Dominican Republic
15 new free zones are approved with an investment of RD$3,614.3 mm
6 / March / 2017

The Minister of Industry and Commerce and President of the National Free Zones Council, Temístocles Montás, announced yesterday the approval of the permits for the installation of fiteen new free zone companies, with and estimated investment of RD$3,614.3 million, and the creation of 1,545 new direct jobs.

During the monthly meeting of the Council, which was held at Santiago Free Zone Corporation, Minister Montás highligthed that for the development and operation of its activities, these new companies will generate foreign exchange in the order of US$20.4 million.

According to a press note sent by the Communications Department of the Ministry of Industry and Commerce, during the meeting a contract was signed between the Dominican Goverment and Eco Green Free Zone Park SRL, for the development and operation of the Luperon Verde Industrial Free Zone, project located in Luperón, Puerto Plata, in which an investment that exceeds one hundred million pesos is expected to generate more than 600 new direct jobs.

Montás acclaimed the decision of these new companies to choose the Dominican Republic as the destination of their new investments and assured that it is the result of the economic policy outlined by the government headed by President Danilo Medina.

These new companies will be located mainly in the cities of Santiago, Santo Domingo, San Pedro de Macorís and San José de Ocoa.

Within the framework of the meeting, Mrs Luisa Fernández, Executive Director of The Free Zones Council, gave a report on the 2nd Industrial Linkages Seminar, recently celebrated in Santo Domingo, with the suppport of the World Bank and the Economic Commision for Latin America and the Caribbean (ECLAC), and participation of several public and private institutions.

She also presented the results of the actions carried out abroad to promote the investment climate of the free zone sector and connect with new and potential investors. During the course of the meeting, Miguel Lama, President of Santiago Free Zone Corporation made a presentation on the growth of PIVEM, the new logistics facilities, as well as the new projects and improvements being executed at the park.

Source: www.listindiario.com

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