The role of state-owned enterprises (SOEs) in the Dominican Republic has significantly diminished since 1997, with private firms assuming most responsibilities. Key sectors still featuring SOEs include electricity, banking, mining, and refining. Labor statistics indicate that public employees, which encompass government and defense personnel, account for 12 percent of the formally employed population, making the government the largest employer. A list of SOEs is made available by the Ministry of Finance and Economy.
Shortly after his inauguration in 2020, President Luis Abinader established the Commission for the Liquidation of State Organs (CLOE) through Decree No. 422-20. The CLOE, operating under the Ministry of the Presidency, has overseen the dissolution of multiple SOEs, including the Corporación de Empresas Estatales (CORDE), Comisión de Reforma de la Empresa Pública (CREP), and Fondo Patrimonial de las Empresas Reformadas (FONPER).
Among the remaining state enterprises, the State Sugar Council operates one sugar mill, Porvenir, and received $26.5 million in government funding for 2025. However, it has not published financial statements for that year, citing ongoing dissolution procedures.
In 2023, the government faced various obstacles but subsequently passed Law No. 20-23. This law aims to regulate public trusts by establishing guidelines for their organization, structure, and operation, while also enabling authorized public entities to serve as settlor, trustee, or beneficiary.
The government maintains ownership of the electricity transmission company ETED, three electricity distribution firms, and the Unified Board of Directors for the Distribution Companies (CUED). The electricity distribution companies remain some of the largest SOEs in terms of government expenditures, with an allocation of $1.7 billion for subsidies in 2025.
Additionally, the government participates in electricity generation, particularly through hydroelectric and coal-fired power. In line with Law No. 365-22, President Abinader issued Decree No. 142-23, establishing the Punta Catalina Electric Generation Company (EGEPC) to improve oversight of the coal-fired power plant.
Meanwhile, BanReservas, a state-owned but autonomously operated bank, stands as the largest in the country, enjoying success partly due to a requirement for government employees to open accounts there for salary payments. About one-third of BanReservas’ lending portfolio is allocated to government institutions.
Following the 2021 acquisition of Petroleos de Venezuela, S.A. (PDVSA), the Dominican government assumed sole ownership of the Refinería Dominicana de Petróleo (REFIDOMSA), the nation’s only oil refinery. REFIDOMSA, which handles crude oil imports and commands over 60 percent of the market share in petroleum products, saw the government spend over $229 million in 2025 to subsidize local fuel prices, which are regulated by the Ministry of Industry, Commerce, and SMEs.
In 2024, the government established the Dominican Mining Company, S.A. (EMIDOM) via decree No. 453-24, tasked with managing strategic mineral resources and conducting viability studies related to mining reserves. Dominican SOEs do not have international operations nor investments in the United States.
Past efforts to partially privatize SOEs in the late 1990s and early 2000s allowed foreign investors to gain management control of former SOEs in sectors like electricity generation, airport management, and sugarcane processing. However, reforms in the electricity sector were reversed between 2003 and 2009, though privatization continues in other areas.
