SEZ programme gets going with new Bill

Cabinet has approved the Special Economic Zones (SEZ) Bill for subsequent tabling in Parliament which will provide for the designation, development, promotion, operation and management of SEZs, the subject of the new development policy within the New Growth Plan developed in conjunction the various economically linked government departments dealing with department of trade and industry (DTI), the minister Rob Davies introducing the Bill.

The new Bill will allow for an appropriate board; a fund to develop SEZs and the ability to manage and implement programmes establishing and approving incentives for operators.

It will also regulate the application and issuing of permits to developers wishing to operate a SEZ.

In addressing Parliament in the last session, minister Rob Davies said the policy and Bill had been drawn up to deal with the problems that had resulted from the earlier industrial IDZ incentive programme but which would now be consolidated into and under the proposed structure, both by filling in gaps and widening the scope of both geographically and economically.

More importantly, it allows for the application of different types and improved incentives for developing industry and businesses.  By establishing an SEZ Board, the Bill will in fact activate the new SEZ programme and allow for co-ordination.

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