Dominican free zones represent a good opportunity for Spanish investors

Spain-Dominican Republic Business Meeting

Currently, 10 Spanish companies are already operating from the Free Trade Zones.

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The free zones of the Dominican Republic They are a good opportunity for Spanish companies who are considering settling in the country, as was made clear at the meeting held by the Dominican Minister of Industry, Commerce and MSMEs, Juan Temístocles Montás, with Spanish businessmen. The event has been organized by Chamber of Spain, In collaboration with ICEX- Spain Export and Investment and the Spanish Confederation of Business Organizations (CEOE).

 

The Meeting was attended by: Secretary of State for Commerce, Marisa Poncela, which has highlighted the good economic moment it is going through Dominican Republic and has referred to the Spanish sectors with the most opportunities in that country, such as energy, infrastructure, as well as tourism and hotel technologies. Regarding the free trade zones of the Dominican Republic, Marisa Poncela He stressed that they are boosting the local economy and can serve as ideal platforms for manufacturing and exporting to other markets.

 

For her part, the general director of the Chamber of Spain, Inmaculada Riera, has assured that the Dominican economy is experiencing one of the greatest growths in Latin America over the past twenty years. The 6,6% increase in GDP in 2016, contained inflation, a reduced current account deficit and the increase in foreign direct investment are, in Riera's opinion, proof of the dynamism and sustainability of the new growth model, based on the services sector and the industrial sector.

 

 

The event was organized by the Spanish Chamber of Commerce, in collaboration with ICEX- Spain Export and Investment and the Spanish Confederation of Business Organizations.

 

 

During his speech, the Dominican Minister of Industry, Commerce and MSMEs referred to the benefits that his country offers to foreign investors and more specifically to the advantages that are given in the 68 free zones that it currently has. Dominican RepublicFactors such as a good business climate, political and economic stability, a diversified economy or the stability of the currency with respect to the dollar are some of the general factors that the minister has stated as attractive for the Spanish investment.

 

Medical equipment, pharmaceuticals, electronic products or textiles

 

On specific incentives for investment in free trade zones, Juan Temistocles Montas He stressed the national treatment that the foreign investor and 100% exemptions from both national and municipal taxes. As for the sectors that can benefit most from setting up in these free zones, the minister referred to medical equipment and pharmaceutical products; electrical and electronic products; textiles and clothing, footwear and leather goods and tobacco products.

 

At the business meeting Spain-Dominican Republic 32 Dominican companies and 67 Spanish companies participated, especially from the footwear, tobacco, logistics, textile and consulting sectors.