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World FZO Weekly News | October 22, 2019

Special Economic Zones in ASEAN: An Introduction for Foreign Investors

To consolidate its emergence as a powerful trading bloc, ASEAN member states have been promoting special economic zones (SEZ) as a cornerstone for efforts to encourage more foreign investment.
In Thailand the government has targeted 13 priority sectors to be developed through the SEZs, which include the agro-industry, manufacturing of engines and vehicle parts, textiles and garments, among many others.
Indonesia currently operates 11 SEZs located throughout the vast archipelago, offering growing opportunities for investments in manufacturing, agriculture, natural resources, and tourism.
The Philippines has 12 SEZs or free port areas, 22 specific agri-business zones and a further 300 proclaimed economic zones spread throughout the country. These economic zones are classified into manufacturing, tourism, digital parks, and medical tourism parks.
Singapore has partnered with the Government of Malaysia to create the Iskander SEZ in nearby Johore Baru and with Indonesia to create the Batam Export Processing Zone.
ASEAN member states actively promote the development of special economic zones (SEZ) to attract foreign investment. They SEZs offer various incentives for investors ranging from tax exemptions to streamlining business permit applications. Foreign investors looking to invest in this industry will need a strong market understanding.

Date: 12/24/2019
Source : روابط عمومی