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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 ...
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.
A free-trade zone (FTZ) is a class of special economic zone. [ 1 ] [ 2 ] 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 .
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 .
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 ...
Clark, officially known as the Clark Freeport and Special Economic Zone (CFEZ) and Clark Development Corporation (CDC), [4] refers to an area in Central Luzon, Philippines. The CFEZ in Pampanga covers portions of the cities of Angeles and Mabalacat and portions of the town of Porac while parts of the area in Tarlac include portions of the towns ...
Special Economic Zones of Cambodia; Sri City; Suez Economic and Trade Cooperation Zone; Sughd Free Economic Zone; T. Tablas Economic Zone; Tangier Exportation Free Zone;