Cambodia

Japan’s Sumitomo opens third plant in Phnom Penh’s SEZ

Japanese-owned automotive wiring harness manufacturer Sumi (Cambodia) Wiring Systems Co Ltd has expanded business operations to meet growing demand after a decade of presence in the Kingdom. Its third rental factory at the 357.3ha Royal Group Phnom Penh Special Economic Zone (SEZ) southwest of the capital’s airport has gone online. Read more.

Dominican Republic

Direct jobs exceed 1,900 in the free zone sector

During the period from January to June of this year, the free zone sector registered the largest number of jobs in the last 22 years, reaching the figure of 190,472 direct jobs, experiencing a relative growth of 11%, compared to the same period last year, whose figure was 171,682. Read more.

Nigeria

NEPZA commends Buhari’s insistence on global best practices for Free Trade Zones

The Nigeria Export Processing Zones Authority (NEPZA) says it is impressed with President Muhammadu Buhari’s insistence that the nation’s Free Trade Zone continues to align more with the global standards regulating the scheme. Read more.

Nigeria

NEPZA hails Buhari’s position on Free Trade Zone

The Nigeria Export Processing Zones Authority (NEPZA) has expressed satisfaction with President Muhammadu Buhari’s move to ensure that the country’s Free Trade Zones (FTZs) operate in line with global standards. Read more.

United Arab Emirates

Etihad Credit insurance to support SMEs at two Sharjah free zones

The Etihad Credit Insurance has struck a partnership with Hamriyah Free Zone Authority and Sharjah Airport International Free Zone Authority to support Sharjah exporters and re-exporters reach out to overseas markets and secure their receivables at the same time. Read more.

South Korea

FDI in free economic zones soars 164% in H1

Foreign direct investment (FDI) pledged to South Korea's free economic zones (FEZs) more than doubled in the first half of this year to hit a three-year high amid post-pandemic economic recovery. Read more.

Uganda

Manufacturers urged to utilize incentives in Free Zone Parks

As a way of boosting exports and triggering the transition to special economic zones, the Uganda Free Zones Authority has called upon private castor companies to register as free zones operators. Only 30 players are registered as Free Zone operators despite the many incentives that come with a free zones operator’s license. Read more.

Venezuela

Special Economic Zones Law Enacted in Venezuela

The President of Venezuela, Nicolás Maduro, enacted this Wednesday the Organic Law of Special Economic Zones to boost the "productive development of the country with a perspective that breaks with the oil rentier model". Read more.

Companies Can Lower Tariff Impact with FTZs

Despite weeks of speculation that action to revise or lower the Section 301 tariffs on imports from China was imminent, the Biden administration has yet to announce any such steps. In the meantime, companies are continuing to utilize a number of proven and legitimate ways to effectively escape or limit the impact of these tariffs, including foreign-trade zones. Read more.

Ras Al Khaimah Free Trade Zone guarantees 25% savings on business operational costs

The Worldfolio speaks with His Highness Sheikh Ahmad Bin Saqr Al Qasimi, Chairman of Ras Al Khaimah Free Trade Zone (RAK FTZ), about the diversified portfolio of RAK FTZ’s Parks; the opportunities for foreign investors; and the impact of Expo 2020 on the Emirate. Read more.

Kendal SEZ presents attractive investment opportunity in C Java

The Kendal Special Economic Zone (SEZ) offers special attractiveness to draw investment and create job opportunities in Central Java province, Coordinating Minister for Economic Affairs Airlangga Hartarto has said. Read more.