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Although the enabling act came into effect in 1992, the pioneer Free Zone (the Calabar Free Trade Zone) was not fully completed until 1999, and commenced operation after official commissioning in November 2001. Since then, the Free Zones Scheme has been used as a vehicle for industrial and commercial development of the country.
Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity .
Agro-Industrial Economic Zones in the Philippines Name Location Developer/Operator Region Area (Hectares) Agrotex Gensan Economic Zone "Barrio Tambler, General Santos" "Agrotex Commodities, Inc." R-XII: 11 AJMR Agro-Industrial Economic Zone "AJMR Port Complex, Km. 20 Tibungco, Davao City" AJMR Port Services Corporation: R-XI: 8.96
Magnet sites are usually industrial parks or multi-tenant sites within a grantee's service area, which have already been designated by the Foreign-Trade Zone Board. Once a company that's established in said industrial park wants to operate as an FTZ, it must only go through the designation process with the help of the grantee and local customs.
A free zone authority is a designated economic area governed by its own set of regulations, which differ from those applicable to businesses outside the zone. Companies operating within free zones are typically non-customer-facing businesses, such as those involved in import/export, online operations, and other business activities that do not ...
Navoi Free Industrial Economic Zone - The Navoi Free Industrial Economic Zone was created on December 2, 2008 in the Navoi region of the Republic of Uzbekistan to attract foreign investment. [60] Jizzakh high-tech industrial park - Uzbekistan and China are working together to jointly establish a SEZ in the central Uzbek city Jizzakh. This high ...
Quasi-industrial Designated for light industrial and service facilities. Same permitted uses as Commercial zone with addition of factories with some possible danger of environmental degradation. Industrial zone Designated for factories. Residences and shopping can be constructed but schools, hospitals and hotels are impermissible
The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.