The economy of Mauritius is a mixed developing economy based on agriculture, exports, financial services, and tourism. Since the 1980s, the government of Mauritius has sought to diversify the country's economy beyond its dependence on just agriculture, particularly sugar production.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade.
An industrial park, also known as industrial estate or trading estate, is an area zoned and planned for the purpose of industrial development. An industrial park can be thought of as a more heavyweight version of a business park or office park, which has offices and light industry, rather than heavy industry. Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours.
A foreign direct investment (FDI) refers to purchase of an asset in another country, such that it gives direct control to the purchaser over the asset. In other words, it is an investment in the form of a controlling ownership in a business, in real estate or in productive assets such as factories in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment or foreign indirect investment by a notion of direct control.
Weihai, formerly Weihaiwei, is a prefecture-level city and major seaport city in easternmost Shandong province of China. It borders Yantai to the west and the Yellow Sea to the east, and is the closest Chinese city to South Korea.
In justifying opening up and the series of economic reforms that ensued in China, Deng Xiaoping referred to Karl Marx and his theories, which predicted that nations need to undergo urbanization and a stage of capitalism for a natural socialist transition. One of the most renowned reforms under Deng was establishing four "special economic zones" along the Southeastern coast of China, with Shenzhen, Shantou, and Zhuhai located in Guangdong province and Xiamen located in Fujian province. The four aforementioned special economic zones were all established from 1980 to 1981. As of 2024, there have been 3 additional special economic zones. In 1988, Hainan became the fifth "SEZ". In 1990, Pudong district in Shanghai became the sixth "SEZ". In 2009, Binhai district in Tianjin became the seventh "SEZ". Special economic zones (SEZs) in mainland China are granted more free market-oriented economic policies and flexible governmental measures by the government of China, compared to the planned economy elsewhere.
The Bangladesh Export Processing Zones Authority (BEPZA) is an agency of the Government of Bangladesh and is administered under the jurisdiction of the Prime Minister's Office. Its objective is to manage the various export processing zones in Bangladesh. BEPZA currently oversees the operations of eight export processing zones (EPZ). A ninth zone is scheduled to open in the future. Recently government has announced that in 15 years 100 new EPZ and SEZ will be established. Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc is the current Executive Chairman of BEPZA. The Government provides numerous incentives for investors for opening factories in EPZs. For example, new factories enjoy tax holidays for 5 years. Also, labour unions and other activities that are often viewed detrimental to productivity, are banned inside the EPZs. In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an 'Open Door Policy' to attract foreign investment to Bangladesh. The BEPZA is the official organ of the government to promote, attract and facilitate foreign investment in the EPZs. Besides, BEPZA as the competent Authority performs inspection & supervision of the compliances of the enterprises related to social & environmental issues, safety & security at work place in order to maintain harmonious labour-management & industrial relations in EPZs. The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate free from cumbersome procedures. Bangladesh's export revenue in FY23 is $55.55 billion, the highest amount ever.
The Incheon Free Economic Zone (IFEZ), located in Incheon, South Korea is a Korean Free Economic Zone that consists of the three regions of Songdo, Cheongna, and the island of Yeongjong and has a total area of 51,739 acres (209.38 km2). The goal of the IFEZ is to transform these three areas into hubs for logistics, international business, leisure, and tourism for the Northeast Asian region. Incheon's Free Economic Zone was officially designated by the Korean government in August 2003. IFEZ is planned to be a self-contained living and business district featuring air and sea transportation, a logistics complex, an international business center, financial services, residences, schools and hospitals, and shopping and entertainment centres.
Klaipėda Free Economic Zone or Klaipėda FEZ is the first free economic zone in the Baltics. It was established in 1996, officially launched in 2002.
Immigration to the People's Republic of China is the international movement of non-Chinese nationals in order to reside permanently in the country.
Sughd free economic zone is an industrial-innovative type, which was established in 2009 according to the Decree of the Government of the Republic of Tajikistan dated May 2, 2008.
The Korea–Australia Free Trade Agreement (KAFTA) is a bilateral agreement seeking to reduce trade and investment barriers between Australia and South Korea. The agreement, which came into effect on the 12th of December 2014 provides Australian goods exporters, service providers and investors with significantly improved access to the South Korean market. The trade agreement stems from decades of bilateral relations, encompassing security, trade and diplomatic ties from 1962, when then President Park Chung-Hee introduced a series of five-year plans designed to spur globalisation efforts and industrial development in Korea following the end of the Korean War.
Special Economic Zones of Cambodia are geographical areas within Cambodia's borders that have been specially designated by the national government in which business and trade regulations differ from those that apply to the rest of the country. Special economic zones, in general, are common in various economies around the world and are established to meet the needs of the specific business environment of each host country, ranging from encouraging foreign investment to job creation to streamlined administration of multinational ventures.
Adamjee Export Processing Zone also known as Narayanganj EPZ is a special economic zone for producing export oriented products located in the industrial city of Siddhirganj, Bangladesh. Established in 2006, it has 245 acres of land with 229 industrial establishments. It is the 6th-largest special economic zone in Bangladesh
The Ministry of SMEs and Startups is a ministry of the Republic of Korea, established in July 2017 by the Moon Jae-in government. It succeeds the former Small and Medium Business Administration. The headquarters are located in Sejong City, Sejong. As of February 2021, Lee Young, a member of the National Assembly and People Power Party, has been appointed as the South Korean Minister of SMEs and Startups.
The Korean East Coast Free Economic Zone or East Coast FEZ is a 4.47 km2 economic zone on development, located in the Gangwon-do's East Coast area into the center of the Pan-East Coast economic belt. The FEZ is focused on advanced green materials industries, global tourism, and leisure industries.
