Free economic zones or free zones or special economic zones (SEZ) refer to designated areas in which companies are taxed very lightly or not at all in order to encourage economic activity.
Sometimes they are called free ports, which have historically been endowed with favorable customs regulations, e.g., the free port of Trieste. Very often free ports constitute a part of free economic zones.
Famous quotes containing the words free, economic and/or zone:
“The current flows fast and furious. It issues in a spate of words from the loudspeakers and the politicians. Every day they tell us that we are a free people fighting to defend freedom. That is the current that has whirled the young airman up into the sky and keeps him circulating there among the clouds. Down here, with a roof to cover us and a gasmask handy, it is our business to puncture gasbags and discover the seeds of truth.”
—Virginia Woolf (1882–1941)
“Politics at all times lead to bloody wars, and not only politics, but also religions as well as social and economic systems of all times are spattered with blood. Invariably the big ones devoured the little ones, and the little ones the tiny ones.”
—Friedrich Dürrenmatt (1921–1990)
“The human race is a zone of living things that should be defined by tracing its confines.”
—Italo Calvino (1923–1985)