2004News

CFI and ADOZONA sign agreement

The Corporation for Industrial Development (CFI) and the Dominican Association of Free Zones (ADOZONA) have signed an agreement to permit the administration of each industrial entity operating under the free zone concept to be overseen by the individual industrial associations of each park. The free zone park businesses will form a board to run their parks. Jose Ovalle Polanco, the CFI director, and Arturo Peguero, the president of ADOZONA, said that the agreement afforded a viable and safe way to better the conditions in each of the industrial parks that were built by the government, enabling them to meet tougher international standards. Ovalle was clear when he said that this agreement had absolutely nothing to do with the sale of the buildings where the various industries are located. He said that if the businesses that were renting the space wished to purchase the locales, it would most certainly be an option. Peguero, speaking for the industrialists, said that his group appreciated the efforts of the CFI in making the transfer and administration of the services much easier. According to Peguero, this new project will enable the industrial free zones to offer a more efficient service to their clients.