Economic Development Zones

What is an economic development zone?
Economic development zone or special economic zone is a geographical region that implements an economic law that is more liberal than the typical economic laws implemented by the country where the zone is located. This economic zone is generally aimed at increasing investment, particularly foreign investment, in the host country.

Economic Development Zone

For investors and companies looking to put up a business or an industrial facility in foreign countries, one of the best places to start the expansion is the economic development zone. This is because taxation laws in such regions are generally favourable for investors. Moreover, exports and imports of capital goods, consumable, raw materials, etc. are exempted from tariff, customs duty and strict license requirements.