Special Economic Zones commonly abbreviated as SEZ are built
with an aim to encourage economic activities. These areas attract businesses of
all size and nature due to the multiple benefits they offer, e.g., tax breaks,
world-class infrastructure, business-friendly environment, and at several times
single window for all permissions and clearances.
GCC in present time is
an economic hotspot and home to several SEZ that encourages businesses to set
up their base and start operation without any hassle.
In this article, we
will list 4 Major SEZ of GCC region that are best suited for businesses of all
sizes:
1.
Integrated
Logistics Bonded Zone (ILBZ), Riyadh, Saudi Arabia
ILBZ is widely popular
in business fraternity who keep a track on developments in Middle East region.
It is Kingdom’s first Special Economic Zone and since it is developed in close
proximity to Riyadh airport, it offers abundance of location benefits. A royal
decree was issued to fast track the development of this SEZ as it will play an
important role in realization of the Vision 2030. The core focus of ILBZ will
be integrated logistics and it will benefit industries that are related to
logistics, storage, transportation, import and export.b2b
marketing companies
2.
Kuwait
Free Trade Zone (KFTZ), Al Asimah Governorate, Kuwait
This free trade zone
that started its operations way back in 1999 is one of Kuwait’s largest and is
known for liberal economic laws such as 100% ownership of companies by
foreigners, corporate tax exemption, and no restrictions on foreign exchange
reserves. Operated by the Kuwait Ports Authority, the KFTZ offers not just land
for development but also modern offices and fully equipped warehouses that are
essential for a plug and play environment. If you are looking to enter or
expand into GCC region and if you are from import-export industry, service
sector, or packaging, repackaging, and assembly industry, then KFTZ is an ideal
destination that will meet all your requirements.
3.
Dubai
Industrial City, Dubai, United Arab Emirates (UAE)
Large area of 560
million sq. ft., and 6 specialized zones, each catering to the specific
requirements of following industries:
·
Zone 1 Food and
Beverage
·
Zone 2 Transport
Equipment and Parts
·
Zone 3 Machinery and
Equipment
·
Zone 4 Mineral
Products
·
Zone 5 Base Metal
·
Zone 6 Chemicals
Dubai Industrial City
is undoubtedly one of the largest manufacturing hub in Dubai and aims to attract
small and medium enterprises. Since its inception in 2004 the DIC has
successfully attracted investments from 700+ companies, many of whom have
already started manufacturing, while others are setting up their manufacturing
base in DIC. In addition to robust infrastructure within DIC, other benefits
include close proximity to the Expo 2020 Dubai site, Jebel Ali Port, and
Maktoum Airport.
4.
Ras
Al Khaimah Economic Zone (RAKEZ), Ras Al Khaimah, United Arab Emirates (UAE)
RAKEZ as a governing
authority took formal shape in 2017 but its history can be traced to 2000 when
Ras Al Khaimah Free Trade Zone (RAK FTZ) was founded. RAKEZ is a result of the
consolidation of Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment
Authority (RAKIA).
RAKEZ’s efficiency and success lies in the fact that over 12,000 companies from 100+ nationalities, representing 50+ diverse business sectors has invested substantially in RAKEZ. This special economic zone offers 100% foreign ownership option, tax-free environment, complete freedom to hire from global labour market as well as source raw materials from international suppliers. The growing investor sentiment enabled RAKEZ to set up offices in Germany, Turkey, and India. In addition, it also set up promotional centres in Abu Dhabi and Dubai.
Our View
Industries cutting
across sector can benefit from investing in SEZs in GCC. The nations that are
part of GCC are some of the most developed nations and have safe business
environment when compared to other nations in Middle East. So, if you are
looking to set up a business easily and avail government sponsored benefits
then look further, the SEZs in GCC are perfect for all your needs!. new electrical products
Website: https://www.industrialecart.com/
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