The National Council of Export Free Zones (CNZFE) has given the green light for 12 new companies to operate within its tax free and labor flexible regime, representing an investment of US$66.65 million. The companies would generate 670 new direct jobs nationwide.
During the Council’s sixth meeting of 2024, it was revealed that the new ventures will contribute approximately US$21.6 million in foreign exchange. Their operations will encompass a broad spectrum, including medical device development and manufacturing, call center services, flooring production, tobacco processing, warehousing, furniture manufacturing, and more.
Daniel Liranzo, executive director of the CNZFE, indicated that these new investments will have a significant impact on various regions of the country, including Santo Domingo, Santiago, Samaná, Puerto Plata, El Seibo, and San Juan de la Maguana. This underscores the growing presence of free zones across the Dominican Republic.
The Council also approved the establishment of a new industrial park, with an investment of US$75,050,493 and an anticipated creation of 1,541 direct jobs.
Liranzo highlighted that free zone exports grew by 8% year-on-year in October, reaching US$7.27 billion. This growth is attributed to strong performances in sectors such as medical devices and pharmaceuticals, tobacco and its derivatives, electrical and electronic products, and textile manufacturing.
In terms of employment, the sector reported 197,337 direct jobs as of October, reflecting continuous growth in the industry.
The CNZFE council meeting was chaired by the Minister of Industry, Commerce, and SMEs, Victor (Ito) Bisono, and was attended by key figures from the public and private sectors, including the vice minister of free zones, Johhanes Kelner, and the president of the Dominican Association of Free Zones, Luis José Bonilla Bojos.
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Presidency
CNZFE
28 November 2024