CNZFE approves 12 new companies and $66.65 million investment in Free Zones

Santo Domingo.- The board of directors of the National Council of Export Free Zones (CNZFE) has approved the establishment of 12 new companies under the free zone regime, with a total investment of US$66.65 million. These companies, which will engage in various industries such as medical device manufacturing, call center services, tobacco processing, furniture production, and more, are expected to create 670 direct jobs in the Dominican Republic.

The CNZFE expects these new companies to generate approximately US$21.6 million in foreign exchange. The investments will be spread across several regions, including Santo Domingo, Santiago, Samaná, Puerto Plata, El Seibo, and San Juan, further solidifying the presence of free trade zones in diverse areas of the country. In addition, the CNZFE approved a new industrial park with an investment of US$75.05 million, which is projected to create 1,541 direct jobs.

Executive Director Daniel Liranzo also reported that exports from the free trade zone sector grew by 8% in October compared to the previous year, reaching US$7.268 billion. The main contributors to this growth are medical devices, pharmaceuticals, tobacco, electronics, and textiles. As of the end of October, the sector employed 197,337 people, continuing its upward trend.