2005News

Thousands of jobs lost in La Vega

The closure of half of the factories that used to operate in the La Vega industrial tax free zone has meant the loss of 6,000 jobs. According to sources in the industrial park, the shut downs are due to high costs, especially electricity, and the appreciation of the Dominican peso against the United States dollar. Juan Jose Alorda and Elena Tineo, representatives of the La Vega Chamber of Commerce and the La Vega Expo 2006, called the situation “difficult” for trade in general, since the industrial park used to have 12,000 employees. They pointed out that the Ambar company which used to employ 1,000 people has recently closed its doors. The business representatives called on the government to institute policies that would revitalize sales and commercial activity in the region.