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Free zones are intended to foster economic activity and employment that could occur elsewhere. Export-processing zone. An export-processing zone (EPZ) is a specific type of FTZ usually set up in developing countries by their governments to promote industrial and commercial exports. According to the World Bank, "an export processing zone is an ...
Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
India was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. In order to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an ...
On November 20, 1972, the Bataan Export Processing Zone (BEPZ) became the first official economic zone in the Philippines through Presidential Decree 66 (which also created Export Processing Zone Authority (EPZA), later became Philippine Economic Zone Authority (PEZA)). The BEPZ was one of the most progressive communities in Luzon during its ...
The Philippine Economic Zone Authority (PEZA), formerly known as the Export Processing Zone Authority (EPZA), is a Philippine government agency attached to the Department of Trade and Industry, created to help promote investments in the export-oriented manufacturing industry into the country by assisting investors in registering and facilitating their business operations and providing tax ...
Website. afab .gov .ph. The Freeport Area of Bataan (FAB), formerly Bataan Export Processing Zone (BEPZ) and Bataan Economic Zone (BEZ) from June 21, 1969 to June 30, 2010, is a special economic zone in Mariveles, Bataan, Philippines. It was envisioned by Congressman Pablo Roman, Sr., a representative from Bataan, who authored Republic Act 5490 ...
A maquila in Mexico. A maquiladora ( Spanish: [makilaˈðoɾa] ), or maquila ( IPA: [maˈkila] ), is a word that refers to factories that are largely duty free and tariff-free. These factories take raw materials and assemble, manufacture, or process them and export the finished product.
Export processing zones. Below is the list of export processing zones run by BEPZA: Adamjee Export Processing Zone, Siddhirganj, Narayanganj; Chittagong Export Processing Zone, South Halishahar, Chittagong; Cumilla Export Processing Zone, Cumilla; Dhaka Export Processing Zone, Savar, Dhaka; Ishwardi Export Processing Zone, Ishwardi, Pabna