The Dominican Republic is a party to two international conventions governing the recognition and enforcement of arbitral awards: the New York Convention and the Panama Convention. Under the conventions, foreign arbitral awards will be executed in the Dominican Republic under existing procedural rules and can be refused recognition only in limited specified circumstances.
The Commercial Arbitration Law, which was enacted to modernise domestic arbitration law, implements a single-tier arbitration system, making the law applicable to both domestic and international arbitrations conducted within the Dominican Republic. The law states that all disputes can be submitted to arbitration in accordance with civil and commercial law.
Foreign investment in the Dominican Republic is continuing to expand and the number of corporate transactions, including mergers and acquisitions, is steadily increasing. There are three key reasons for the growth of mergers and acquisitions and other corporate transactions in the Dominican Republic: recent reforms to the Dominican legal system, the country's strong infrastructure and its geographical location.
An increasing number of films are being made in the Dominican Republic. The lower costs and other economic advantages of operating in the country all contribute to the substantial growth of the film industry. These advantages, combined with the financial incentives set out in the recently adopted Film Industry Law, are making the Dominican Republic an important destination for producers to consider.
The Dominican Republic recently enacted a law that is helping the country's mortgage market to develop while providing significant opportunities for investors, as well as a boost for the country's efforts to expand its housing stock. The new law creates a market for securitised mortgages that will enhance the country's housing and construction industries, while offering institutional investors an important investment opportunity.