PUNTA CANA, LA ALTAGRACIA – PCFTZ, Punta Cana Free Trade Zone: Air, Sea, and Land Logistics Center and Free Trade Zone Park; is the Puntacana Group's newest business venture. This modern, high-impact project in the eastern region will create more than 10 jobs.
It will be built on a 546,617.45 m2 plot of land, with an approximate investment of US$200 million. Construction began last weekend, announced by Frank Elías Rainieri, CEO of the Punta Cana Group; President Luis Abinader broke ground on the project, the first of its kind in the country.
“In the first stage of this project, the Air, Sea and Land Logistics Center will be developed, which will handle import and export cargo and will occupy more than 265,000 square meters of land with 75,000 square meters of construction,” Rainieri explained in his speech.
It will also feature a Free Trade Zone Park that will boost the manufacturing and service industries, facilitating the creation of various businesses on a 185,312 m² plot of land with approximately 93,820 m² of construction. The Punta Cana Free Trade Zone's administrative offices will house the operations of the General Directorate of Customs (DGA), DP World Caucedo, and the Free Trade Zone itself.
“We plan to receive and re-export products from Europe and America by sea and air, and transship them for distribution to their final destination, using flights that simultaneously serve tourism, cargo planes, and vessels. We already carry out these types of operations on a small scale and shipped 30 million kilos of products in 2019. With the new investment, this activity will be taken to extraordinary dimensions, primarily focused on sophisticated air cargo and agricultural products, using airplanes and ships,” the executive stated.
“It is designed to attract especially technology and Fintech service companies. It will promote new investments, attracted, in addition, by the characteristics of Punta Cana, which offers an attractive and safe lifestyle for professionals and bright minds dedicated to the development of services related to new technologies and the digital landscape.”.
Puntacana Group
This project expresses the traditional "doing that has characterized the 52 years of the Puntacana Group".
Rainieri believes that the new investment, along with the expansion of Terminal B at Punta Cana International Airport, will create new opportunities for the country.
“With an eye on the future and a grand vision, 52 years ago the Puntacana Group began to DO. We have promoted the most dynamic development zone in the modern history of the Dominican Republic. And in 2019, the last year before the pandemic, Punta Cana produced nearly 80% of the 16% that tourism contributed to the Gross Domestic Product, directly, indirectly, and through induced effects, according to the World Travel & Tourism Council report.”.
More importantly, he argued, this regional development has stimulated the creation of more than 200,000 jobs (50,000 direct and 150,000 indirect) that have impacted the entire national territory.
He said that the Puntacana Group alone has created more than 18,000 indirect jobs within its property.
