More Companies in Free Trade Zones

The sector guild in the Dominican Republic approved the installation permits for 11 new companies, and it is expected that the companies will invest around $20 million.

Wednesday, January 9, 2019

From the CNZFE press release:

Santo Domingo - The National Council of Free Trade Zones (CNZFE) announced yesterday the approval of permits for the installation of a park and 11 new companies in free trade zones, which will generate 976 direct jobs.

During the ordinary session of the Council, the Minister of Industry, Commerce and MSMEs, Architect Nelson Toca Simó, who was in charge of it, informed that these new companies have estimated an investment of more than RD$924 million, for their development and operation of productive activities, will generate foreign currency for about US$10.5 million.

According to the director of CNZFE, Luisa Fernandez, among the productive activities to be carried out by the new companies are: textile manufacturing, processing of cigars and their derivatives, assembly of equipment, manufacture of baby food, administration, design and development of all types of digital platforms and advertising on websites, and call center.

These new approved companies will be in the cities of Santo Domingo, San Pedro de Macorís, Puerto Plata and La Romana; localities in the country where they will have a social and economic impact.

The approval of the park and the 11 free zone companies was conceived in the ordinary session of the Board of Directors held on Tuesday 18 of this year, in which representatives of the public and private sectors took part.

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