Government ‘won’t be stiffed’ by 32 free zones on US$32M loan

Santo Domingo.- The Government will try to collect US$32 million loaned to 32 textile and footwear companies in 2007, because "there’s no way that a poor state as us can give anyone one million dollars gratis."

National Free Zones Council president Luisa Fernandez made the statement Monday and noted that neither interest nor capital has been paid ever since, while the debts have been renegotiated.

"The state, I assure you all, isn’t going to let anyone keep one penny, but understand that they total 588 companies and only 32 were given the loan and more than half of those 32 have a payment agreement and are up to date,” the official said.

Meanwhile Dominican Free Zones Association president Aquiles Bermudez said he has asked the Finance Ministry for a certificate of those 32 companies to determine how the loans were provided to them.

Bermudez and Fernandez spoke after a meeting with president Danilo Medina in the National Palace, after which several major Free Zone investments were announced.