FTZ in trouble

[NewsWhore]

Even the free trade zones (FTZ) are expressing opposition to the reform. Business leaders linked with the work at the FTZ say that the fiscal reform, especially the elimination of exemptions contemplated by law 28-01, could have alarming repercussions on FTZ, and that many of the FTZ would not be prepared for such result, forcing many people out of jobs. The incentives allotted to the FTZ will be carried out through the period of the legislation, but business leaders, according to El Caribe newspaper, say that once the legislation expires they will be in danger, considering they have bought land and made investments that they won't be able to recoup. Free trade zones are already hurting under competition from China, increasing cost of electricity and labor in the DR, having to migrate to manufactured skill labor apparel items with increased value added.

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