A Special Economic Zone (SEZ) is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone.
The category SEZ covers, including free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE), free ports, free economic zones, urban enterprise zones and others.
Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC), development of infrastructure and to increase the employment.
Read more about Special Economic Zone: Bangladesh, Cayman Islands, China, Democratic Republic of The Congo, Greece, Egypt, Ethiopia, India, Iran, Kazakhstan, Malaysia, Mauritius, Myanmar, Nigeria, North Korea, Pakistan, Philippines, Poland, Republic of Korea (South Korea), Russia, Ukraine, Uzbekistan, Zambia
Famous quotes containing the words special, economic and/or zone:
“We agree fully that the mother and unborn child demand special consideration. But so does the soldier and the man maimed in industry. Industrial conditions that are suitable for a stalwart, young, unmarried woman are certainly not equally suitable to the pregnant woman or the mother of young children. Yet “welfare” laws apply to all women alike. Such blanket legislation is as absurd as fixing industrial conditions for men on a basis of their all being wounded soldiers would be.”
—National Woman’s Party, quoted in Everyone Was Brave. As, ch. 8, by William L. O’Neill (1969)
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
—Ernest Hemingway (1899–1961)
“In the zone of perdition where my youth went as if to complete its education, one would have said that the portents of an imminent collapse of the whole edifice of civilization had made an appointment.”
—Guy Debord (b. 1931)