Over time, the free zone model has increased trade and investment flows between countries and created millions of jobs in the process. There are several examples of the impact that successful free zone models can have on a country from all around the world, and the World FZO seeks to highlight such success stories and to raise awareness of the advantages that the model can bring.
– Dr. Samir Hamrouni
CEO World FZO
“Currently as soon as a pensioner earns more than $300 a fortnight they lose 50c on the dollar of their pension.
“Instead there needs to be a simple system where they are able to work more and then pay income tax.“
It’s a good idea. Do it.
Prime Minister Andrew Holness says the newly-established Global Alliance of Special Economic Zones (GASEZ) will serve to make free zones the most effective tool for countries in ensuring their economic recovery in the post-COVID-19 pandemic period. Holness pointed out that already free zones are responsible for 20 per cent of global trade in goods, with direct economic benefits to countries ranging from upgrading their local industrial bases, as well as being a catalyst for innovation, knowledge and technical transfer.
Includes video referencing how the creation of special economic zones are strategic are in expanding the economy.
New Resources Minister reveals a ‘transition’ to fossil-free world. She intends to use her new platform to “dispel a lot of the myths around the industry” and to ensure the rest of Australia appreciated the sector was the “backbone of the economy”. The trade portfolio she held in Opposition was allocated to South Australian Senator Don Farrell. Ms King said she accepted it would have been “difficult” to hold both jobs, but speculated “one day in the future, maybe” she would have that opportunity. Instead, she was also made Minister for Northern Australia, despite her electorate being south of Perth. She admitted being “a little surprised” but said she had an affinity with the region and saw it as a “broad, exciting portfolio”.
The mining industry is the backbone of the Australian economy paying the highest average wages and contributing billions in taxes and royalties each year. The industry continues to pay the highest on average wages, the most company tax, delivers the most export revenue and was critical to supporting regions and communities, including providing 1.1 million jobs in the mining, mining equipment, technology and services sector.
UNCTAD Secretary-General Rebeca Grynspan said: “The United Nations 2030 Agenda for Sustainable Development provides an opportunity for special economic zones to attract investment by putting SDGs at the forefront of their value proposition.” Ms. Grynspan added: “A new model of sustainable special economic zones is therefore rapidly taking shape and they are contributing to more inclusive, resilient and sustainable economies in the countries where they operate. The alliance pools the expertise of its members to increase collaboration between SEZs, advocate on their behalf and enhance their contributions to sustainable development.
“I hope with the new government a better decision is made in the interests of West Australians and northern Australia, to relocate the planned navy maintenance investment away from the people and port of Fremantle, and relocate to the north-west, to Cape Preston,” said Mrs Rinehart after Saturday’s election rout of Scott Morrison’s Coalition government. Mrs Rinehart reiterated her belief that senior citizens and defence force veterans should not lose their pensions if they choose to work for an income, saying both the community and the economy would be better off if they were able to participate more at a time of labour shortages. “Enabling our economy to grow via urgent and significant tape cuts is the best way to increase jobs and opportunities for our youth, our females and our entire population, and the best way to enable wage increases and standards of living to rise, in turn providing revenue for necessities like, healthcare, emergencies, police, kindergartens, our elderly and more.”Restrictions on stopping pensioners and vets from working, restrictions that mean they can only work for a few dollars a week without losing all or part of their pensions, and onerous paperwork, must go urgently,” she said.
Gina Rinehart argues the federal government should offer tax breaks to help northern Australia grow. The Deputy Prime Minister Mr Barnaby Joyce is to be congratulated for bringing to Australians’ attention the needs and potential for the towns in the Pilbara to grow. Australia needs an investment boom in the wake of the pandemic, and given our trillion dollar debt, Australia needs practical initiatives like IDZ’s that will foster a boom in investment. Cutting tape and taxes and allowing Australians to get on with building their lives and our country with less government in the way is a vital part of this.
