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Results for category "Free Zone Authorities"

Free Zone Authorities

Free zone is a designated area, as of a city, where certain taxes or restrictions on business or trade do not apply. A free zone is an area within which goods may be landed, handled, manufactured or reconfigured, and reexported without the interference of customs authorities. Free zones areas are organised around areas with many geographic advantages for trade, such as around major seaports, international airports, and national frontiers. Free zones are set up in underdeveloped parts of the host country on the basis that the zones will attract employers and help reduce poverty and unemployment, effectively increasing the area's economy. Free zones are often used by multinational corporations to set up factories to produce goods, such as clothing or shoes.