President Danilo Medina has inaugurated a modern aluminum manufacturing plant in the Industrial Free Zone Rio Sur. Kington Aluminio is the first investment manufacturing business of People’s Republic of China in the Dominican duty free zone tax regime, a milestone for the Dominican Republic. The new company, a RD$530 million investment, will have 1,400 new employees.
Operations’ director for the company, Quinquin Zheng said that the decision and strategy behind the business was to create aluminum for the construction business. The investment comes as part of a business decision seeking vertical integration, good geo-political location, attractive economic and commercial conditions plus the advantages of free zone regime and the DR CAFTA trade agreement.
Media reports say that three other Chinese companies await for permits to invest another US$870 million in electricity and construction projects in the country, according to Fu Xinrong, commercial representative of China in the Dominican Republic.
Since the Dominican Republic maintains diplomatic ties with Taiwan, the People’s Republic of China has a commercial office in the country.
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Diario Libre
El Dia
11 April 2018
