Industrial sector plans to invest RD$ 60 billion by 2023

Between January – September 2022, total sales reported by the Industry sector to the DGII grew by 19.7% compared to the same period of the previous year.

By 2023, the industrial sector is planning to invest over 60 billion pesos and a significant generation of jobs derived from the same.

The announcement was made on Wednesday by the president of the Association of Industries of the Dominican Republic (AIRD), Celso Juan Marranzini, who stressed that the sector has contributed in a decisive way to the development and stability of the country.

In this regard, he said that between January – September 2022 the total sales reported by the Industries sector to the General Directorate of Internal Taxes (DGII) grew by 19.7% compared to the same period of the previous year.

While DGII collections contributed via the local manufacturing sector totaled RD$104 billion.

He also detailed that jobs in the Industry sector registered with the TSS exceeded 366,000, representing an increase of more than 15,400 new jobs compared to last year.

“Now, when compared to 2020, it represents 46,300 new formal jobs, which is evidence that in the post-COVID recovery the industry has played a leading role,” Marranzini indicated.

Regarding the Average Manufacturing Salary, he highlighted that it has been increasing continuously, surpassing inflation levels. As of September, the average salary registered in the TSS was 15.5% above the same period of the previous year.

“It is also important to highlight that in the last three months we have seen how the monthly inflation reported by the Central Bank is within the target range, which bodes well for 2023,” he said.

Regarding the dynamism of the sector, he pointed out that it is also seen via the Dominican Financial System. In this sense, loans to the manufacturing industries increased by 18.3%.

He recalled that in December of last year we announced investments in excess of 79 billion pesos, a goal that has been achieved to date.Industrial Sector

“In these four years, we have also worked intensely on quality-related issues, addressing multiple aspects that contribute to establishing parameters, protecting our consumers and avoiding unfair competition. We established a model of circular economy, social and environmental responsibility, sustainability, fundamental aspects that define the industry of today and of the future; which are an integral part of our agenda through NUVI, where we seek to raise awareness in the sector and among citizens of the need to give new life to waste,” he said.

Marranzini stated that they need high levels of efficiency and zero bureaucracy in the State, productivity and greater added value in their industries as fundamental factors to continue the advance towards their industrialization.

“We highlight as a strength the high level of diversification of our productive sectors within our economy. We continue to work on productive linkages with free zones, tourism and agriculture, convinced that the economic development of the nation must be an integrated system that includes all of us,” he said.

Marranzini spoke at the awards ceremony where he recognized the extraordinary contributions of companies, institutions and industrialists, in an event in which the management reports and the new board of directors were presented.

Learn More: ECONOMY

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