SYM Naval participated in the conference “Free Zones of the Dominican Republic: gateway to the USA market”

On February 25, 26 and 27, Banco Sabadell and the Export to Grow Foundation organized in Madrid, Barcelona and Valencia the “Dominican Republic Free Zones – Gateway to the USA Market” information days.

In them, sector authorities and specialists from Banco Sabadell informed private investors about the opportunities to install manufacturing operations, logistics, as well as other industrial and naval processes in the Dominican Free Zones and the advantages they offer:

• Their geographical location
• Access to the US market.
• Logistic infrastructure
• Stability.
• Tax benefits and economic incentives that are considered the most favorable in the Western Hemisphere.

One of the main advantages offered by the Dominican Republic is the new logistics deposit regime, according to which operators can consolidate, store, label or distribute in designated logistics centers without paying any import taxes until the product has not been nationalized.

The event included a round table in which Francisco Lage, CEO of SYM Naval, participated talking about his shipyard construction project and a Free Zone Park specialized in companies of the naval sector in the Port of Azua, in the south of the country, which will serve the entire Caribbean area and also has the financial support of Banco Sabadell. Also participating in this panel were Sandra Millán (Banco Sabadell), Silvia Cochón (Promotion Manager in the National Council of Free Zones DR), Carlos Flaquer (Director of Parks and Logistics of DP World Caucedo), Roberto Tejada (Caribbean Liquid Sugar) and Alejandro Arola (President of Arola).

The fastest growing country in Latin America

According to Luisa Fernández, director of the National Council of Export Free Zones (CNZFE), “in the last five years, the Dominican Republic has been the fastest growing country in Latin America and is positioned as one of the most interesting options for investment and Spanish exports”. The data from the sector are impressive:  “176,473 direct and 200,000 indirect jobs, 673 companies in 74 industrial parks, 1,847 product lines exported to 131 countries, 57% of total Dominican Republic exports, with value more than 5,906 million euros”.

Also participated in the event Nelson Toca Simó, Minister of Industry, Commerce and MSMEs of the Dominican Republic; Olivo Rodríguez Huertas, Ambassador of the Dominican Republic in Spain; Eduardo Currás De Don Pablos, Deputy Director General of Banco Sabadell; Federico Domínguez, President of the Dominican Association of Free Zones; Gustavo González de Vega, President of the Association of Ibero-American Free Zones and Fátima Rodríguez San Martín, Director of International Territorial Business of Banco Sabadell.