Free Trade Zone Corporation launches new projects and investments of 900 million pesos and 3,000 jobs.

The Santiago Free Zone Corporation (CZFS) initiated -with the presence of the Vice President of the Dominican Republic, Mrs. Raquel Peña- new projects and investments for the industrial and business sector, focused on the western part of the city of Santiago. On this occasion, new infrastructure for the expansion of the tobacco sector companies: Grand Island Group, Swedish Match and Insight Pack; the high technology textile companies: Boombah and SAKIRA, the latter of the Champro Group and a Contact Center of the company Sewn Products. The new buildings are expected to be delivered between April and August of this year.

The announcement was attended by the President of Senate, Eduardo Estrella, the Minister of Environment, Orlando Jorge Mera, and the Minister of Agriculture, Limbert Cruz. Investors of the seven new projects valued at 900 million pesos, which will generate around 3,000 jobs, also attended.

Miguel Lama, president of the Board of Directors of the Santiago Free Zone Corporation, highlighted the importance of these projects for the development of the industrial and business sector throughout the country. He also announced the construction of a new electrical substation for the Corporation with an investment of 180 million pesos, which will double the electricity capacity of the Victor Espaillat Mera Industrial Park.
“The Corporation, on its way to its 50th anniversary of operations, is committed to innovation and, at the same time, promoting projects that contribute to the growth of its productive capacity,” Miguel Lama stated.

Damien Bischoff, president of the Grand Island Group, on behalf of the investors in the new projects, stated: “PIVEM is an excellent platform for industrial growth, both for entrepreneurs and for the development of the city and the region. Therefore, it is a pleasure to see great growth and a better projection into the future”.

“The pandemic highlighted PIVEM’s originating mission: to create jobs in the disadvantaged neighborhoods of Santiago. When the country was closed for two weeks and the government allowed the free trade zone to operate at the beginning of April, we were juggling to work; we implemented biosecurity measures to continue producing, exporting, giving the best of ourselves”, the French-born businessman stated.

Damien Bischoff asserted that the free trade zone is the guarantor of the social cohesion of Santiago and the country, and that it has shown the greatest resilience, over all other sectors.