Special Economic Zone Act No. 16 of 16 May 2014 adopted.
19 May 2014
The new Act provides for the designation, promotion, development, operation and management of SEZs; the establishment of the SEZ Advisory Board; the establishment of the SEZ Fund; the regulation of application, issuing, suspension, withdrawal and transfer of SEZ operator permits; and the functions of SEZ operators.
The objectives of the Act are to determine SEZ Policy and Strategy; establish an SEZ Advisory Board and SEZ Fund; ensure proper designation, operation, promotion, development and management of SEZs; enact regulatory measures and incentives for SEZs in order to attract domestic investment as well as FDI; and establish a one-stop-shop to deliver government services within the zone.
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Type:
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Promotion and facilitation (Special economic zones)
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Industry:
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