List of special economic zones
[1][2] Currently identified areas for SEZs are: Democratic Republic of the Congo planned to build its first Special Economic Zone in the Kinshasa district of N'Sélé.
[5][7] Kenya Two Rivers International Finance & Innovation Centre (TRIFIC) is the first and only business services- focused Special Economic Zone (SEZ) in Kenya, offering new and exciting prospects for global, African, regional and Kenyan service-oriented enterprises and investment-focused entities seeking a next-frontier gateway base to competitively access regional and international markets.
The goal is to enable stable legal structures, physical environment, human rights, and taxation in order to encourage investment, migration, and economic development.
The first of Jamaica's special economic zones was created in 1976 with the goal of industrializing the country, as well as increasing foreign exchange and access to technology.
Private companies were invited to occupy the warehouses, but the government at that time, The People's National Party, remained tentative of relying on foreign capital as a means of industrializing.
[18]: 50 With the shift to the Seaga government in the 1980s, export led industrialization became key to Jamaica's economic development, and more effort was put into attracting foreign enterprises to the zone.
[16]: 184 [18]: 51 The factories were primarily occupied by foreign enterprises, and produced apparel items, fish products, fruit juice concentrates and animal feed.
[16]: 183 The zones operated as separate entities that were not technically part of Jamaica, which allowed companies to bypass local import and exchange controls.
[16]: 183–184 Any remaining local labour controls were of little concern to foreign companies, since Jamaican workers were typically excluded from all steps except for manufacturing.
[19] The Seaga government argued that despite this lack of success in industrializing the country, the zones were effective in providing much-needed employment for the locals.
[19] This lack of unionization also meant that many enterprises were not forced to comply with the Factory Act: Occupational issues that arose from poor working conditions, such as overheating, carpel tunnel syndrome, strained eyesight, or back problems, went unnoticed.
[19] This not only took jobs from the locals, one of the key goals behind creating the special economic zones, but also had deleterious effects on future movements to unionize the factories.
The creation of the North American Free Trade Agreement (NAFTA) in 1994 had significant impacts on the SEZs of Jamaica and can be seen as one of the main reasons for the closure of the Kingston site.
[20] NAFTA gave its members (Canada, the United States and Mexico) similar trade privileges amongst each other that foreign countries received in Jamaica.
[17] In response to the closure, the Jamaican government tried to promote export-oriented work like data processing and call centers, but neither venture was very successful and few jobs were created.
[21] In May, 2016, President Enrique Peña Nieto signed a new law for the creation of special economic zones to attract investment into certain southern states of the country.
[22] According to Vázquez Tercero & Zepeda, the Mexican Special Economic Zones regime will provide tax benefits, customs, and business facilitation measures, and possibly financial support to investors.
Moreover, the federal government, in coordination with State and local authorities, will also implement parallel policies in the region, such as education, security, health, and infrastructure, in order to boost the competitiveness of the geographic location as well as to attract investment.
BEZA aims to establish SEZs in all potential areas in Bangladesh including underdeveloped regions with a view to encouraging rapid economic development through increase and diversification of industry, employment, production and export.
The following Eight EPZs are in operation: BEPZA is currently working on Mirsharai Economic Zone project to expand the opportunities for the investors to invest and create employment in a business-friendly environment.
In order to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.
The bill came into effect on 10 February 2006, providing for drastic simplification of procedures and for single window clearance on matters relating to central as well as state governments.
Within SEZs, a unit may be set-up for the manufacture of goods and other activities including processing, assembling, trading, repairing, reconditioning, making of gold/silver, platinum jewellery etc.
According to SOAS's Hassan Hakimian, "the FTZs are more ambitious in their objective of acting as magnets for the attraction of Foreign Direct Investment (FDI) and ultimately for generating a diversified industrial base and promoting Iran's non-oil exports, the SEZ are conceived for goods transit and improving the supply and distribution networks in the country.
[35] According to the country's Special Economic Zone Law's[36] Act 7, Section 36, homes and farming properties located on a proposed SEZ must be duly relocated and reimbursed.
[39] The industries inside the Special Economic Zones are given various facilities and in return they have to commit to export a minimum of 60% of their production to the foreign market.
In 2013 and 2014 a number of smaller special economic zones were announced covering export handling, mineral processing, high technology, gaming and tourism.
Companies in target industries will receive an eight-year tax exemption; import duty exemptions on machinery and raw materials; double deductions on transportation costs; cheap electricity and water for 10 years; a 25 percent deduction for facilities construction; faster licensing and permit issuance; improved infrastructure and customs services within the SEZ, and other non-tax incentives.
Rezekne Special Economic Zone in Baltics with crossroads of transport corridors in Latvia with direct access to international markets with more than 500 million consumers in the EU, Russia and CIS countries.
Is run and controlled by the Consorcio de la Zona Especial Canaria, an agency of the Ministry of Finance and Public Service of the Government of Spain.
