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Dominican Republic: Solid Growth, Strong Potential

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The Dominican economy, the fastest-growing in Latin America, is expected to benefit strongly from CAFTA.

BY CHRONICLE STAFF

From tourism and real estate to textile manufacturing and mining, foreign investors are bullish on the outlook for the Dominican Republic. The Caribbean country, which implemented a free trade agreement with the United States in March, is expected to see more trade with, and investment from, the United States as a result of the agreement as well as continued strong growth in the local economy and investor-friendly policies from the government.

"Exceptional economic growth with single digit inflation forecasted to continue through 2007, combined with a stable exchange rate, has laid the basis for welcoming new investors," says Kevin Manning, an advisor to U.S.-based energy company AES and a former president of the American Chamber of Commerce.

Last year, the Dominican economy grew by 10.7 percent, more than any other country in Latin America. It was also the best performance in more than 25 years. 

In fact, the Dominican economy is among the leading turnaround stories in...

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