Economy November 11, 2023 | 9:11 am

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Free trade zone benefits will be given to agribusiness exporters

Fresh Fruit is a special free zone located in Mao

Mao—Bisonó says this would give more significant opportunities to accelerate industrialization processes and add value to agricultural products.
The Ministry of Industry, Commerce and Mipymes (MICM) is studying the proposal that companies in the agro-industrial area dedicated to exporting can belong to the Special Free Trade Zone regime and enjoy the tax and customs facilities that apply to them, including tax exemptions.

This was revealed by Minister Víctor Bisonó, who emphasized that this proposal has already been presented to the President. Luis Abinader is responsible for creating free agricultural zones, as in other countries competing with local exports.

He expressed that companies were approved under this particular free zone branch before, but it was eliminated from the law. He said this would give more significant opportunities to accelerate industrialization and add value to Dominican agricultural products. He mentioned that today, there is a lot of international demand for dried fruit, and support must be given to this sector.

He cited the example of famous agro-industrial companies in the country, such as Goya and Rica, that sell fruit concentrates or canned vegetables.

“Pineapple, cocoa, mango, greenhouse vegetables, avocado for export would be exempted from paying taxes on boxes, packaging, agrochemicals, fertilizers and other materials used to make them more productive and competitive, because other countries also have it,” he said.

Bisonó indicated that this proposal also considers the academic sector, private companies, and the Government.

He added that in Mao, Valverde, there is a unique free zone called Fresh Fruit, which exports organic bananas and works differently from the banana growers of Monte Cristi who are not, so they are at a disadvantage.

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