President Luis Abinader announced on Thursday an ambitious vision to transform the Dominican Republic into a fully developed nation by 2036, aiming to double its real gross domestic product (GDP). This vision includes an average annual economic growth of 6%, creating 1.7 million new jobs, tripling the average salary, achieving investment grade, and becoming the most prosperous economy in Latin America.
Highlighting the growth of foreign direct investment (FDI), President Abinader projected that the Dominican Republic will reach $ 4,500 million in FDI by the end of this year, a milestone he described as “unprecedented in the economic history of the country.”
He also cited the World Bank’s economic growth projections for the Dominican Republic, predicting a 5% growth rate for 2024 and 2025. This rate is consistent with the average growth over the past 50 years and is the highest in Latin America. President Abinader emphasized that the Dominican Republic’s growth rates are double the global and regional averages, driven by structural reforms aimed at attracting and expanding FDI.
The President reiterated that the country’s recent economic stability has been crucial in creating a favorable business environment. “In the last four years, we have strengthened our foundation of resilience and social dynamism, demonstrating that we are a nation capable of prospering even amid global uncertainty,” he stated.
