The Santiago Free Zone Corporation has been selected as the winning free zone of the Latin American and Caribbean region by the Financial Times fDiIntelligence Global Free Zones of the Year report. The report singles out the zones that are best in class, whether within their respective regions, providing for a particular size of client, or improving their offering through reinvestments, expansions or upgrades.
The Santiago Free Zone was chosen as winning zone for Latin America and the Caribbean. The report states:
“Zona Franca Santiago has been selected as the winning zone for the Latin America and Caribbean region, as well as the winning zone for the Caribbean sub-region. Located in the third most populous Caribbean country, the Dominican Republic, nearly 20,000 people were employed in 2014 with the zone home to 57 SMEs and 20 large tenants. A specialized training center is offered to clients, as well as an innovation and professional development center, developing training programs and tailoring employee specialist skills specific to clients’ needs.” The zone was also commended for its infrastructure developments, following the addition of a new park measuring 230,000 square meters, which included a further 20 buildings. A housing development project is also under way, which will provide homes for 1500 employees in the zone.”
The fDiIntelligence report also highly commended the La Romana Free Zone, saying:
“More than 6,600 people are employed in Zona Franca Romana’s 10 companies, nine of which are large tenants. In 2014, two major expansions occurred in the zone, adding 9,000 square meters to each facility. Tabacalera de Garcia, which manufactures cigars, and Brideshore, which develops art materials, both expanded their presence in the zone in the past year.”
Announcing the awards in the Dominican Republic, corporation president Miguel Lama said that local government support has enabled the free zone sector to grow sustainably in the past year. Dominican Free Zones Association (Adozona) president Jose Tomas Contreras said that the progress made by the sector in 2015 was the result of “an effective public-private alliance,” which has created the necessary conditions for its expansion.
In 2015, the free zone grew 3.95% in direct jobs, 6.67% in parks in operation and 3.79% in accumulated investment. Exports were up 4.79%, approved companies grew 21.5% and the number of companies in operation was also up 3.42%.
http://www.fdiintelligence.com/Locations/fDi-Global-Free-Zones-of-the-Year-2015-
http://www.lainformacion.com.do/noticias/ciudad/54203/reconocen-zf-santiago-como-mejor-parque-industrial-de-latinoamerica
http://www.diariolibre.com/economia/corporacion-de-zona-franca-de-santiago-es-el-mejor-parque-de-la-region-DK2185757