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Professional Services with Export Potential in the Dominican Republic
By Guzmán Ariza, Attorneys at Law
The global market for professional services is undergoing significant growth and transformation, adapting to the new reality shaped by the COVID-19 pandemic. A December 2023 report by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has explored how the Dominican Republic's offerings in professional services could tap into this dynamic international demand.
According to the report, while the Dominican Republic lacks specific support instruments for professional services, ongoing initiatives from various policy areas converge to drive an emerging service sector. The ECLAC emphasizes that intentional and strategic coordination is needed to prioritize services with higher differentiating value from Dominican providers.
The report also highlights the need for Dominican professional service providers to perceive themselves as exporters of services. "Building an export culture involves incorporating a more international perspective into professional practice, promoting the diversification of postgraduate academic offerings related to international trade, disseminating information on provisions in trade agreements, and establishing support mechanisms for market exploration through international bidding and competitions," it states.
Professional services refer to a broad category of specialized, knowledge-based activities provided by individuals or firms with expertise in a specific field. These services are typically delivered by professionals who have advanced education, training, and experience in their respective areas. Some common examples of valued professional services from the Dominican Republic include: Legal Services, Accounting and Financial Services, Information Technology (IT), Engineering Services and Architectural Services.
Knowledge emerges as the most critical factor in delivering such professional services. The ELAC report calls for a diversification and sophistication of the academic offerings at both undergraduate and postgraduate levels in the Dominican Republic. Key policies could include strengthening accreditation and regulation mechanisms for professional practices, fostering professional ties with other countries, identifying export markets and opportunities for service placement, and leveraging information and communication technologies for international business and service delivery.
Guzmán Ariza, Attorneys at Law
Guzmán Ariza is a leading full-service law firm in the Dominican Republic, consistently ranked among the country’s top-tier firms by the most prominent global legal directories such as Chambers and Partners and The Legal 500.
With ten strategically located offices across the nation's principal business and tourism hubs, we are uniquely positioned to support clients in seizing opportunities within the largest and fastest-growing economy in Central America and the Caribbean.
Our multilingual team is well-versed in advising international clients across a broad spectrum of practice areas. In the field of intellectual property, we offer robust counsel and representation in both commercial transactions and litigation. Our services cover trademark and trade name protection, copyright and patent registration and enforcement, as well as licensing, assignments, and the transfer of IP rights.
Guzmán Ariza is globally connected through active memberships in prominent international legal networks, enabling us to effectively support cross-border matters and multinational transactions.