According to a report by BNAmericas, Dominican President Luis Abinader stated that the government is exploring the possibility of developing the mining sector, particularly by leveraging government support to tap into rare earth minerals.
　　Speaking at the Latin American Infrastructure Investment Conference hosted by the Latin American Development Bank (CAF) in New York, the president stated, “This country has gold, silver, and nickel, and where bauxite is found, rare-earth minerals are often present as well.”
　　Local media quoted him as saying that the Dominican government hopes to explore rare earth minerals with the support of the U.S. Army Corps of Engineers (USACE).
　　“We also place great importance on the international standards for the mining industry established by the Extractive Industries Transparency Initiative (EITI), which was adopted in 2016.”
　　Abinader also highlighted the Dominican Republic's economic achievements over the past few decades, noting an average annual growth rate of 5% and a GDP reaching 130 billion U.S. dollars, making it the seventh-largest economy in Latin America and the Caribbean.
　　The president added that a stable macroeconomic environment has created a favorable business climate for investors, attracting substantial inflows of foreign direct investment (FDI)—which in recent years have accounted for about 4% of GDP, making the country one of the region’s top recipients of foreign investment.