2001News

Less free zone contracts being received

Fernando Capellan, president of the Dominican Association of Free Zones, confirmed that free zones have experienced a lull in contracting for 2001. He said that it is true some free zones have had to fire personnel. He said this is primarily a result of the slow down in the US economy. Nevertheless, he said that the cancellations are not significant. "Orders are down; it is not something to be alarmed about; sales are down, Americans are being cautious, buying less," said Capellan. Nevertheless, he believes that in the next three years some 65,000 new jobs will be created in the sector as a result of the process of growth and diversification of export manufacturing in the DR. Free zones today employ about 200,000 people.