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Special Economic Zone as per Central Sales Tax, 1956 --> A Special Economic Zone (SEZ) is a geographically bound zone where the economic laws relating to export and import are more liberal as compared to other parts of the country. These are like a separate island within the territory of India.
See also: List of special economic zones and List of free-trade zones In special economic zones business and trades laws differ from the rest of the country. The term, and a number of other terms, can have different specific meanings in different countries and publications. Often they have relaxed jurisdiction of customs or related national regulations. They can be ports or other large areas ...
The definition of an SEZ is determined individually by each country. According to the World Bank in 2008, the modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and ...
Cochin Special Economic Zone is a Special Economic Zone in Cochin, in the State of Kerala in southwest India, set up for export- oriented ventures. The Special Economic Zone is a foreign territory within India with special rules for facilitating foreign direct investment. The Zone is run directly by the Government of India.
Public Authority for Special Economic Zones and Free Zones; Q. Qeshm Island; Qualifying industrial zone; R. Rason Special Economic Zone; S. Sama Jaya Free Industrial ...
Free-trade zones have more recently been also called special economic zones in some countries. Special economic zones (SEZs) have been established in many countries as testing grounds for the implementation of liberal market economy principles. SEZs are viewed as instruments to enhance the acceptability and the credibility of the transformation ...
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.
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 .