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Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services.
Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
EEZs in the Atlantic and Indian Oceans. Sri Lanka is ranked 51st in size of its exclusive economic zone (EEZ) with a total size of 532,619 km 2 (205,645 sq mi). [1] Sri Lanka's EEZ is bordered to the north and west by India in the Gulf of Mannar and Bay of Bengal; as well as in the west by the Maldives in Laccadive Sea.
Hulu Klang Free Trade Zone (Statchippac, Texas Instrument) Kulim Hi-Tech Park, Kedah; Melaka Batu Berendam Free Trade Zone (Texas Instrument, Dominant Semiconductor, Panasonic) Pasir Gudang Free Trade Zone, Johor; Port Klang Free Zone, Klang, Selangor; Sungai Way Free Trade Zone (Western Digital, Free Scale, etc.)
The weight of expectations also revolved around the importance on uplifting the spirits of the aspiring entrepreneurs by providing them fair and equal opportunities under the Enterprise Sri Lanka initiative. [4] [5] The Enterprise Sri Lanka initiative was took over by the Ministry of Finance who oversaw the proceedings regarding the handling of ...
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 .
Established in 1978, Katunayake is Sri Lanka's first EPZ, located near the international airport, and is a key zone for garment manufacturing and other exports. [8] Koggala EPZ: Galle District: This EPZ, established in 1991, focuses on industries such as garments and manufacturing, located in Southern Sri Lanka. [9] Malwatta EPZ: Gampaha District
It is the site of Bandaranaike International Airport, the primary international air gateway to Sri Lanka. With the change of government in 1977 and the introduction of the open economy policy a large area was allocated to create a free trade zone (currently known as the Export Promotion Zone).