Special Economic Zone

prominent examples of this layered approach are Subic Bay Freeport Zone in the Philippines, the Aqaba Special Economic Zone Authority in Jordan, Sricity Multi-product SEZ and Mundra SEZ in India and According to World Bank estimates, as of 2007 there are more than 3,000 projects taking place in SEZs in 120 countries A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's typical economic laws. The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC).
In the People's Republic of China, Special Economic Zones were founded by the central government under Deng Xiaoping in the early 1980s. The most successful Special Economic Zone in China, Shenzhen, has developed from a small village into a city with a population over 10 million within 20 years.
Following the Chinese examples, Special Economic Zones have been established in several countries, including Brazil, Iran, Jordan, Kazakhstan, Pakistan, the Philippines, Poland,Republic of Korea, Russia, Ukraine, United Arab Emirates. Currently, Puno, Peru has been slated to become a "Zona Economica" by its president Alan Garcia.
A single SEZ can contain multiple 'specific' zones within its boundaries. The most worldwide.
SEZs have been implemented using a variety of institutional structures across the world ranging from fully public (government operator, government developer, government regulator) to 'fully' private (private operator, private developer, public regulator). In many cases, public sector operators and developers act as quasi-government agencies in that they have a pseudo-corporate institutional structure and have budgetary autonomy. SEZs are often developed under a public-private partnership arrangement, in which the public sector provides some level of support (provision of off-site infrastructure, equity investment, soft loans, bond issues, etc) to enable a private sector developer to obtain a reasonable rate of return on the project (typically 10-20% depending on risk levels).

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[edit]China
Main article: Special Economic Zones of the People's Republic of China
Currently, the most prominent SEZ's in the country are Shenzhen, Xiamen, Shantou, Zhuhai and Hainan Province. It is notable that Shenzhen, Shantou, and Zhuhai are all in Guangdong province, and all are in the south of the country.
[edit]India
Considering the need to enhance foreign investment and promote exports from the country and realising the need that a level playing field must be made available to the domestic enterprises and manufacturers to be competitive globally, the Government of India had in April 2000 announced the introduction of Special Economic Zones policy in the country, deemed to be foreign territory for the purposes of trade operations, duties and tariffs. As of 2007, more than 500 SEZs have been proposed, 220 of which have been created. This has raised the concern of the World Bank, which questions the sustainability of such a large number of SEZs. The Special Economic Zones in India closely follow the PRC model.
India passed special economic zone act in 2005. In India, the government has been proactive in the development of the SEZs. They have formulated policies, reviewed them occasionally and have ensured that ample facilities are provided to the developers of the SEZs as well as to the companies setting up units in the SEZs.
[edit]List of SEZs in India
The policy provides for setting up of SEZs in the public, private, joint sector or by State Governments. One of them is Sricity Multi product SEZ, part of Sricity which is a developing satellite city in the epicentre of AP & TN. It was also envisaged that some of the existing Export Processing Zones would be converted into Special Economic Zones.
 Sricity (SEZ), (Andhra Pradesh) (http://www.sricity.in)
 MARG Swarnabhoomi (SEZs) for Engineering and Multi Services, (Tamil Nadu) (http://www.margswarnabhoomi.com)
 Hyderabad (Andhra Pradesh)
 Polepally (Andhra Pradesh)
 Visakhapatnam (Andhra Pradesh)
 Velankani SEZ, (Chennai) (http://www.velankanisez.com)
 Pharma and Biotech SEZ, Aurangabad, Maharashtra (http://www.inspirainfra.com)
 Ahmedabad, Baroda, Kandla and Surat (Gujarat)
 Cochin (Kerala)
 Pithampur (Madhya Pradesh)
 Nagpur also refer MIHAN, Pune and SEEPZ in Mumbai (Maharashtra)
 Chennai, Ilandaikulam Madurai, Nanguneri and Tirunelveli (Tamil Nadu)
 NOIDA, Greater NOIDA (Uttar Pradesh) UP
 Falta (West Bengal)
 Bangalore [Karnataka]
 Kensington [Powai, Mumbai]
 Mangalore (Karnataka)
Currently, India has 1022 units in operations in 9 functional SEZs, each an average size of 200 acres (0.81 km2). 8 Export Processing Zones (EPZs) have been converted into SEZs. These are fully functional. All these SEZs are in various parts of the country in the private/joint sectors or by the State Government. But this process of planning and development is under question, as the states in which the SEZs have been approved are facing intense protests, from the farming community, accusing the government of forcibly snatching fertile land from them, at heavily discounted prices as against the prevailing prices in the commercial real estate industry. Also some reputed companies like Bajaj and others have commented against this policy and have suggested using barren and wasteland for setting up of SEZs.
Attempts to set up a Special Economic Zone in Nandigram have led to protests by villagers in the area. A Parliamentary Committee to study and give recommendations on SEZs has said that no further SEZs be notified unless the existing law is amended to incorporate the changes related to the land acquisitions.
Genpact has announced its plans to expand its presence in Hyderabad by setting up a Special Economic Zone (SEZ) across 50 acres (200,000 m2) in the city at Jawahar Nagar.