The CEO of Center for Development and Industrial Competitiveness (Proindustria ), Ulises Rodríguez, highlighted the boost that Law 392-07, on Industrial Competitiveness and Innovation, has given to the growth of the national industry, and stated that to date 24,500 jobs have been generated and there are 272 companies installed in free trade zoneindustrial parks and Industrial District.
He reported that they have 82 requests from companies that want to settle in free zones and that the investment in the construction of new warehouses industrial and in renovation of parks it is RD$718,422,937.79. 3,532 comprehensive assistances have been provided to the manufacturing industrial sector, in legal matters, business climate and market strategies.
Rodríguez publicized the success of industrial activity during his administration by being part of the speakers at the discussion “Competitiveness and innovation of manufacturing industries, in light of Law 392-07, aimed at students of the Santiago Law School , CSTI, and the Association of Law Students (ADER), of the Pontificia Universidad Católica Madre y Maestra (PUCMM), in the TEP Auditorium, Santiago Campus.
He praised the rapid recovery of the free zones, in the midst of the COVID-19 pandemic, in what he affirms has been thanks to the strength of Law 392-07.
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He said that 37 training sessions have been offered and 1,480 trained from the manufacturing industry sector on legal issues, business climate, market strategies and benefits of Law 392-07 and its amendments. In addition, 1,259 Industrial Registrations have been assigned and 808 Industrial Registrations have been updated. He expressed that the work of Proindustria does not stop, because the mission is to assist the companies that are “our generators of wealth and jobs.”
He argued that the commercial dynamism has placed the free zone sector as the second generator of wealth and sources of employment, after tourism. The lawyer and engineer in technology and civil construction, stated that the country has a robust economy, multiplier of jobs, to which is added the magnificent geographical location of the country to reach important world markets.
He specified that Law 392-07 is really the best tool for competitiveness and industrial innovation, which favors the Dominican Republic, which has an open economy, with a formidable policy of insertion in world trade, with important agreements signed commercial, such as the Free Trade Agreements, which supports global and local competition, as stated in the Law on Industry Competitiveness and Innovation.
“Our Law 392-07 is transcendental so that our free zone companies continue to be competitive, transformers of our raw material and thus, give more added value to our products. The objective of Law 392-07 is to create a new institutional framework that allows the competitive development of the manufacturing industry, proposing for these purposes policies and support programs that stimulate industrial renewal and innovation, with a view to achieving greater diversification of the apparatus. national productive sector”, highlighted the official”.
He expressed that thanks to the support given by President Luis Abinader, the Dominican Republic is positioned as one of the countries with the most free zones in Latin America, which reflects the confidence of investors, who every day show greater interest in placing their companies in Dominican territory.
He pointed out that the law has the mechanisms for industrial chaining, through the promotion of districts and industrial parks and the link to international markets. “To meet its objectives, the law itself provides support instruments for logistics agility, increased exports, collaboration between different special regimes and production chains.”
In addition to this, he stated that recent legislation allows industries to benefit from a series of incentives, which could perfectly be the subject of another interesting debate.
The official stressed that since the free zones have proven to be an instrument for the competitiveness of the countries, channels to attract investment and generate employment, in PROINDUSTRIA, a decentralized public law entity, with its own legal personality, functional, budgetary and administrative autonomy, At the time of Industrial Qualification, companies obtain a 50% exemption from the payment of the Tax on Transfers of Industrialized Goods and Services (ITBIS), for the purchase of raw materials, inputs and capital goods, among others.
He explained that the Proindustry Law, through the Industrial Registry that it grants to companies, receive the following benefits:
– Be part of the statistics of the country’s manufacturing industries.
– Access the tax benefits of Law 392-07.
– Receive preferential electricity rate.
– Obtaining other legal records.
– Comply with international requirements for import purposes.
– Sell your products in shops and supermarkets.
– Be accepted to qualify as a State provider.
He specified that Proindustria is an institution with two substantial wings: one that operates in the Directorate of Parks, through the rental of industrial buildings, dedicated to manufacturing or services for the local market (in parks and Industrial Districts), and the other It is the one in charge of renting buildings or facilities for companies, dedicated to export (Free Zones).
