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Northern Economic Zone (“NEZ”)

According to World Investment Report 2019 -issued by UNCTAD- Special Economic Zones (SEZs) are defined as geographically delimited areas within which governments facilitate industrial activity through fiscal and regulatory incentives and infrastructure support – are widely used across most developing and many developed economies. The report stated that there are almost 5,400 SEZs today, more than 1,000 of which were established in the last five years. At least 500 more zones (approximately 10 per cent of the current total) have been announced and are expected to open in the coming years.