Dr Matthew Stephenson, CEO of the World Free Zones Organization (WFZO), has highlighted the transformative role of economic zones in attracting investment, fostering innovation, and driving sustainable economic growth.
He spoke at the Americas Investment Forum, held from 1–3 July 2026 in Santo Domingo, Dominican Republic.
Addressing government officials, investment promotion agencies, business leaders, and economic zone representatives, he introduced a simple yet memorable message:
“Every time you hear the word ‘investment,’ think of the word ‘zone.'” Dr. Stephenson began by introducing the World Free Zones Organization as the global platform for cooperation among free zones, economic zones, industrial parks, governments, businesses, and civil society. Today, WFZO’s network spans more than 1,600 members across 136 countries, supported by 12 regional offices, working together to advance knowledge, investment facilitation, policy dialogue, networking, and practical support for economic zones worldwide.
Reflecting on the evolution of economic zones, Dr. Stephenson traced their origins from the ancient free port of Delos in 166 BC to the establishment of the Shannon Free Zone in Ireland in 1959—the world’s first modern export processing zone.
What began as a pioneering concept has evolved into a global economic model. Today, there are more than 7,000 economic zones worldwide, supporting over 80 million direct jobs, facilitating approximately 30% of global trade, and attracting hundreds of billions of dollars in foreign direct investment each year.
Turning his attention to the Americas, Dr. Stephenson highlighted the region’s remarkable achievements and praised the Dominican Republic as one of the world’s leading examples of long-term success through economic zones.
With more than 80 economic zones supporting over 200,000 direct jobs, the country has demonstrated how a sustained commitment to the zone model can transform an economy. Across Latin America, more than 700 free zones generate over one million jobs, positioning the region to capitalise on growing nearshoring opportunities.
Read more
