SEZ — SPECIAL ECONOMIC ZONE
# What is SEZ???
SEZ is an abbreviation of Special Economic Zone and refers to a development of geo-economic condition of a country. SEZ is a dedicated geographical area enjoying more trade liberty and lesser or a few governance that otherwise would have been applicable under a country’s typical economic and trade laws.
Infact SEZ covers a broad range which can be sub categorized into more zones:-
i. FTZ -- FREE TRADE ZONE
ii. EPZ--- EXPORT PROCESSING ZONE
iii. FZ --- FREE ZONE
iv. IE --- INDUSTRIAL ESTATES
Apart from these, there are Free ports, Urban Enterprise Zones and other categories.
SEZ has a concept to allow ventures often private or joint ventures of government and private collaboration to improve domestic production Increasing national output, creating favorable environment for FDI and to be more competitive in world market.
Infact the laws are liberalized inclined more to waiving off taxes and duties and more friendly towards production and development.
Thanks
Pamela
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