The mining industry is the backbone of the Australian economy paying the highest average wages and contributing billions in taxes and royalties each year. The industry continues to pay the highest on average wages, the most company tax, delivers the most export revenue and was critical to supporting regions and communities, including providing 1.1 million jobs in the mining, mining equipment, technology and services sector.
Read more
World Free Zones Organization News
Link to current newsletter.
Read moreTECH HUBS Africa: Can studying China’s first SEZ give insight into the continent’s economic recovery?
A remarkable example that benefited from the first high-tech fair was Tencent, China’s Internet giant headquartered in Shenzhen. In an in-person interview with Tencent’s Founder, Ma Huateng, and the company’s key management on 2 August 2019, Mr Ma shared with me and my research team that the “high-tech fair in 1999 helped make Shenzhen known to the outside world as a city developing in the technology direction. Tencent searched for funding opportunities at the first high-tech fair and attracted the interest of IDG Ventures China and PCCW.” Shenzhen’s developmental success as China’s first SEZ demonstrates one SEZ success ingredient: Shenzhen local government officials were seen as that city’s entrepreneurial pioneers.
Read moreSTZA hopes for incentives from new government
The visiting delegates were briefed about Special Technology Zones being developed by STZA across Pakistan and the special fiscal and monetary incentives, including but not limited to 10-year tax and duty holiday, and support being offered to domestic and foreign tech companies in the Special Tech Zones. “If companies such as Google enter Pakistan with a range of products, then startups would take further boost in the country. Moreover, jobs would also be created,” Hashmi added.
Read moreAn 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.
Read moreWorld Free Zones Organization News
Link to current newsletter.
Read moreWorld Free Zones Organization News
Link to current newsletter.
Read moreBHP ships direct to Pilbara
BHP has been trialling direct shipping to Port Hedland since 2020 and will now ship 7.5 per cent of the containerised supplies it receives into its Western Australian Iron Ore (WAIO) operations from all over the world through Singapore, directly to Port Hedland. “This initiative not only improves efficiency, it also improves safety and environmental outcomes, thereby benefiting the whole community,” Dunham said.“PPA is proud of the work it has done to make direct shipping possible and has already trebled its first port of entry facilities to accommodate growing demand,” Johnston said. “The service is generating more inbound and outbound freight opportunities, which in turn creates local opportunities for container de-stuffing, warehousing, and distribution.
Read moreWorld Free Zones Organization January 2022 Newsletter
Link to current Newsletter.
Read moreWorld Free Zones Organization November 2021 newsletter
The World Free Zones Organization (World FZO) is a global not-for-profit organization that provides one authoritative, collective voice representing the interests of free zones around the world. The World FZO was launched in Dubai, UAE, in May 2014, by its 14 founding members and under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai. Registered in Geneva and headquartered in Dubai, the World FZO is the only truly international, multi-lateral organization for zones in the world today.
Read more