The Dominican Republic can double its economic growth in a short period of time. To do so, it must activate the National Development Strategy plan, says Pedro Brache, a long-time president of the National Business Council (Conep).
In an interview with El Nuevo Diario, Brache said the timing is right for the country to take the 30-year strategy and bolster education and energy to improve along those lines significantly.
“I think that the Dominican Republic has the opportunity to double its economy in a short time and for that, what is required we must reactivate the National Development Strategy plan,” he said.
Brache said to double the economy’s growth capacity, the country needs to double energy generation, doubling the capacity of production, ports, airports, infrastructures and educational capacity. “It sounds nice, but it costs,” he said.
The also president of Grupo Rica added the Dominican Republic has proven it has an efficient and resilient economy, with the ability to reinvent itself and get going, even when other nations sit idle.
Referring to the information that social assistance and the subsidy helped to control inflation due to the situation, Pedro Brache corroborated the data. He recalled that the inflationary phenomenon is global in nature.
He recognized that even though the country, like the rest of the world, is going through difficult times, the Dominican Republic has handled it “quite well.”
Brache welcomed the efforts to turn the Dominican Republic into the logistics hub of the Caribbean.
“Those are things to talk about and have to be discussed, but I believe that progress should not be stopped, I believe that we must defend those items that are important for the Dominican Republic, but at the same time open up to the world,” he said.
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El Nuevo Diario
10 August 2023