In this issue, we introduce the Special Economic Zones Authority Act 2019 summarising the key administrative features and notable incentives under the Act.
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Mohammed bin Rashid issues Law creating Dubai Integrated Economic Zones Authority
The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness. The private sector is a major partner in our development journey over the next 50 years and the government continues to explore innovative initiatives to support their growth and success. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce.
Read moreVale and Asian miner seek Brazil nod to fast-track mine project
Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.
Read morePNG Government Grants Special Economic Zone status to Central Cement and Lime Project
Managing Director Paul Mulder said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for
Bougainville Affairs & Defence, Hon. James Marape, in the establishment of this SEZ, as it sets the right conditions for
large scale investment to thrive and catalyse down-stream processing in the SEZ that will particularly benefit the
people and the manufacturing industry in PNG.”
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.
Read moreReform overhaul to put rocket under productivity
With the country already experiencing a peak in major projects, Infrastructure Australia chief of policy and research Peter Colacino said the industry needed to reform in order to meet the looming pipeline of projects. “The industry can’t deliver the scope of work unless it adopts the change,” he said. “We’ve pointed to things that are proven, have delivered productivity gains elsewhere, are well evidenced in terms of what we’re putting forward. These aren’t unproven solutions.”
Read moreExpanding Your Business into Asia: Why Location Analysis is Key
This is another example of how Special Economic Zones in China are being ( and have been since 1978!) presented as locations for FDI. Australia is becoming less and less competitive. These policies can be simply introduced in Northern Australia and across Australia.
Read moreUnilever 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.
Read morePreferential Zones and Investment Hubs in China’s Greater Bay Area
The GBA Outline Development Plan emphasizes the need to continue to build a first-class business environment which is stable, fair, transparent, and predictable. The challenge is not only to encourage advancements to the business environment, but also to coordinate these efforts between three different legal systems, economic structures, and currencies.
Read moreLatest World Free Zones Organization News
Newsletter courtesy of World Free Zones Organization
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