Santiago de los Caballeros, DR.– During the Capex Business Talk, entitled “Free Trade Zone: Creator of Value, Innovation & Sustainability”, businessmen Marco Cabral and Fernando García addressed the opportunities and challenges facing the sector in the Northern region of the Dominican Republic.
During his speech, Marco Cabral, president of the Association of Companies of Free Trade Zones Cibao, stressed the growing difficulty for companies to find qualified personnel, a challenge that he attributed to the historical deficiencies of the educational system.
“The great challenge we face is the development of human capital to meet the demands of the productive sectors. As a country, we need to take on the pending task with high priority. to improve the quality of education to ensure a competitive future,” said Cabral.
Citing the Dominican Republic’s poor performance in the PISA tests, Cabral said that we continue to be in the global rearguard of countries that administer the test and that without quality in Dominican education there is no competitiveness or development.
He also highlighted the importance of the Northern region in the national economic panorama, pointing out that “50% of the free trade zone parks are concentrated here, 51% of companies and 37% of the jobs generated by the sector, which is helping our region to have the greatest impact on the positive results of Dominican economic growth.”
He also mentioned that last July was a record month for exports in the sector and industrial free zones were the sector that grew the most (9.3%) according to the IMAE published by the Central Bank.
During the conversation, Fernando García, director of operations of the Santiago Free Trade Zone Corporation, assured that the Victor Espaillat Mera Park (PIVEM), contributes approximately one 15 percent annual volume of national exports, which reached 8 billion dollars.
He also mentioned the Corporation’s significant investments in infrastructure and the latest trends, estimated at five billion pesos over the last twelve years, to make PIVEM one of the most competitive and innovative parks.
García reported that the PIVEM is home to the companies Eaton, dedicated to the manufacture of electronic equipment, as well as Boombah and Resonance, which have revolutionized the textile sector with the use of technology and environmental protection protocols.
The discussion, organized by Capex, brought together business leaders and experts from the sector to discuss the role of free zones as drivers of innovation, sustainability and value creation in the country.
The activity was sponsored by the Santiago Free Trade Zone Corporation, AFP Siembra, Banco Popular, Ennova, Swedish Match Dominicana and TEP PUCMM.
