Geographical region in which business and trade laws are different from the rest of the country
"SEZ" redirects here. For the airport, see Seychelles International Airport.
Not to be confused with Exclusive economic zone.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI).[1][2] The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive.[1][3] In some countries, the zones have been criticized for being little more than labor camps, with workers denied fundamental labor rights.[4]
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^Watson, Peggy (23 July 2012). "Sackings expose the harsh reality of Poland's junk jobs". The Guardian.
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