The present and future of Dominican business from the perspective of Manuel Estrella

Nov 2, 2023

During the AMCHAMDR business luncheon held in Santiago, Estrella stated that the common characteristics and values of all successful entrepreneurs are: intelligence, hard work, perseverance, risk-taking, and faith in the country.

IMG 20230925 WA0068Manuel Estrella, president of Grupo Estrella, addressed the current and future prospects for Dominican business, including the main challenges and opportunities for improvement in the country's commercial ecosystem, during his presentation entitled: "Necessary considerations for business management today and a vision for the evolution of the sector in the coming years."

During his participation as a guest speaker and guest of honor at the business luncheon organized by AMCHAMDR, held in Santiago, Estrella highlighted the common characteristics and qualities necessary for success in the local business world, noting that social commitment from the sector is essential to contributing to the growth of the country's commercial ecosystem. He also said that courage in the face of risk is perhaps the most valuable characteristic of a successful entrepreneur.

"What outstanding entrepreneurs do have are common characteristics that make it impossible to be successful in the business world without them: they're intelligent, tireless workers, persistent, meaning they get back up when they fall, they're not afraid to take risks, they believe in their country, and they also want to achieve something in life, they want to be great," explained the president of Grupo Estrella.

The executive also highlighted the virtues of the Dominican market, asserting that it has a regulatory framework adapted to local and international needs, notable for its diversity, openness to free trade, and technological advancements.

During his presentation, he said that companies must look out not only for their own well-being and that of their employees, but also for the development of the country and its people.

"There is no market where we can operate if there is no country, so the first duty of the entrepreneur is to preserve the country," the businessman said.

In her remarks introducing the guest of honor, María Waleska Álvarez, Vice President of the AMCHAMDR Board of Directors, explained that meetings like this one, where speakers like Estrella can offer their perspectives on the Dominican business ecosystem to the business elite and the country, are essential for the economic and social strengthening of the Dominican Republic.

“At AMCHAMDR, we firmly believe that democracy is built on the foundation of debate and the reconciliation of ideas. Being able to count on the approval and participation of national political forces and the private sector in forums for debate and messages to the nation constitutes a global example of how institutions are strengthened and consolidated,” Álvarez stated.

For his part, William Malamud, Executive Vice President of the American Chamber of Commerce of the Dominican Republic, asserted that it is essential that "we maintain a strategic mindset, focused on sustainability and generating a positive impact on our society, so that trade can continue to develop in the country."

“Today's business reality is constantly changing and transforming, with challenges that require adaptability, innovation, and a clear vision of the future,” said Malamud.

The meeting was attended by the Vice President of the Dominican Republic, Raquel Peña; Joel Santos, Minister of the Presidency; Daniel Rivera, Minister of Public Health; Víctor Bisonó, Minister of Industry, Commerce, and MSMEs; Eduardo Sanz Lovatón, Director of Customs; Alejandro Fernández, Superintendent of Banks; Wellington Arnaud, Director of INAPA; Abel Martínez, Mayor of Santiago; Eduardo Estrella, Senator for the Province of Santiago; and other ministers and directors of government institutions. The AMCHAMDR Board of Directors was also present.

This business luncheon was made possible thanks to the support of the member companies of the Chamber's Elite Circle: AES Dominicana, Barrick Pueblo Viejo, Cervecería Nacional Dominicana, Citi, HIT Puerto Río Haina, Grupo Humano, Inicia, Grupo Martí, Altice Dominicana, Grupo Rica, Grupo SID, Grupo Punta Cana, Grupo Estrella and Squire Patton Boggs.

We also thank Banco Popular, DP World, Banreservas, BHD, Banesco, Seguros Reservas, Claro, Altio, La Monumental, and Alaver.

About the American Chamber of Commerce of the Dominican Republic (AMCHAMDR)

The American Chamber of Commerce of the Dominican Republic (AMCHAMDR) is a non-profit association, legally incorporated on November 8, 1923, that fosters a healthy investment climate based on access to knowledge, opportunities, and a culture of best practices for the socioeconomic and professional development of its members. AMCHAMDR is affiliated with the US Chamber of Commerce and is a founding member of the Association of American Chambers of Commerce in Latin America (AACCLA).

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