What does IDZ mean in INTERNATIONAL

An IDZ is a special economic zone that provides incentives, such as tax holidays, to encourage businesses to locate in certain areas. It is also sometimes referred to as an Export Processing Zone or Free Trade Zone.

IDZs typically provide benefits such as lower taxes, streamlined customs procedures, and relaxed regulations for foreign trade and investments. Other benefits may include free trade zones, industrial parks with ready-to-use infrastructure, and access to skilled labor.

IDZs can be located in any country around the world, but they are most commonly found in developing countries where governments wish to attract foreign direct investment (FDI).

Each country's government sets the rules and policies for their own IDZs and appoints a government Ministry or Agency to manage them. The Ministry or Agency then works with local partners on the ground to ensure compliance with the rules and regulations set by the government.

Any business activity deemed suitable by the host country's government can operate within an IDZ — from light manufacturing activities such as electronics assembly, textile production or food processing through to heavy industrial activities such as machinery production or chemicals manufacturing.