What countries have EPZs?
Table 1.1. Distribution of EPZs by region, 1997
| Region | No. of zones | Key countries |
|---|---|---|
| North America | 320 | United States – 213, Mexico – 107 |
| Central America | 41 | Honduras – 15, Costa Rica – 9 |
| Caribbean | 51 | Dominican Republic – 35 |
| South America | 41 | Colombia – 11, Brazil – 8 |
How do export processing zones use to attract investment?
Nations can also encourage investment in the EPZ by offering expedited licensing or building permits, minimal customs regulations, duty-free tax incentives, such as a ten year tax holiday, and developing infrastructure to investor’s requirements.
What are export processing zones famous for?
An export processing zone, or EPZ, is an area set up to enhance commercial and industrial exports by encouraging economic growth through investment from foreign entities. Incentives such as tax exemptions and a barrier-free environment are the main attractions of an EPZ.
What is the export processing zone?
An Export Processing Zone (EPZ) is a Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty.
How many types of companies operate in EPZs?
Three types of investors set up their factories in EPZs. These are: Type – A : 100% foreign owned including Bangladesh nationals ordinarily resident abroad. Type – B : Joint venture between foreign and Bangladesh entrepreneurs resident in Bangladesh.
What are some characteristics of EPZs?
Features of Export Processing Zones includes easy access to railway station and airport, an environment that is pollution free with proper sewerage and drainage systems, and self- certification and simplification of procedures in the labor acts.
What is EPZ in Mauritius?
Under the Mauritian Export Processing Zone (EPZ) programme, industrial exporters qualify for duty-free entry of imported goods, tax and credit incentives, greater flexi- bility in industrial relations and, for foreign investors, the unfettered repatriation of capital and dividends (Dror, 1984; Venter, 1987; MEDIA, 1990 …
Which region has the largest number of export processing zones?
Global Growth in EPZs The ILO report, which was prepared for the meeting, says that the largest numbers of zones are in North America (320) and Asia (225).
What are the features of EPZs in India?
Does Canada have special economic zones?
Unlike other countries, such as the United States, that focus on location-specific FTZs, Canada’s unique FTZ program allows for geographically flexible duty and tax relief.
How do SEZs attract foreign business?
SEZs were established to attract foreign direct investment, create employment opportunities, develop infrastructure, and facilitate transfer of technology and access to global markets. However, their main objective is to provide an internationally competitive and hassle-free environment to encourage exports.
What are Export Processing Zones (EPZ)?
This means moving away from an import-centric economy to one based on exports. Countries in Asia, Africa, and Latin America are creating export development programs that encourage investments from multinational companies. One tool which is used by many nations is Export Processing Zones (EPZ).
What is a free trade zone (EPZ)?
Some of the first free trade zones allowed imports and exports free from custom formalities so that goods could be re-exported quickly. The EPZ has been used by developing nations since the 1930’s to encourage foreign investment.
What are EPZs and why do they matter?
An increasing number of governments promote EPZs as a key element of their industrial strategy. These zones have been defined by the ILO as “industrial zones with special incentives set up to attract foreign investors, in which imported materials undergo some degree of processing before being exported again”.
How many people work in an EPZ?
In 2006, 130 countries had established over 3500 EPZ’s within their borders, with an estimated 66 million workers employed in those EPZ’s. Some EPZ’s are single factory locations, whereas some, such as the Chinese Special Economic Zones, are so large that they have a resident population.