The Dominican Republic’s economic climate is stable and growth oriented, making it an ideal location for corporate investors who want to reduce their operating costs while mitigating risk. Over the years, the DR has worked diligently to cultivate a welcoming and supportive business environment and has achieved great success as evidenced by their strong performance in key economic rankings. Looking forward, the country continues to strive towards macroeconomic excellence with strong governmental support and free zone regime.
According to the World Economic Forum’s Global Competitiveness Report, the Dominican Republic ranks extremely well in the Caribbean Region for economic health indicators.
The DR ranks #1 as the largest GDP in all of Central America and the Caribbean.
The DR ranks #2 in the Caribbean for overall Macroeconomic Stability.
The DR ranks #2 in the Caribbean for strength of their Institutions.
The Dominican Republic has been under a democratic rule for the past 50 years and continues evolving into a more open and transparent institution. Within the past ten years, the government has taken great strides towards establishing stability though steps such as undergoing constitutional reform, joining the Open Government Partnership and Anti-Corruption Initiative, and launching National Vision 2030.
The Free Zones are a huge contributor to the economic success and stability of the Dominican Republic, responsible for 9% of FDI and 171,286 direct jobs. The zones offer businesses an attractive setup package, namely through taxation incentives, soft incentives, and connectivity.