussions to enhance cooperation.

Engaging with Businesses

WAIPA consistently engages with businesses to unveil how IPAs can help companies navigate complex regulations and achieve remarkable growth. Mr. Ersahin, alongside ProDominicana Investment Director Marcial Smester and Investment Executive Eduardo Castillo-Ho, interacted with several dynamic businesses supported by ProDominicana.

Arajet CEO, Victor Pacheco, shared the transformative journey of establishing the Caribbean’s “first ultra-low-cost airline” with ProDominicana’s invaluable assistance. This pioneering investment led to comprehensive aviation legislation, igniting sector growth through IPA advocacy.

AERODOM’s CEO, Mónika Infante Henríquez, highlighted how ProDominicana’s facilitation of direct connections with public sector officials was crucial in keeping AERODOM’s airports operational during the Covid-19 pandemic.

Bepensa Dominicana’s Director of Corporate Public Affairs, Juan Roberto Amell, emphasized ProDominicana’s proactive partnership, which has been key to Bepensa’s continued expansion and its ties with the public sector. Bepensa’s contributions were celebrated at ProDominicana’s Foreign Direct Investment 2024 Awards Ceremony.

WAIPA extends its sincere thanks to its Steering Committee member ProDominicana , led by ProDominicana Executive Director Mrs. Biviana Riveiro for organizing this important gathering and we remain committed to supporting and enhancing the collaboration of IPAs for a more prosperous and sustainable future for all. WAIPA will continue to work with IPAs in Central America and the Carribean to ensure that the ideas and work discussed during the Regional Meeting are further developed on and continue to foster regional collaboration.