An economic zone refers to a designated area within a country's borders that has specific economic regulations and incentives to attract investments, promote trade, and stimulate economic activity.
Related terms
Special Economic Zone (SEZ): A type of economic zone with even more favorable conditions for businesses, such as relaxed labor laws or reduced customs duties.
Free Trade Zone: An economic zone where goods can be imported, stored, processed, or re-exported without facing regular customs duties or regulations.
Export Processing Zone (EPZ): An economic zone focused on manufacturing and exporting goods, usually located near ports or airports for efficient transportation.