Cyberpark of Santo Domingo
Why the Dominican Republic? | Legal and Finance | Further Information
The Dominican Republic has been one of the most successful countries in the development of Commercial Free Zones in the Western Hemisphere. Now, in a joint effort between private shareholders and the Government of the Dominican Republic, a venture has been set forth to develop and operate the CYBERPARK OF SANTO DOMINGO, the first technological free zone park in the country. This new park is specialized in Information Technology (IT) and related industries including information services exports, software development and computer design, as well as of manufacturing technology products. Cyberpark of Santo Domingo is established in Andres, Boca Chica, less than 5 minutes from the International Airport of Las Americas, the main airport in the country.
The Cyberpark is developed on 1.2 million sq. meters of land for a full-scale, including the construction of an advanced technology park for industrial and office users. The Cyberpark offers an environment with the essential elements of support for information industries in a tropical, landscaped setting close to the sea. In addition the free zone status is a critical aspect of the Cyberpark helping foreign and local technology firms in cutting operational costs.
Planned infrastructure includes a state of the art digit park designed to host software and telecom-based operations and an industrial area for high tech manufacturing. Given the dimensions of the Cyberpark, enough space exists for tenants to design and build their own office space within a range of pre-set specifications. An option to buy will be offered for office units.
The architectural design of the Full Scale Cyberpark complements the natural environment of the area, the climate, and its geographic location. The combined elements will offer a "work, learn, and relax" environment unique to the whole Caribbean Basin and Latin America.
Among the types of companies that will benefit from establishing their operations within Cyberpark are:
- Labor-intensive web design, development and hosting/support services capable of providing value-added operations including translations, graphic design, and software/database extensions;
- Local and internationally-owned software development and custom programming/consulting firms seeking new pools of skilled workers;
- Corporate training centers for North American and European firms seeking to avoid the high costs and visa uncertainties of bringing Latin American counterparts to the US for technical training;
- Computer hardware/technical support operations (principally bilingual call centers for computer hardware/software companies); and
- Media conversion services (emphasizing digitizing and compressing, transcribing, indexing/abstracting, and translating source videotape and audio materials.
CYBERPARK is also working closely with the Government of the Dominican Republic in Developing the Technology Institute of Las Americas, ITLA, an entity dedicated to advanced IT training and education, with specializations in software, telecommunications, hardware, and e-commerce. ITLA is located within the Park premises.
CYBERPARK and ITLA are aimed to encourage and nurture the growth of the IT industry by developing and supporting High Tech Startups and small entrepreneurs in the Dominican Republic and other countries of the Caribbean Basin and Latin America related to the Cyberpark of Santo Domingo.
Why the Dominican Republic?
The Dominican Republic has a vibrant and growing economy. With an excellent telecommunication infrastructure, a highly developed industrial free trade zone network, a stable economy and a tradition of democratic governments for over the last 3 decades, the Dominican Republic offers the best location for investments in various sectors such as electronic commerce, high-tech manufacturing, telecommunications, energy, and tourism.
The country is geographically gifted. It's convenience to all markets is desirably located in the center of the Caribbean Sea, it is close to the United States and serves as a strategic connection between Central, South and North America, and Europe.
This country's advantages are great and many:
- Political and macroeconomic stability
- Trained labor pool
- Low operating costs
- Superb telecommunications infrastructure
- Developed banking and insurance system
- Risk free commercial zones operating environment
- Attractive fiscal and financial incentives
- Excellent training programs to enhance labor skills and increase productivity
- Strategic geographic location; easy accessibility
Legal Framework and Finance
Foreign Investment is regulated by Law No. 16-95, which gives foreign and national investors equal status, as well as allows full repatriation of capital and profits. Also, the Dominican Republic is member of the World Trade Organization and is signatory to the Cotonou Convention (former Lomé IV Convention), as well as a founding member of GATT. As beneficiary of the Caribbean Basin Initiative (CBI), it is allowed duty free import into the U.S. for most manufactured goods and preferential access levels for assembled textile products (G.A.L program). The United States Congress approved textile parity, which grants the country an important economic advantage. The Dominican Republic has also expanded its markets by negotiating Free Trade Agreements with Central American and CARICOM countries.
Further Information
For further specific information, please contact us.
Reinaldo Vera, Executive Vice President
Cyber Park of Santo Domingo
Phone 809.738.5000 Fax 809.738.5001
Rafael Vargas, Operations Manager
Cyber Park of Santo Domingo
Phone 809.738.5002 Mobile 809.308.6207
E-mail cyberparkofstodgo@yahoo.com