London Stock Exchange Expresses Interest in the DR Becoming their Business Hub for the Caribbean and Central America

London Stock Exchange Expresses Interest in the DR Becoming their Business Hub for the Caribbean and Central America
Santo Domingo, Jun 11 2015

With the participation of high-level delegations of the Santo Domingo Stock Exchange (BVRD), of the Dominican Republic’s Securities Administration, and executives of the London Stock Exchange, the London Stock Exchange opened in the financial business center of “La City”.

Antonella Amadei, New Markets Development Manager at the London Stock Exchange, expressed the interest of the London Stock Exchange (LSE) for the Dominican Republic to become the center of operations (Hub) for the Caribbean and Central America of the London Stock Exchange. This would allow companies in the region to raise funds in the UK, and through this country, from the rest of Europe.

To mark the start of the trading session with the sound of the bell, the Ambassador of the Dominican Republic to the United Kingdom and Northern Ireland, Dr. Federico Cuello Camilo, acknowledged what opening the LSE for the fourth time, and for the first time with representatives of the Dominican Republic stock market being present, means to the Dominica Republic. He said that, “As the representative in London of President Danilo Medina’s administration, connecting the British stock exchange with the Dominican stock exchange could raise the quality of our development model. First, it would bring fresh resources to our country. Second, it would lower the cost of capital, in particular for the SMEs. Third, it would consolidate the potential we have to become the logistics hub for the Americas. And fourth, for the high-level jobs that it would generate in the financial sector. The end result of this would be a Dominican Republic more connected with the world, with a more cohesive production system, with a more competitive economy in which to create, innovate and live with confidence in the future,” outlining the broad benefits of this openness, which puts the Caribbean country in the spotlight of international investors.

The Dominican delegation, headed by the Executive Vice President of the Dominican Republic Stock Exchange (BVRD), Felipe Amador, was made of: the Superintendent of Securities of the Dominican Republic, Juan Ernesto Jiménez; Guillermo Álvarez García-Godoy, Vice President of the British Chamber of Commerce of the Dominican Republic (BRITCHAM); Francesca Ortiz Rodríguez, Executive Director of the British Chamber of Commerce of the Dominican Republic (BRITCHAM);of Diego Torres, General Manager of BHD León – Puesto de Bolsa; Juan G. Guzmán, Director of Treasury Investment and Reserves – Puesto de Bolsa; Guillermo Arancibia, CEO Country Manager at JMMB – Puesto de Bolsa; and, Dr. Eduardo Jorge Prats, Senior Partner at Prats & Associates.

The Dominican Republic’s participation in the opening of the London Stock Exchange, one of the largest in the world, is part of a series of events organized by the Dominican Embassy in London in the framework of the fourth edition of the Dominican Week in the United Kingdom.

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