Overview of the Promotional Zone

Home > Content > Overview of the Promotional Zone
2,137
Share on Facebook Share on Twitter

Overview of the Promotional Zone

Overview of the Promotional Zone

               In anticipation of the promulgation of the Special Eastern Development Zone Act (…) the government issued an edict (2/2560) to the head of the National Council for Peace and Order on January 17, 2017 concerning the Development of the EEC and as a framework to be used before enactment. This contained meaningfully important content as follows:

 

Definition: APromotional Zonerefers to an area or place in the Eastern Economic Corridor as determined by the Policy Committee. Operators, residents or lodgers of the aforementioned zone shall receive certain special privileges in operating, residing or being lodged as determined by point 3(4) of the Policy Committee review. The Policy Committee shall engage in and is vested with power to appropriately determine the promotional zones and privileges to be awarded to operators, residents or lodgers of each zone including the rules, regulations and condition in being awarded the aforementioned special privileges.

               Point 5 of the Promotional Zone states that in the event that legal provisions stipulate that the operator shall receive permission, certification of approval, or approval from a government entity, or a committee as specified by the aforementioned provision or should be required to register, or notify a relevant government entity or committee as determined by the aforementioned provision prior to engaging in business, the Secretary-General is vested with the power to approve, permit, create certification of approval, confer approval, accept registration or accept notification as determined by the legal provision, and is vested with the power and charged with the responsibility to enforce the aforementioned legal provision. Should the Secretary-General become aware or experience any burden in performing the duty to approve, permit, create certification of approval, confer approval, accept registration or accept notification, or become aware of undue burden presented to citizens, the Secretary-General may notify the Eastern Economic Corridor Management Committee for consideration. In the event that the Eastern Economic Corridor Management Committee approves of the aforementioned notification, the Eastern Economic Corridor Management Office shall notify the Policy Committee for final ruling in operating under paragraph one that the Eastern Economic Corridor Office is vested with the power to charge a fee, fiscal amount, cost, or other relevant fees as deemed by law, act, or ordinance, and further vested with the power to charge a service fee for the aforementioned process, as determined by Policy Committee declaration.

               While a fee may be assed as provided by paragraph three, the fee shall be the property of the related government agency, and the service fee shall serve as revenue of the Eastern Economic Corridor Office.

 

Objectives in Establishing the Promotional Zone: The Eastern Economic Corridor Office has designated the corresponding promotional zone so as to better facilitate special undertakings, e.g. implementation of infrastructure, technological development, and to better facilitate the development of 10 targeted industries, as determined by the declaration of the Eastern Economic Corridor Policy Committee.

INFORMATION ABOUT EEC

CONTACT EEC