Special Economic Zones Act, 2014 (Act No. 16 of 2014)Chapter 5 : Designation of Special Economic Zones24. Designation of Special Economic Zones |
| (1) | Despite section 23, the Minister may, on his or her own accord, designate an area as a Special Economic Zone in pursuance of strategic national interests. |
| (2) | The Minister may prescribe different categories of Special Economic Zones, which may include— |
| (a) | a free port; |
| (b) | a free trade zone; |
| (c) | an industrial development zone; and |
| (d) | a sector development zone. |
| (3) | The Minister may prescribe— |
| (a) | criteria and guidelines for the designation of each category of Special Economic Zones; and |
| (b) | conditions that may be imposed on each category of Special Economic Zones. |
| (4) | The Minister may, after consultation with the Minister of Finance, prescribe the type of service and business that may be located in a Special Economic Zone in order to achieve the purpose of Special Economic Zones set out in section 4. |
| (5) | For the purposes of this section— |
| (a) | "free port" means a duty free area adjacent to a port of entry where imported goods may be unloaded for value-adding activities within the Special Economic Zone for storage, repackaging or processing, subject to customs procedures; |
| (b) | "free trade zone" means a duty free area offering storage and distribution facilities for value-adding activities within the Special Economic Zone for subsequent export; |
| (c) | "port of entry" means a place designated as a place of entry for the control of vessels, aircraft, trains, vehicles, goods and persons entering the Republic; and |
| (d) | "sector development zone" means a zone focused on the development of a specific sector or industry through the facilitation of general or specific industrial infrastructure, incentives, technical and business services primarily for the export market. |