The IMF pegs the country as Latin America's second fastest-growing in 2023, with the World Bank projecting a 4.8% GDP rise – a prime opportunity for investors.
The current climate is ripe for investment in the Dominican Republic. With its display of economic resilience and burgeoning prospects, the nation has garnered significant attention, especially from the United States—a country that shares a deep bilateral bond with this Caribbean gem. In 2022 alone, the inflow of foreign direct investments reached a staggering US$4 billion. “The United States is undeniably our principal ally,” remarked Ambassador Sonia Guzmán, a key figure behind the 2005 Free Trade Agreement between the Dominican Republic, the US, and Central America (CAFTA).
“This country has a lot of potential,
not just in tourism.”
Gonzalo Gil CEO, Scotiabank República DominicanaTweet This
resident Luis Abinader, who assumed leadership in 2020, is key to the country’s recent success, adeptly navigated the nation through the pandemic's challenges with a well-crafted recovery blueprint. Beyond that, he articulated a visionary roadmap for the country's future—a blueprint that is pro-business, champions investments, and heralds transparency, with a special emphasis on fortifying ties with the US. “We must accentuate our relationship with the United States, aspiring for a unique bond,” he voiced.
The country’s Central Bank was also instrumental in orchestrating a formidable post-pandemic comeback. “In 2021, the Dominican Republic witnessed an unparalleled 12.3% growth, leading Latin America,” declared Héctor Valdez Albizu, the bank's Governor. Committed to its constitutional autonomy, the bank ensured that its monetary policies remained impartial, devoid of political influence. “Such autonomy not only safeguards our fiscal and monetary policies but also strengthens our affiliations with renowned global institutions such as the Monetary Fund, World Bank, and the Inter-American Development Bank,” said Governor Albizu.
“In 2021, the Dominican Republic experienced exceptional growth of 12.3%.”
Héctor Valdez Albizu Governor, Central Bank of the Dominican RepublicTweet This