The Dominican Republic has the potential to double its GDP in the next ten years. Rene Grullon, the chief executive of the country’s largest private financial group, Grupo Popular, recently went on record giving his recommendations of the structural changes and decisions that need to be taken. The doubling would position the Dominican Republic as a developed country in the Caribbean.
The goal of doubling the Dominican Republic’s real Gross Domestic Product (GDP) by 2036 is more than just an economic target; it is a “moral pact between generations,” according to Rene Grullon, CEO of Grupo Popular, the largest banking group in the country.
Addressing the American Chamber of Commerce of the Dominican Republic (AmChamDR), Grullon outlined a compelling vision for achieving sustained economic growth, improved quality of life, and a more equitable society. He called for a united effort between the public and private sectors, emphasizing that long-term development requires brave decisions, shared values, and institutional coordination over short-term political gains.
Grullon zeroed in on two critical, long-standing structural issues that must be resolved for the country to unlock its full potential:
• The electricity challenge: The executive stressed that the electric power system, particularly distribution, represents the most urgent structural challenge. He warned that continuing to postpone a definitive solution is a “risk that cannot be calculated for the Dominican Republic” and has direct implications for national competitiveness and stability.
• Improving quality in education: While acknowledging increased investment in education, Grullon insisted that the focus must shift to improving the quality of government educational spending. He reaffirmed that genuine education is the key to creating opportunities, driving social mobility, and building long-term national competitiveness.
Beyond solving the immediate crises, Grullon offered five foundational principles, presented from a citizen’s perspective, to guide the country toward its 2036 goal:
• Education at the core: A nation’s quality is measured by its capacity to form talent, generate real learning, facilitate social mobility, and create responsible citizens.
• Guard natural resources: Protecting water, forests, and coastlines —which he called irreplaceable patrimony— is not just an environmental concern but one that directly impacts the economy, businesses, and public welfare.
• Justice and clear rules: No economy can prosper without a reliable justice system, clear rules of engagement, and mutual respect among citizens.
• Innovation and entrepreneurship: Fostering a dynamic culture of innovation and entrepreneurship is essential for a forward-looking economy.
• Collective self-esteem: Believing in the country is the bedrock of development, providing the collective impetus necessary for society to move toward a better future.
Ultimately, Grullon emphasized that moving toward an inclusive and sustainable development model requires taking difficult decisions and prioritizing a vision that transcends immediate concerns.
“As a country, and I refer to both the public and private sectors, we have to be brave,” he asserted. He stressed that these actions require shared sacrifices, discipline, and a firm will to overcome current limitations. Crucially, such decisions must be born out of dialogue and consensus to ensure their impact is recognized and sustained by society for years to come.
For the Dominican Republic to perform its own symphony of development toward 2036 and even its bicentennial, talent and technique are not enough; a shared vision is needed, Grullon concluded.
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El Dia
13 October 2025