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Special Economic Zones Act, 2018

Country/Territory
Eswatini
Document type
Legislation
Date
2018
Source
FAO, FAOLEX
Subject
General
Keyword
Basic legislation Data collection/reporting Institution International trade Management/conservation Monitoring Protected area Zoning Enforcement/compliance Land-use planning Governance
Geographical area
Africa, Landlocked Developing Nations, Southern Africa
Abstract

This Act comprehend 27 articles organized in six parts, plus three schedules. After providing interpretation tools, the first part establishes the application of the Act to special economic zones before explaining the purpose of their existence, which is their economic development to be obtained through the attraction of foreign and domestic investments and the transfer of technology and the exporting of products produced in the special economic zone. A special economic zone shall facilitate the creation of an industrial complex, develop infrastructure required to support the development of targeted industrial activities, provide the location for the establishment of targeted investments. The second part of the Act creates a Special Economic Zones Committee and defines its composition and functions. The third part establishes the areas listed in the Third schedule as those declared as special economic zones: the Minister responsible for Commerce, Industry and Trade determines the extent of the area and its limits and has the power to revoke the declaration. A special economic zone may be designated as a single sector or multiple sector special economic zone (and so may include free trade zones, free ports, science and technology parks, agricultural zones etc.). The criteria for designating special economic zones are also listed in this part. Part four is focused on the necessary qualificationsn of a special economic zone developer (be a company registered in Eswatini; have the financial capacity, technical and managerial expertise; be an owner or lessee of land or premises within the special economic zone) and the requirements upon which the Minister shall grant a licence for operating a special economic zone.

Full text
English
Website
www.gov.sz