What were the objectives for establishing EPZ ? How are export houses benefited by the EPZ ?
The other main objectives of EPZ can be summarized as follows:
- Pronging rapid industrialization in the country
- Increasing export earnings
- Expanding the use of advanced technology
- Enhancing the employment rate and thus improving the standard of living
- Broadening the scope of foreign direct investment
- Establishing the assembling industry
- Attracting the investment of immigrants to the domestic market
- Creating the proper use of human and the non-human resources of the country
- Increasing reputation and demand of the national products in foreign countries
- Arrangement of more foreign exchange
- Increasing the labor and management skills of the people of the country
- Bringing an infrastructural development to the entire country
- Improving the strong relationship with the other countries
- Joining the globalize international market to get advanced marketing facilities and to achieve great commercial benefits.
Trade transaction costs are normally reduced by allowing for a combination of duty‐free imports of raw materials, intermediate goods, and capital goods as well as streamlined and onsite customs services.
Many developing nations are trying to transform their economies by integrating themselves into the global supply chain. This means moving away from an import-centric economy to one based on exports. Countries in Asia, _______ ___ ___ ______ _______ _____ ______ _______ ______ ___.
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