According to an article published by the American magazine “Medical Product Outsource (MPO”) entitled “Top 30 Medical Device Manufacturers,” the two largest manufacturers of medical equipment have direct manufacturing operations in the free zones of the Dominican Republic.
This article lists the 30 largest companies in the world in this sector, according to worldwide sales in 2016, reported Luisa Fernández Durán, executive director of the National Counsel for Special Free Zones (CNZFE), through the Communications Director of the Ministry for Industry, Commerce, and Mipymes (MICM).
Fernández Durán stated that the companies in the first and second positions on the list are Medtronic plc, with over 88,000 jobs worldwide and sales of US$ 28.8 billion; and Johnson & Johnson, with a worldwide payroll of 126,000 people and total sales of US$25.1 billion.
“Medtronic and Johnson & Johnson have been operating for over 10 years in the free zone regime of the Dominican Republic, which confirms the development and significant international position of our country in this industry of highly sophisticated technology. Besides these two companies, seven others on the list also have manufacturing operations in our free zones,” stated the Executive Director of CNZFE.
She explained that currently a total of 31 (thirty-one) companies in the Sub Sector of Medical and Pharmaceutical Products Manufacturing are operating under the free zone regime in our country, generating over 22,000 direct jobs, with an accumulated investment of US$995 million.
As a result of these investments, according to data from the Central Bank, in 2016 the free zones exported medical instruments for the value of US$1.4967 billion, which represents about 9.9% increase over 2015.
It’s also worth noting that, although the manufacturing of medical devices requires a high level of technology, the Dominican Republic has positioned itself as the third developing country with the highest export value of medical and surgical instruments in the world, after Mexico and China, respectively.