Economic zones are designated areas within a country where specific economic regulations differ from the rest of the country. These zones are often created to attract foreign investment, boost exports, and promote economic development. They may offer tax incentives, reduced tariffs, and less stringent regulations to encourage businesses to set up operations.
There are various types of economic zones, including Free Trade Zones, Special Economic Zones, and Export Processing Zones. Each type serves different purposes, such as facilitating international trade or manufacturing goods for export. By creating these zones, governments aim to stimulate economic growth and create jobs.