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The Dominican Republic aims to become a Destination for the Semiconductor Industry
July 12, 2024 | Globe NewswireEstimated reading time: 1 minute
Aiming to become the main logistics hub in the region, the Dominican Republic is seeking a new space in its strategic development with the semiconductors industry. This ambition is backed by half a century of continued robust economic growth, social stability, and a vibrant democratic system.
On June 13th, 2024, President Luis Abinader issued Executive Order 324-24 declaring the development of the semiconductor industry in the country as a "high national priority." The Ministry of Industry, Commerce, and MSMEs (MICM) is in charge of developing the National Strategy for the Promotion of the Semiconductor Industry (ENFIS), aiming to position the Dominican Republic as a strategic, competitive, reliable, and secure destination for the global semiconductor industry.
MICM, in partnership with the American Chamber of Commerce of the Dominican Republic (AMCHAMDR), will showcase the country at Semicon West, an event that brings together experts and industry leaders in semiconductors in San Francisco, California, from July 9 to 11.
Semicon West will include presentations regarding the investment climate in the Dominican Republic, the great success it has had in manufacturing operations thanks to its export-oriented no-tax Free Zone regime, and the country’s potential to achieve new milestones in emerging high-tech fields.
Geographical and political proximity to the United States, a favorable policy framework, a cost-competitive environment, modern infrastructure, as well as excellent logistical services, are some of the advantages that make the country an attractive market for investment. The Dominican Republic has become a reliable partner for the medical and electronic devices industries and is poised to position itself as a manufacturing and logistics hub for the semiconductor industry.
The Information Technology and Innovation Foundation (ITIF), in Washington, DC, published a study on January 2024 titled “Assessing the Dominican Republic’s Readiness to Play a More Significant Role in the Global Value Chains of Semiconductors and Printed Circuit Boards.” And in May 2024, MICM established a strategic partnership with Purdue University through a Memorandum of Understanding for the development of the Dominican workforce in microelectronics and semiconductors.
For more information about the Dominican Republic's participation in Semicon West, visit us at Booth No. 6813.
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