April 13, 2021 View in browser
LATEST FREE ZONES NEWS
Angola
Government Approves Creation of Barra Do Dande Free Trade Zone
The creation of a Free Trade Zone for the integrated development of Barra do Dande, in Bengo province, was approved Tuesday in Luanda by the Economic Commission of the Council of Ministers. The decision was adopted at the third ordinary meeting of the commission, chaired by the President of the Republic, João Lourenço. Learn more.
Bangladesh
Prime Minister offers economic zone, high-tech park for US investors
Describing Bangladesh as a promising destination for the US business and investment, Prime Minister Sheikh Hasina on Tuesday offered a special economic zone (EPZ) and a high-tech park to the American companies for their investments in a large scale. Learn more,
China
Beijing's 'Silicon Hutong' becomes a free-trade zone
Officials in Haidian District in the Chinese capital have issued a raft of policies aimed at boosting innovation in the area's IT sector; they aim to support research and development and enhance companies' level of internationalisation. Learn more.
Korea
Chungbuk Free Economic Zone Authority Signs an 82 billion won investment agreement
On March 3, Chungbuk Free Economic Zone (CBFEZ) Authority signed an investment agreement with PCM and AES to build their new plants in the Osong Bio-polis District. Under the agreement, PCM, a US-invested industrial refrigerant gas manufacturer headquartered in Boeun, Chungcheongbuk-do, will invest KRW 71 bn in the CBFEZ over the course of 10 years in constructing plants for manufacturing thin-film cooling devices and refrigerant gas cylinders. Learn more.
Malaysia
Melaka to reinstate its maritime hub and trade glory via M-WEZ
Melaka Chief Minister Datuk Sulaiman Md Ali says the state government expects between RM3 billion and RM4 billion or about five per cent in the state’s annual gross domestic product (GDP) to come from Melaka Waterfront Economic Zone (M-WEZ) by 2035. Pix by Mohamad Shahril Badri Saali. Learn more.
Nigeria
Lekki Free Zone: A Key Element in Nigeria’s Economic Revival and Sustenance
The much awaited epochal visit which took officials of Lekki Free Zone, Lagos Free Zone and Lekki Worldwide Investments led by the Chairman, Abiodun Dabiri, months of preparations and interfaces with officials of Lagos State; Dangote Refinery; and other institutional investors in the Zone, took off finally on March 19th, 2021. Learn more.
Sri Lanka
Colombo Port City welcomes Cabinet approval for ‘Special Economic Zone’
Port City investor company, CHEC Port City Colombo (Pvt) Ltd. welcomes the Government’s move to establish a Special Economic Zone and expects this initiative will bring more Foreign Direct Investments to Sri Lanka. The approval was granted at a cabinet meeting to establish the Colombo Port City Special Economic Zone which will be an International business and services hub with specialized infrastructure facilities. Learn more.
UAE
UAE’s special industrial zones vital incubators for innovation
The UAE is headed towards an exciting new phase of sustainable economic growth – one that is driven by an enhanced, technologically advanced and resilient industrial base. This is precisely the vision behind the recently launched comprehensive 10-year Industrial Strategy – known as Operation 300bn that aims to transform the industry into a vital enabler and contributor to national GDP. Learn more.
ARTICLES OF THE WEEK
Free Trade Zone Scheme: Model for Infrastructure Devolution
The periods when nations’ development indices, growth and viability were measured based on solid infrastructure are gone. The parameters shifted slightly to include income capita per head powered by both National Domestic Product (NDP) and Gross Domestic Product (GDP) respectively. Learn more.
Supply Chain Disruptions & Free Zone
Free zones are recognized by governments and policy makers as key drivers for cross-border trade and investment. Free zones foster growth of local SMEs and accelerate the development of clusters, attracting increased foreign investment and vice versa. Learn more.
Which companies have been the winners of the Covid-19 pandemic?
Many companies in the technology, communications, finance and healthcare sectors have seen a rise in revenues during the Covid-19 pandemic. Investment Monitor profiles the leaders. Learn more.
MEMBERS UPDATE
SMC LTD., doubles its operations in Coyol Free Zone
The global manufacturing company, SMC Ltd., once again has chosen Coyol Free Zone to double its operations in Costa Rica, extending manufacturing space to 120,000 square feet (more than 11,000 m²). Learn more.
Metro Atlanta Chamber’s John Woodward Appointed To GFTZ Board Of Directors
Georgia Foreign-Trade Zone (GFTZ) President and CEO Julie Brown welcomed John W. Woodward, Vice President for Global Commerce at the Metro Atlanta Chamber (MAC), to the GFTZ Board of Directors. Learn more.
By Order President Rouhani Inaugurated 61 Projects Of Free And Special Economic Zones In 6 Provinces
According to Public Relation of Qom Salafchegan Special Economic Zone, 61 projects of free trade-industrial and special economic zones were put into act and exploitation in the provinces of Hormozgan, Gilan, Bushehr, Qom, East and Central Azerbaijan. Learn more.
VIDEO OF THE WEEK
2021 Free Zones The Way Forward | Saskia Meuchelboeck, Economist, Kiel Institute, Germany
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