Consultations before CGR and Mitrab The executive ecretario s of the CZF, Alvaro Baltodano, said that until the moment any indemnification to civil employees has not become effective of the previous administration.       It assured that still it does not know the situation these indemnifications nor the reaches of the questioned collective agreement real, by the General Contraloría of the Republic (GCR) Nevertheless, it advanced that they are going to make the corresponding consultations before the Ministry of the Work (Mitrab) and the GCR. In spite of the cuestionamientos, sources of the CZF confirmed that Ramon Lacayo, ex- director of the CZF, would have stayed as adviser within the Corporation.

After meeting by more than one hour with the Vice-president of the Republic, Jaime Morales Carazo, American investors of the textilero group Cone Denim were satisfied by the guarantees the investment offered by the Government.

Joe Gorga, president of Cone Denim, a division of the company International Textil Group (ITG), assured that they continue with his plans of investment for this year, “the answer (of the government) has been positive, we have received confirmation of the new administration in the agreements reached with the previous government, as well as the incentives that made come to invest us”.

He described as “normal” the preoccupations of the industralists and investors deprived before any change of government, anywhere of the world.

Matt Hyne, vice-president of Operations of Cone Denim, assured that the entrance in operations of the new industrial park, that is constructed in the municipality Sandino City, will become as of March of the 2008.

Once in operations it will generate 800 uses direct and it is hoped to produce 30 million linear yards of fabric to the year, emphasized Hyne.

In this aspect, the president of the company, Joe Gorga, assured that the turn of the company is the manufacture of mezclilla, a used heavy fabric for the manufacture of jeans.

It assured that its main market will be to supply Central America, because “the intention is that most of the production remains in Central America for the cut and assembles”.

It added that to date they have invested a total of 13 million dollars. Of them three million in the place of the construction and other nine million in machineries of the project, which “quantifies the confidence of the project in the country”, said.

CARAZO PAWNS WORD

On the other hand the Vice-president of the Republic, Jaime Morales Carazo, gave all the endorsement from the Government to the textilero project. He assured that these investments are important within the framework of the Free Trade Agreement between Central America and Dominican Republic with the United States (Dr-Cafta), “which we supported totally”, he said.

The viceagent chief executive reiterated the commitment to support to the foreign investment as a form to generate uses.

Alvaro Baltodano, executive secretary of the Corporation of Zonas Francas (CZF), emphasized the confidence of this group of investors, to who another group of Taiwanese investors has been united him who are thinking about investing about one hundred million dollars.

In this sense, Baltodano assured that these investors are developing the corresponding studies to formalize the investment in the country.

It added that also other projects exist, although did not mention names, that they look for to make investments in the hydroelectric sector, also on the part of industralists of the republic of China Taiwan.