What are the export processing zone?
What are the export processing zone?
An Export Processing Zone (EPZ) is a Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty.
Who owns EPZ Kenya?
The EPZ Authority is a State Corporation, under the Ministry of Trade and Industry. The Authority is provided with general direction by a Board comprising 15 members appointed from both the private and public sectors.
How many export processing zones are there in Pakistan?
28 units
Operational activities started in the year 2002. All operational facilities are provided by EPZA under its charter and rules / procedures. Their exports valued US $ 3.043 million in 2019-20, and cumulative export is US $ 23.557 million. Presently 28 units are operational.
How many export processing zone are in Nigeria?
Since the establishment of the enabling laws relating to EPZs, 31 EPZs have been created. Of these, 14 are operational, with nine under construction and eight awaiting approval to begin approved activities.
Do EPZ pay taxes in Kenya?
Export processing zone (EPZ) Companies located in an approved EPZ, principally to export goods, are taxed at a 0% CIT rate for ten years from commencement and at a rate of 25% for the next ten years.
How many companies are in EPZ Kenya?
Braun EPZ Pharmaceuticals Limited is the first German investment in the EPZ Pro- gram; following H. E. President Uhuru Kenyatta’s visit to Germany in April 2016 and further adds to the growing list of phar- maceutical firms operating in the EPZ pro- gram. There are 150 German companies in Kenya, including B.
How many EPZs are there?
4,000 EPZs
Over the past decade, the popularity of Export Processing Zones (EPZs) has grown in many countries across the global south. There are now over 4,000 EPZs, which is over 3,000 more than 20 years ago.
Why are export processing zones developed in Pakistan?
Its main objectives are accelerating the pace of industrialization in the country and enhancing the volume of exports by creating an enabling environment for investors to initiate ambitious export-oriented projects in the Zones which would, as a corollary, create job opportunities, bring in new technology and attract …