Free economic zone
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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. The taxation rules are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones.
Some special economic zones are called free ports. Sometimes they have historically been endowed with favorable customs regulations such as the free port of Trieste. In recent years the free port system has been accused of facilitating international art crime, allowing stolen artworks to remain undetected in storage for decades.[1]
Definition
According to the 1999 Revised Kyoto Convention, a "'free zone' means a part of the territory of a contracting party where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as being outside the customs territory."[2]
History
An early type of special economic zone was free ports, these historically were endowed with favorable customs regulations such as the free port of Trieste. In modern times free port has come to mean a specific type of special economic zone, for example LADOL.
List of free economic zones by country
Bangladesh Export Processing Zone Authority
- Port Said Public Free Zone
- Alexandria Public Free Zone
- Nasr City Public Free Zone
- Suez Public Free Zone
- Ismailia Public Free Zone
- Damietta Public Free Zone
- Media Public Free Zone
- Shebin El- Kom Public Free Zone
- Qeft Public Free Zone
- Port Said East Port Public Free Zone
- Tema, Free Zone Enclave
- Sricity Multi Product SEZ, Andhra Pradesh[7]
- SEEPZ, India
- MARG Swarnabhoomi SEZs for Engineering and Multi Services, Tamil Nadu[8]
- Inspira Pharma & Renewable Energy Park, Aurangabad, Maharashtra[9]
- Kish
- Aras Free Zone
- Anzali Free Zone
- Arvand Free Zone
- Chabahar Free Zone
- Gheshm Free Zone
- Maku Free Zone
- Imam Khomeini Airport City Free Zone
- Erice
- Gela
- Crotone
- Rossano
- Lamezia Terme
- Matera
- Taranto
- Lecce
- Andria
- Naples
- Torre Annunziata
- Mondragone
- Campobasso
- Velletri
- Sora
- Pescara
- Massa Carrara
- Ventimiglia
- Korean Free Economic Zones[11]
- Busan-Jinhae Free Economic Zone[12]
- Daegu-Gyeongbuk Free Economic Zone[13]
- Gwangyang Bay Area Free Economic Zone[14]
- Incheon Free Economic Zone[15]
- Yellow Sea Free Economic Zone[16]
- Saemanguem-Gunsan Free Economic Zone[17]
- East Coast Free Economic Zone[18]
- Chungbuk Free Economic Zone[19]
- Liepāja Special Economic Zone[20]
- Rēzekne Special Economic Zone[21]
- Rīga Freeport Economic Zone[22]
- Ventspils High Technology Park[23]
- Marijampolė Free Economic Zone[24]
- Kaunas Free Economic Zone
- Klaipėda Free Economic Zone[25]
- Panevėžys Free Economic Zone[26]
- Free Economic Zone Skopje 1[28]
- Free Economic Zone Skopje 2[28]
- Free Economic Zone Stip[28]
- Free Economic Zone Tetovo[28]
- Port Klang Free Zone
- Entrepreneurship Free Zone Expo-Business-Chişinău
- Entrepreneurship Free Zone "Tvardiţa"
- Entrepreneurship Free Zone "Taraclia"
- Entrepreneurship Free Zone "Valkaneş"
- Entrepreneurship Free Zone "Otaci-Business"
- FEZ "Bălți"
- FEZ "Ungheni-Business"
- FEZ Aeroportul Liber Internaţional Mărculeşti
- FEZ International Free Port Giurgiulești
Export Processing Zone of Tangier[32]
Free Zones at Tanger Med Ksar el Majaz Mellousa 1 and 2
Free Zone in Dakhla and Laayoune
Free Storage Zone of hydrocarbons: Kebdana and Nador
Export Processing Zone in Kenitra
- Knowledge Oasis Muscat
- Sohar Port and Free Zone
- Salalah Free Zone
- Al-Mazunah Free Zone
- Special Economic Zone Duqm
- Subic Bay Freeport Zone - first Freeport in the Philippines
- Clark Freeport Zone
Qatar has free zones and Special Economic Zones with differing laws on taxation and corporate ownership
- Qatar Science & Technology Park
- Qatar Financial Centre
- Manateq Special Economic Zones [34]
- Ras Bufontas
- Um Alhoul
- Al Karaana
In Russia there are only Special Economic Zones
Technical/Innovational Zones
- Dubna
- Zelenograd (Moscow)
- Saint Petersburg
- Tomsk
Industrial/developmental Zones
Tourist Zones
- Krasnodar Krai
- Stavropol Krai
- Kaliningrad Oblast (Yantar, Kaliningrad Special Economic Zone)
- Altai Krai
- Altai Republic
- Irkutsk Oblast
- Buryatia
- Vladivostok
- Free Zone Pirot Slobodna zona Pirot[35]
- Sughd Free Economic Zone
- Panj Free Economic Zone
- Dangara Free Economic Zone
- Ishkoshim Free Economic Zone
- Mary-Baýramaly
- Okarem-Hazar
- Turkmenabat-Seidi
- Bakharden-Serdar
- Ashgabat-Annau
- Ashgabat-Bezmein
- Serakhs
- Guneshli
- Ashgabat International Airport
- Dashoguz Airport[36]
- Autonomous Republic of Crimea
- Quarantine Pier of Odessa trade sea port, January 1, 2000, for 25 years
- Ukraine and EU Free Trade Agreement [37]
- Ajman Free Zone
- Dubai Academic City
- Dubai Airport Free Zone
- Dubai Internet City
- Dubai Media City
- Dubai Multi Commodities Centre
- Dubai Knowledge Village
- Dubai Healthcare City
- Dubai International Financial Center
- Dubai Science Park
- Dubai Outsource Zone
- Dubai Silicon Oasis
- Dubai Studio City
- International Media and Production Zone
- Jebel Ali Free Zone[38]
- SAIF ZONE Sharjah
- twofour54 Abu Dhabi
- Fujairah Free Zone
- Fujairah Creative City
- Ras Al Khaimah Free Trade Zone
- Masdar City Free Zone Abu Dhabi
- London Docklands
- Bristol Suburbs
See also
- Bonded logistics park - another type of SEZ
- Free trade zone - another type of SEZ
- Four Asian Tigers
References
- ^ "Experts identify top six scandals amid boom in art crime" The Art Newspaper, 1 July 2015 [1]
- ^ Revised Kyoto Convention 1999.
- ^ "Technical And Economic Development Areas - Official website of TEDAs in Albania". Retrieved 12 May 2016.
- ^ "BIS ALBANIA GROUP". Retrieved 12 May 2016.
- ^ "ALTAX - LAW. TAX. TRANSPARENCY". 6 May 2016. Retrieved 12 May 2016.
- ^ "Zona Franca General Pico". Retrieved 12 May 2016.
- ^ "Integrated Business City - Sri City". Retrieved 12 May 2016.
- ^ Administrator. "MARG Swarnabhoomi smart city by MARG Group, a GRK Reddy Venture". Retrieved 12 May 2016.
- ^ http://www.inspirainfra.com
- ^ "Shannon Heritage Home". Retrieved 12 May 2016.
- ^ "Korean Free Economic Zones". Retrieved 12 May 2016.
- ^ http://eng.bjfez.net
- ^ http://www.dgfez.go.kr
- ^ 국문 사이트. "광양만권경제자유구역청". Retrieved 12 May 2016.
- ^ http://www.ifez.go.kr
- ^ "황해경제자유구역청". Retrieved 12 May 2016.
- ^ http://sgfez.go.kr/
- ^ http://www.efez.go.kr/
- ^ http://eng.cbfez.go.kr
- ^ "Home". Retrieved 12 May 2016.
- ^ "Stratēģiskais novietojums". Retrieved 12 May 2016.
- ^ "Freeport of Riga - Your Reliable Business Partner in the Baltic Sea!". Retrieved 12 May 2016.
- ^ "VATP". Retrieved 12 May 2016.
- ^ "Laisvoji ekonominė zona Baltic FEZ". Baltic FEZ. Retrieved 12 May 2016.
- ^ "Invest in Klaipėda, Lithuania - FEZ Klaipeda". Retrieved 12 May 2016.
- ^ "Panevėžio laisvoji ekonomine zona - LEZ Panevėžyje". Retrieved 12 May 2016.
- ^ "West Africa's High Value Industrial Free Zone and Logistics Hub". Retrieved 19 June 2016.
- ^ a b c d "Home". Retrieved 12 May 2016.
- ^ http://www.adb.org/sites/default/files/project-document/66546/36027-07-reg-tacr.pdf
- ^ https://investmongolia.wordpress.com/category/law-on-economic-zones/
- ^ https://investmongolia.wordpress.com/category/law-on-economic-zones/
- ^ "TMZ - Tanger Med Zones - TMSA". Retrieved 12 May 2016.
- ^ "ZOFRATACNA - Zona Franca de Tacna, Perú". Retrieved 12 May 2016.
- ^ "Special Economic Zones". Manateq. Archived from the original on 2016-04-06. Retrieved 2016-07-29.
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- ^ Rafis Abazov, Historical Dictionary Of Turkmenistan, p. 62, ISBN 978-0-8108-5362-1
- ^ "Ukraine and EU are ready to implement free trade agreement". 112.International. Retrieved August 18, 2015.
- ^ "JAFZA (Jebel Ali Free Zone)". Business-Dubai.com. Retrieved 23 November 2015.
- ^ a b c "Xây dựng 3 "đặc khu kinh tế" Vân Đồn, Bắc Vân Phong và Phú Quốc" (in Vietnamese). N.Mạnh. 7 December 2016. Retrieved 22 May 2017.
- ^ "adenfreezone.com - This website is for sale! - adenfreezone Resources and Information". Retrieved 12 May 2016.
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Bibliography
- "Specific Annex D: Customs Warehouses and Free Zones", International Convention on the Simplication and Harmonization of Customs Procedures (Revised Kyoto Convention), World Customs Organization, 1999
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