First Haiti Dominican Republic Bilateral Investment

On Tuesday, December 15, 2015, in the presence of the Dominican entrepreneur Juan Vicini Lluberes and the members of the Quisqueya Binational Economic Council (CEBQ), Marc Antoine Acra and Jean Lucien Ligonde, the first pilot project of CEBQ in Zone 1 has been launched. The project has been funded with an initial investment of $31 million to build 600 housing units for the textile plant workers and 400 housing units for the workers of the finished product plant. This economic development program near the frontier of Haiti with the Dominican Republic was initiated in 2013 in Miami by the presidents of the two countries, Michel Martelly and Danilo Medina. The objective of this joint effort was the creation of 100,000 direct jobs in the textile sector by 2030.

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CEBQ is a binational cooperative border development organization formed by the Haitian and Dominican representatives which involves some number of employers from the Dominican Republic and Haiti which aims to develop projects in various parts of the border between the two countries. It further aims to use their business ideas and resources on renewable energy, transportation logistics, raw materials and utilization of work forces in the countries.

The Zone 1 and other upcoming projects under the plan would be as follows. Zone 1: International free economic trade zone, concentrating mainly on two cities, Dajabón and Ounamithe and Manzanillo port as exchange platform; Zone 2: For production and agro-industry and its transit routes; Zone 3: Responsible for renewable energy storage and pumping using lakes of the Caribbean, Enriquillo and Azuei; and Zone 4: Platform devoted to international festivals and developing the tourism potential.

Total estimated cost of development of these four zones over a period of 15 years has been calculated as $5 billion. The majority of the investment will be funded by the private entrepreneurs and benefit around 4 million people living on the both sides of the border.

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Read more: dominican, Investment, business, Dominican Border, Business & Finance

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