Narayan AmmachchiLuis Henry Molina, former vice minister to the Presidency, has been named Executive Director of the Dominican Republic Export & Investment Center (CEI-RD for its initials in Spanish).
Assuming his new position in a ceremony led by Themistocles Montas, the current Industry and Commerce Minister, Molina said he would continue the ideals of President Danilo Medina.
Luis took over from Jean Rodriguez, who has been credited with boosting the country’s export sector.
Under Rodriguez, CEI-RD managed to bring in more than US$9 billion in foreign investment, increasing the country’s export by a record 14%. “Our export sector grew even though the global markets were still suffering from a verity of ills,” Rodriguez said.
Rising foreign investment, particularly in the export segment, has created as many as 108,000 jobs in the past four years. Rodriguez also played a key role in boosting his country’s trade relations with Haiti, which, he argued, is the second biggest trade partner for the Dominican Republic.
Throughout his tenure, Rodriguez kept on persuading his country to support Haiti to recover from its economic downturn.
In an interview with Nearshore Americas three years ago, Rodriguez said his country was working to increase the trade volume with Haiti to more than US$1 billion. A cordial economic relation with Haiti, Rodriguez thought, would help DR-based outsourcing firms provide back-office service in both Spanish and French.
“If the foreign companies set up their base in our countries, they can offer services in three languages including French, Spanish, and English,” he said.
Last year, the Caribbean country reported 7% growth in GDP, highest rate of growth in all of Latin America.
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