News | Nigua Free Zone

Free zones have once again demonstrated their resilience to crisis processes



 

El Caribe - May 6, 2021

When the free zone sector of our country was seriously affected by the effects of two processes or events, one internal and the other external, which occurred at the end of 2004 and the beginning of 2005, such as the appreciation of the value of the Dominican peso and the dismantling of the Textiles and Clothing Agreement (ATV); free zones knew how to overcome and reinvent himself. From that moment on, a process of productive diversification began within the sector. Previously, textiles and apparel were risponsible for about 50% of exports and 70% of jobs. Today, this diversification process is evidenced when we see that our main export product is medical devices, followed by electronic products, manufacture of cigarettes, textiles, jewelry, footwear, services, among others.

https://www.elcaribe.com.do/opiniones/las-zonas-francas-han-demostrado-una-vez-mas-su-resiliencia-ante-procesos-de-crisis/