During 2024, the National Free Zones Council, chaired by the Ministry of Industry, Commerce, and MSMEs (MICM), approved 74 new companies with a total investment amounting to RD$11,572,496,139.23 and the creation of seven thousand projected jobs.
The MICM highlighted that 67% of the country’s total exports during the January-November 2024 period were attributed to the free zones regime, with the United States being the top export destination, accounting for 72.9%.
In terms of employment, as of November 2024, sectors associated with MICM policies generated 65% of the country’s formal jobs, according to the Central Bank. By the third quarter, employment reached a historic level of 5,029,347 workers, with 2.4 million formal contributors.
Preliminary data from the Monthly Index of Economic Activity (IMAE), published by the Central Bank as of November, shows that sectors linked to the MICM recorded growth exceeding 4%. These include Free Zones (6.5%), Transportation (5.8%), Commerce (4.9%), Construction (4.7%), Local Industry (4.4%), and Other Activities (4.4%), reflecting robust economic dynamism.
The MICM emphasized that, through its single-window service, 12,427 MSMEs were formalized, driving a sustainable and formal economy. Additionally, 3,737 consultations were provided on business operations, packaging design, trademark registration, social media strategies, and more, strengthening the competitiveness of small businesses. Furthermore, 7,600 companies were certified as MSMEs, 24% of which are led by women.
Regarding foreign trade and intellectual property, for the first time in nearly 30 years, the Dominican Republic was removed from the watchlist of the Special 301 Report on Intellectual Property, prepared by the Office of the United States Trade Representative (USTR). This milestone positively impacts the country’s business and investment climate.
These achievements reflect the resilience of productive sectors, combined with the effectiveness of monetary policy and subsidies for fuel and energy. This positions the Dominican economy to continue growing in line with its potential.
Concerning illicit goods, by 2024, the retained units will exceed 35 million, thanks to a joint effort between the MICM and other public entities to pursue, sanction, and eradicate illicit commercial activities, achieving zero deaths from adulterated alcohol.
Support for creative sectors remains a cornerstone of the MICM’s efforts, with 2024 marking the presentation of the first diagnostic report on the video game sector, strengthening this emerging industry through training and mentoring initiatives.
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