What are export processing zones famous for?

An export processing zone, or EPZ, is an area set up to enhance commercial and industrial exports by encouraging economic growth through investment from foreign entities. Incentives such as tax exemptions and a barrier-free environment are the main attractions of an EPZ.

What is a Exporting 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.

How many EPZ are there in Kenya?

seven export processing zones
With the utilization of seven export processing zones (EPZ) Kenya’s Government aims to provide to foreign investors considerable industry-driven estates with quality logistics infrastructure to support export oriented businesses.

What are EPZ companies?

Some of the companies in Kenya which are registered with EPZ include:

• ADEC Kenya Services (Export Processing Zone) Limited. P. O Box 579.
• Africa Apparel EPZ Ltd. P. O Box 1443-00100.
• Avenue Fresh Produce EPZ Ltd. P. O Box 3865,
• Kapric Apparels EPZ Ltd. P.O Box 81579, Mombasa.
• Mombasa branch. Opposite CFS Kipevu, Mombasa Road,

What is export process?

In general, an export procedure flows as stated below: Step 1. Receipt of an Order The exporter of goods is required to register with various authorities such as the income tax department and Reserve Bank of India (RBI). The Indian exporter receives orders either directly from the importer or through indent houses.

What is the difference between export processing zone and special economic zone?

Key differences between SEZ and EPZ: SEZ is found in all the countries but EPZ is found in developing or developed countries. SEZ is open to all fields of businesses like manufacturing, trading and service but EPZ focuses more on manufacturing. Tax benefits in SEZ are much more than in EPZ.

What is import process zone?

Although they may be ‘free trade zones’ by name, they are more accurately described as ‘import-processing zones’, and they represent an exchange between foreign manufactured goods and access to the world’s largest consumer market, a reversal of the export-processing zones of the 1980s.

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.

Who is the CEO of EPZA?

Fanuel Kidenda
Fanuel Kidenda, Chief Executive Officer, EPZA, Mr.

What is a Special Economic Zone in Kenya?

In Kenya, an SEZ is a designated geographical area where business-enabling policies are implemented and sector-appropriate on-site and off-site infrastructure and utilities are provided for by the Kenyan Government.

What is export trade and its procedure?

An exporter pertains to such a person, firm or country that sends and sells goods or services to another country. 2. Exporting Meaning. The procedure for export essentially involves the act of exporting. Exporting is the carrying of manufactured goods or sending services to another country to be traded.

What is import and export process?

Typically, the procedure for import and export activities involves ensuring licensing and compliance before the shipping of goods, arranging for transport and warehousing after the unloading of goods, and getting customs clearance as well as paying taxes before the release of goods.