In the first half of 2024, Dominican free zones contributed to 67.2% of the country’s export revenue, President Luis Abinader announced during the La Semanal press conference on Monday, 12 August 2024. Abinader highlighted that this sector is responsible for 198,466 direct jobs, or 65.4% of the total employment, and exports 1,800 products to 143 countries, generating US$8.05 billion in revenue. Additionally, investments in the free zones have reached US$7.5 billion.
Abinader pointed out that in May 2024, free zone exports set a record with US$813 million, and over the past four years, this sector has created 200,000 new formal jobs.
Regarding accumulated investment, he noted a relative increase of 44.5%, with investments rising from US$5.19 billion in 2020 to US$7.5 billion in 2023.
The President also noted that employment in free zones has reached a historic high, increasing from 119,974 in June 2020 to 198,466 in 2024 — a 65.4% rise. The sector predominantly employs young people, with an average age of 32, and women make up 53% of the workforce, totaling 103,903.
On exports, Abinader explained that free zone companies exported US$6.27 billion in 2019, and US$8.052 billion in 2023, marking a 28.36% increase. This contributed to 67.2% of total exports in the first six months of this year.
Speaking on the issue at the weekly press conference, Industry & Commerce Minister Víctor Bisonó added that free zone companies create more than ten times the employment of traditional companies, with each direct job generating 2.5 indirect jobs. This system impacts 700,000 Dominicans, providing dignified livelihoods. Free zone industries operate with a privileged tax and labor regime.
Under President Abinader’s administration, 315 new free zone companies have been established.
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La Semanal 12 August 2024
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13 August 2024