How Special Economic Zones are Reshaping the World Economy

SEZs are business parks granted legal autonomy to improve their governance. Companies operating within SEZs enjoy unique tax breaks, streamlined government regulations, special VISA rights and different labor laws. This enables businesses to operate in emerging markets without the usual problems that businesses in the developed world face. SEZs have also rehabilitated traditionally bad investment destinations, creating bastions of economic growth in unlikely locations. The most well-known case studies of this come from China.

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Infrastructure key to regional boom

The report says improving regional connectivity is critical to unlocking additional growth and backs a staged investment in transport infrastructure aimed at supporting economic diversification and sustainable population growth. It says this strengthens the case for modern, fast rail improvements. Mass movements of people from cities to towns such as Margaret River in Western Australia and Orange in NSW – both as holiday destinations and places of residence – had sparked huge demand for housing and services. The report says a more coordinated infrastructure policy would meet specific needs by drawing on each region’s competitive advantage, facilitate growth and encourage a better balancing of population growth between cities and regions.

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Taking the big smoke to the bush

“Not by a decentralisation policy where we shift public servants from government agencies out into country towns. But where we flip that model, identify the unique competitive advantage of the region, and use that to attract people … but also businesses who are keen to relocate if we get the infrastructure piece right.”

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Approvals reform can protect natural assets & boost economy

The Minerals Council of Australia estimates that the EPBC process can cost companies developing greenfield resource projects up to $47 million every month. Professor Samuel recommended the job-destroying duplication should be addressed by improving, strengthening, and streamlining the capacity of the Federal Government to delegate approval functions to State governments.
It’s time to get on with reforms to better protect natural assets and deliver a needed boost for our economy.

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McGowan backs PM over red tape Bills

Mr McGowan said his government had called for proposed changes 18 months ago.
“We support this legislation and WA continues to work with the Commonwealth to progress a bilateral agreement for approvals which will maintain environmental standards and reduce red tape,” he said.
“Since (originally calling for the changes) the State has been implementing initiatives to remove red tape while retaining the highest environmental standards for all applicants.”

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Unilever to invest $175.4 mln in Indonesian special economic zone

The fast-moving consumer goods giant plans to expand its oleochemical factory, which can hire 600 new workers directly and potentially create 6,000 new jobs “indirectly”, Arif Hudaya, finance director at PT Unilever Indonesia, said in a statement.

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Infrastructure project delays risk derailing economic growth

“The drought, the bushfires, the extreme weather events have really highlighted the importance of taking those shocks and stresses into our decision making right at the planning phase,” Ms Madew said.

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Rural communities bedrock of recovery

The resilience of regional and rural communities is the hallmark of the Australian spirit and the bedrock on which our economic recovery is being built. More than 9.5 million Australians call regional Australia home. And when we look at what has helped drive our bounce back it is the resources sector, the agricultural sector and tourism in regional and rural Australia.

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Regions drive broader economy

“If we don’t get it right we’re not going to go anywhere, because regional Australia is actually the engine that drives the broader economy,” he said.

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New figures show mining sector powering the economy

“These changes will transform the NAIF to make it a more proactive investor in projects that will generate economic activity and job creation,”

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