The Dominican Republic’s National Council of Free Trade Zones (CNZFE) has approved permits for the development and operation of four new industrial parks and 12 new companies.
Also called industrial parks, the new free trade zones and companies, once completed, should generate more than 1,200 direct jobs and about US$21 million in profits for the country.
CNZFE also reported that the new parks will be located in Boca Chica, Valverde, San Cristobal, and Santiago, while the companies will be established in Santo Domingo, La Vega, Puerto Plata, and Valverde, with an investment of about 2.2 million pesos (US$44 million).
The companies’ activities will include call or customer service centres, cocoa processing, tobacco and its derivatives, footwear manufacture, furniture, panels and parts, textile manufacturing, electrical and electronic equipment recycling, and marketing materials and equipment for the textile and clothing sector in free trade zones.
Now 50 years in, the Dominican Republic’s free zone programme diversified not only processes and sectors, but also export markets.
Some 74 industrial parks presently operate in the Dominican Republic, with 705 companies, distributed throughout 25 provinces. In fact, industrial parks generate more than 175,000 direct jobs and approximately 200,000 indirect jobs.
“The National Council of Free Zones of the Dominican Republic and the significant strides it has made over five decades in operation are made possible in large part by the strength of the public-private alliance,” Luisa Fernández, executive director of the National Council of Free Zones said in a release of the country’s free trade zone programme.