Abidjan hosts meeting of African Economic Zones and Free Zones

Abidjan, Sept 18, (AIP) – The Ivorian economic
capital is to host the third edition of the annual convention of the economic
zones and Africa free zones.

This would be held from September 20 to 22
under the theme “The contribution of the economic zones and zones free
from sustainable economic progress in Africa”.

It is being organized by the Association of
African Economic Zones and Free Zones (AFZO).

The international meeting aims to strengthen
partnerships between economic zones and African free zones through the
deployment of an integrated ecosystem and a participatory economic approach.

International experts and leaders of economic
zones and free zones, representing more than 20 African countries, would attend
the two days conference.

They would discuss issues relating to the
promotion of foreign direct investment, dedicated business models and financing
problems of economic zones and free zones in Africa.

An economic zone or free zone is a
geographical area of a country with tax advantages in order to attract
investment and develop economic activity.

The companies that settle here benefit from a
more favourable fiscal and regulatory environment than that prevailing in the
rest of the country.

In particular, goods brought into the country
are not considered to be in that territory and are exempt from import duties,
taxes and commercial policy measures.

The association AFZO, which is a
non-governmental organization in charge of the development, management and
promotion of African economic zones and free zones, provides the platform,
allowing these zones to reach strategic development objectives, to establish
alliances and structuring partnerships, and strengthen their attractiveness in
planting industrial investments.

AFZO is the exclusive representative of the
World Free Zones Organization in Africa.

AIP/GNA