Journalist reveals the 10 companies that control the country’s wealth

Journalist Esteban Rosario revealed the names of the ten companies that control the Dominican economy and the Gross Domestic Product (GDP) in his new book, Los Monopolios en la República Dominicana (Monopolies in the Dominican Republic), which was launched in the auditorium of the Sociedad Cultural Alianza Cibaeña, attended by journalists, communicators, writers, and intellectuals.

According to the communications professional, writer, and television producer, this group of companies controls 80% of the national wealth and contributes 62.3% of the state’s tax revenue.

Rosario said that Refinería Dominicana de Petróleo, S.A., Cervecería Nacional Dominicana, S.A., Banco Popular Dominicano, S.A., Banco de Reservas, Compañía Dominicana de Teléfonos, S.A., Coastal Petroleum Dominicana, S.A., Banco BHD, Total Energies Marketing Dominicana, Sol República Dominicana, SRL, and Brugal & Company, S.A control the domestic market.

During the event, Johnny Guerrero, president of the Alianza Cibaeña, offered welcoming remarks. At the same time, journalist Leoncio Peralta presented the work and its importance in raising national awareness about the concentration of wealth in the country.

Esteban Rosario said that economic concentration becomes more noticeable when analyzing the market shares of companies or business groups, depending on the sector.

He explained that the companies that contribute the most to state revenues have almost monopolistic positions in the domestic market. Based on data from the General Directorate of Internal Taxes (DGII), he said that industries and the financial sector have the highest concentration levels.

According to Rosario’s book, the market shares of the ten companies that control the national economy are as follows: Refinería Dominicana de Petróleo, S.A., with 64.2%; Cervecería Nacional Dominicana, S.A., with 98.5%; Banco Popular Dominicano, S.A., with 21.9%; Banco de Reservas, 32.8%; and Compañía Dominicana de Teléfonos, S.A., with 62.1%.

Meanwhile, Coastal Petroleum Dominicana, S.A. represents 20.3%, Banco BHD 15.7%, Total Energies Marketing Dominicana 62.3%, Sol República Dominicana, SRL, 62.3%, and Brugal & Company, S.A., 88.2%.

Rosario indicated that, according to the Superintendency of Banks of 2024, the financial sector’s assets amounted to 3.8 trillion pesos, representing 56.9% of the Gross Domestic Product.

However, the author adds that the Reserve, Popular, and BHD banks concentrated 69.9% of the assets. They also accumulated the largest percentage of the tourism sector’s credit portfolio, which reached US$1.9332 billion, equal to RD$117.715 billion, with a growth of 5% at the end of 2024.

Esteban Rosario explained that the Reserve Bank manages 40.2% of these resources, followed by Banco Popular with a 32.3% share and Banco BHD with 17.7%.

Rosario is 71 years old and has written several books, including “The Crimes of Balaguer and the Colorá Gang,” “The Oligarchy of Santiago,” “The Owners of the Country,” “The Vicini Group, the Real Power,” “The CIA in the Dominican Republic,” and “The New Power Groups.”