Written by 10:12 am Food

Free Zones Council approves 10 New firms set to generate 636 direct jobs

Santo Domingo.- The National Council of Export Free Zones (CNZFE) greenlit the establishment of 10 firms with a projected investment of RD$2,039 million in its inaugural session for the yr 2024. Moreover, the approval included the setup of three free zone parks, foreseeing an investment totaling RD$2,463 million and generating US$2.15 million in foreign currency. The initiative is about to create 636 new direct jobs and contribute US$12.5 million in foreign exchange.

In 2023, the free zone sector achieved record-breaking export figures, reaching US$8.060 million and generating over 197,700 direct jobs. The Minister of MICM reported that the recent approvals bring the overall variety of approved firms to 290 throughout the current government administration, with a projected investment of US$660.1 million and the creation of 44,657 new direct jobs.

Minister Bisonó, alongside CNZFE Executive Director Daniel Liranzo, emphasized that in 2024, the free zones would maintain historical performance by way of job creation, investment attraction, and export growth. The favorable business climate within the Dominican Republic was highlighted, with plans to proceed fostering development, attracting new investments, and supporting existing ones.

The approved firms, corresponding to Consultants LA and Broadway Support Services in services and Precision Tech, Port Bay Services, DasMedical International, Dominican Siah, White Label Dominicana, and ETC Elite Tobacco Company in the economic sector, will engage in various activities, including international customer assistance services, call center operations, cigarette manufacturing, electronic device assembly, food and beverage services for cruise ships, textile manufacturing, tobacco processing, and cigar production.

These new free zone entities shall be strategically positioned across different provinces, including Santo Domingo, National District, Santiago, La Vega, Pedernales, La Romana, San Pedro De Macorís, and El Seibo.

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