In his welcoming speech yesterday to the First Caribbean-U.S. Forum on Trade and Investment being held here in Santo Domingo, President Fern?ndez announced the creation of a new kind of free trade zone (FTZ, or "zona franca" as they are known in the DR) – a "cyber-city" that will be devoted to attracting investors linked to telecommunications and electronic commerce. The cyber-city – to be designated "Siglo 21" ("21st Century") – will aim to attract businesses such as international calling services, software design and production and computer graphics design. Recalling that the DR recently lowered its tariffs on computer and computer-related software and hardware, he revealed that the Investment Promotion Office (OPIN) will soon send to Congress a draft law to provide special incentives to high technology investments in the DR’s zonas francas.
