President Luis Abinader inaugurated this Friday the Hispaniola Industrial Free Zone Park and began construction work on the Hispaniola Logistics Center in the municipality of San Antonio de Guerra, with an estimated investment of DR 2.4 billion, which will contribute to the creation of 15,000 jobs.
The Hispaniola Economic Zone is a development project that includes a free zone, a logistics center and a business-industrial park.
During the ceremony, the Minister of Industry, Commerce and MSMEs, Víctor Bisonó, said that the expansion of the park inaugurated today, under the Hispaniola Economic Zone macro-project, to date has 3 companies and 1,300 employees.
Park projections
Bisonó also stated that, if the park’s development projections are taken into account, starting from the land that will be made available to companies dedicated to different types of activities, plus the average employment that is registered in the free zone parks located in Greater Santo Domingo, the Hispaniola Industrial Free Zone Park will be able to offer jobs to some 15,000 people.
He noted that by the year 2024, the necessary infrastructure will be built to house 3 new companies, with which the industrial park will reach a dimension of 650,000 square feet of buildings, projecting a total labor market of about 1,600 direct jobs.
He also added that the investment executed by the park, together with the one programmed for this year alone, will reach 2,400 million pesos, so this growth places the Hispaniola Industrial Free Zone Park as the third largest private free zone park in Greater Santo Domingo.
“We can affirm then that these last three and a half years have been historic for our free zones and the work dynamics that we have been able to generate between the Government and the private sector has been fundamental to obtain the results that we have evidenced to date and that I am sure will continue for at least four more years”, he said.
Project specifications
Arturo Peguero Almánzar, director of the project, informed that the complex starts with the Hispaniola Industrial Free Zone Park, which has an area of 420,000 square meters of land. There currently operate 3 companies that occupy industrial buildings with an area of 400,000 square feet and employ 1,300 people.
Hispaniola Industrial Free Zone Park has enough space to build 2.9 million square feet of buildings to house companies dedicated to manufacturing, logistics, commerce and services.
The Hispaniola Logistics Center, whose construction began today, will occupy 110,000 square meters of land on which 600,000 square feet of buildings will be constructed for logistics operating companies. The first warehouse will be completed by the end of 2024 and will house two companies in an area of 120,000 square feet. Its objective is to facilitate the international trade activity of the companies that settle in the Hispaniola Economic Zone.
History of the project
Errol Boulos, executive vice president of Hispaniola Industrial Free Zone, thanked President Luis Abinader for his second visit to the project. The first one was for the beginning of the construction of the free zone. He said that this initiative dates back to 2002, when he participated in an activity of the Latin American Candle Manufacturers Association in Punta Cana, when they acquired the equipment to install a small factory that he baptized as Velas Hispaniola.
It is important to highlight, said Boulos, that one of the motivations for launching this investment initiative in the creation of an Economic Development Zone is the environment of stimulus to private investment and intense promotion of exports, as an essential component of the economic policy of President Abinader.
The president was accompanied by the director of ProDominicana, Biviana Ribeiro, and the director of the National Council of Free Zones, Daniel Liranzo, as well as the senator and the mayor of the municipality of San Antonio de Guerra, César Rojas.
Source: Presidencia.gob.do
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