This new
zone replaces the expiring Jackson County Enterprise
Zone.
The 11 economic
zones inaugurated are Mongla Economic
Zone in Bagerhat, Meghna Economic
Zone, Meghna Industrial Economic
Zone, Aman Economic
Zone and City Economic
Zone in Narayanganj, Abdul Monem Economic
Zone in Munshiganj, Bay Economic
Zone in Gazipur, Kishoreganj Economic
Zone in Kishoreganj, East West Special Economic
Zone in Dhaka, Karnaphuli Dry Dock Special Economic
Zone in Chattogram and Srihatta Economic
Zone in Moulvibazar.
It said that Downtown
Zone would comprise of business
zones and central area of the city and Old Town
Zone would comprise historical and original core with heritage buildings and streets.
The same statistical models of the sets were applied in the court
zone.
Even though in the past, Pakistan wanted to establish such
zones and tried to set up special economic
zones but the attempts were not particularly successful back then, according to an article published by China Daily on Wednesday.
The new addition sees the total designated
zones increasing to 23 across the UAE.
Designated
Zones are the areas that meet the conditions stated in the Cabinet Decision No.
The Ministry said in a statement on Thursday: "Although Designated
Zones are part of the UAE territory, for VAT purposes, they are treated as being outside the UAE.
The main purpose of establishing free
zones in the UAE was to serve as a business nucleus for companies to conduct business with the world, not in the UAE.
The first of Qatar's three planned economic
zones may be open for business by the fourth quarter of 2016, according to Fahad Rashid Al-Kbi, CEO of Qatar Economic
Zone Projects.
56/2002, the legal framework, which regularizes the work of the free
zones in the Sultanate and the mechanism to establish these
zones.
It noted that economic
zones based in the United Arab Emirates dominated the Free
Zones of the Future 2010/11 ranking, with seven of the top 25
zones coming from the UAE.