Funds for FTZs

[NewsWhore]

Twenty four businesses that operate in the free trade zones (FTZ) received US$17 million in funds yesterday. The Fund for the Re-conversion of the Free Trade Zones will eventually disburse US$18 million more to also pay suppliers of the free trade zone businesses. Luisa Fernandez, director of the National Council of Exporting Free Zone (CNZFE) said that textile, tailoring, leather and footwear companies were benefitted. The Executive Branch created the fund in February to help the FTZ's in the face of the rising costs and diminishing sales crisis they are experiencing that has caused the loss of 40,000 jobs. Fernandez informed that to access the funds businesses need to have international contracts, more than 570 employees, and work in the areas of textile, tailoring, leather, or footwear.

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