World Free Zones Organization News

Includes video referencing how the creation of special economic zones are strategic are in expanding the economy.

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World Free Zones Organization News

Link to current newsletter.

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An Insight Into SEZs

Special Economic Zones (SEZs) were established in many countries as testing grounds for the implementation of liberal market economy principles. While viewed as economic policy tools for enhancing the acceptability and credibility of industrial transformation policies, attracting domestic and foreign investment and also for the opening up of the economy, SEZs also seek to promote the value addition component in exports, generate employment, encourage import substitution as well as mobilise foreign exchange in the countries for Balance of Payments support.

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UAE Corporate Tax law will continue incentives for free zone based entities

The UAE Ministry of Finance (MoF) has released a public consultation document inviting comments from stakeholders on the proposed legislation. A progressive step by the Ministry, which provides an opportunity for businesses to play a key role in formulating the UAE Corporate Tax law.

While there is no tax on individual income, income from activities carried out by individuals through a commercial license would attract the tax. Further, federal and emirate governments, their departments, and companies carrying out sovereign activities, companies engaged in the extraction of natural resources, charities, pension funds, investment funds (subject to conditions) would be exempt.

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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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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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$10bn aid pool to cut premiums in north

“To underwrite it, you’re going to talk about billions because you need the comfort of that behind you. If we do this right, there’s no reason we can’t expand it into bushfire areas and flood areas.”

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Latest World Free Zones Organization News

Newsletter courtesy of World Free Zones Organization

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China dangles $39bn carrot to build city on our doorstep

Article by Ben Packham courtesy of the Australian A Chinese company says it wants to build a new $39bn city with a major seaport, industrial area and free-trade zone on Papua New […]

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World Urban Forum event on urbanization and SEZs

11 February 202011:45 – 13:15 hrs. , Abu Dhabi Exhibition CenterAbu Dhabi, United Arab Emirates https://unctad.org/node/3987 The UNCTAD link as above. UNCTAD is organizing an event during the 10th World Urban Forum, […]

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