Dominican Republic

In Partnership With

Over the past few decades, the Dominican Republic has emerged as one of Latin America’s economic success stories, with growth outpacing many of its regional counterparts. A stable democracy and popular tourist destination, this Caribbean nation boasts a well-developed infrastructure network that facilitates trade and commerce. Additionally, this nation of nearly 11 million people benefits from the CAFTA-DR free trade agreement with the US and an economic partnership with the EU. In 2024 the country’s growth was second only to Guyana, and the World Bank estimates that this situation will continue this year as well.

Thanks to a series of investor-friendly policies, including generous tax exemptions and other financial incentives, the Dominican Republic has also become a significant recipient of foreign direct investment (FDI) beyond the traditional tourism sector, particularly in telecommunications, real estate, mining and finance. Last year FDI hit a record of 4.5 billion USD and 33.7% of the investments came from Europe. However, challenges remain, including a lack of transparency in governance and insufficient implementation of existing laws, as well as vulnerability to climate events.

Héctor Manuel Valdez Albizu has led Dominican Republic’s central bank since August 1994, with a brief interruption between 2000 and 2004.

Banreservas is a state-owned bank that, for more than 83 years, has become a key driver of the Dominican economy, demonstrating its firm and ongoing commitment to the sustainable development of the main productive sectors of the Dominican Republic. It is the largest bank in the country and one of the top 10 in terms of assets in the Caribbean and Central America. With representative offices in Spain, New York, and Miami, it has the largest service network in the country, with more than 330 branches, 1,500 ATMs, and over 3 million customers across the entire territory.