Special Economic Zones
What is a Special Economic Zone
A Special Economic Zone is a geographical area that has different economic regulations and administration than the country within. There exist around 4,300 SEZ worldwide that employs about 68 million people.
Through taxation incentives, these zones highly attract foreign investment, technological advancement and allow rapid national, regional and local economic growth. Individuals and businesses that decide to implement their operations on SEZ are offered direct financial benefits such as lower duties, taxes, and repatriation of profits.
SEZ also provides dedicated regulatory authority and framework based on international standards and transparency. Furthermore, these areas have their own infrastructures and residential operations.
Special Economic Zones are a powerful way for organizations to develop their business and contribute to the local economy.