The World Free Zones Organisation, the global apex body of free zones or special SEZs, has chosen Hyderabad for establishing its Asian Regional Office.
Free zones are a class of special economic zones with liberalised tax laws, allowed by governments to encourage economic activities. A total of 3,500 free zones are spread across the globe, a press communiqué informed on Friday.
The new regional director of the organisation will be Srikanth Badiga, city-based realtor and chairperson of Indo-American Chamber of Commerce.
Mr. Srikanth said WFZO chose Hyderabad among many other trade centres in Asia because of a proactive government.
Principal Secretary, Industries, Jayesh Ranjan, attributed the choice to the investment-friendly environment, industrial-friendly ecosystem, proactive government policies, and good governance.
The Asian Regional headquarters will be declared open formally in the third week of December Srikanth Badiga added.
Registered and established in Geneva, Switzerland, WFZO has its global headquarters at Dubai.
