An industrial park , also known as industrial estate or trading estate , is an area zoned and planned for the purpose of industrial development . An industrial park can be thought of as a more heavyweight version of a business park or office park, which has offices and light industry , rather than heavy industry . Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours.
18-524: The OSTIM Industrial Zone ( Ortadoğu Sanayi ve Ticaret Merkezi, OSTİM ) is a large industrial park in Ankara , Turkey aimed at Small and medium enterprises (SMEs). With around 5000 companies in eight main sectors and 50,000 employees over an area of 5 million square metres, it is Turkey's largest industrial production area. It was established in the mid-1970s. Its investment and marketing company, Ostim Endustriyel Yatirimlar ve Isletme AS , founded in 1998,
36-543: A North American industrial park is a water tower , which helps to hold enough water to meet the park's demands and for firefighting purposes, and also advertises the industrial park and locality, as usually the community's name and logo are painted onto its surface. This idea of setting land aside through this type of zoning has several purposes: Benchmarking helps to rank industrial parks based on various criteria, including performance, investment, environmental protection, social responsibility, and governance (ESG). For
54-537: A nearby highway, and with only the basic utilities and roadways. Public transportation options may be limited or non-existent. Industrial parks in developing countries such as Pakistan face a myriad of additional difficulties. This includes the availability of a skilled workforce and the clustering together of radically different industrial sectors (pharmaceuticals and heavy engineering, for example), which often leads to unfavorable outcomes for quality centered industries. An industrial park specializing in biotechnology
72-675: A special zone for many industries (mixed OIZs). Not every industry is allowed to operate in organized industrial zones. Free economic zone Free economic zones ( FEZ ), free economic territories ( FETs ) or free zones ( FZ ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries . The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity . The taxation rules and duties are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on
90-623: A specific type of special economic zone, for example LADOL . All "free ports" in the world were permitted by the respective states, save the Free Port of Trieste that with the signing of the 16th Resolution of the Security Council of the United Nations (10 January 1947) and the signing of the Treaty of Peace with Italy (10 February 1947, ratified 15 September 1947) was put territorially under
108-403: Is called a biotechnology industrial park. It may also be known as a bio-industrial park or eco-industrial cluster. Flatted factories exist in cities like Singapore and Hong Kong , where land is scarce. These are typically similar to flats , but house individual industries instead. Flatted factories have cargo lifts and roads that serve each level, providing access to each factory lot. India
126-800: Is quoted on the Istanbul Stock Exchange (as OSTIM). Industrial park Industrial parks are usually located on the edges of, or outside, the main residential area of a city , and are normally provided with good transportation access, including road and rail . One such example is the large number of industrial estates located along the River Thames in the Thames Gateway area of London . Industrial parks are usually located close to transport facilities, especially where more than one transport modes coincide, including highways , railroads , airports and ports . Another common feature of
144-635: The sovereignty of the United Nations itself. As cited on Annex VIII, Article 3, paragraph 2: "The establishment of special zones in the Free Port under the exclusive jurisdiction of any State is incompatible with the status of the Free Territory and of the Free Port" . For example, it was not possible to apply the "Italian Law on Ports" in the extraterritorial free zones of the UN Free Port of Trieste with
162-608: The Special Economic Zones (SEZs) Policy was announced in April 2000. A special economic zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's domestic economic laws. India has specific laws for its SEZs.The category 'SEZ' covers a broad range of more specific zone types, including free-trade zones (FTZ), export processing zones (EPZ), free zones (FZ), industrial estates (IE), free ports , urban enterprise zones and others. Usually,
180-531: The commission cited Swiss authorities' 2016 seizure of cultural relics looted from the Middle East being stored in Geneva's free ports. The free port system has been accused of facilitating international art crime, allowing stolen artworks to remain undetected in storage for decades. Freeports' lax regulation enables criminals to operate in secrecy. Freeports may facilitate money laundering and tax evasion by obscuring
198-521: The conditions and benefits of free zones. Some special economic zones are called free ports or free trade ports . Sometimes they have historically been endowed with favorable customs regulations, such as the free port of Trieste , or the newer free trade port on Hainan Island . The definition should be understood in meaning The International Convention on the Simplification and Harmonization of Customs Procedures (Revised Kyoto Convention) uses
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#1732844136044216-432: The effect that all actual territorial concessions were null and void. In 1954, the Free Territory of Trieste was dissolved and given to its neighbours, Italy and Yugoslavia. The European Union, in 2020, introduced new stricter rules to identify and report suspicious activities at free ports and zones in response to the "high incidence of corruption, tax evasion, and criminal activity", with a further review to take place in
234-470: The following year, The European Parliament suggested that increasing demand for free ports could be partly a response to global crackdowns on tax evasion. The European Commission in a report said that free ports were popular for the storage of art, precious stones, antiques, gold, and wine as alternative assets to cash, and posed an emerging threat in multiple ways: allowing counterfeiters to land consignments and tamper with loads and paperwork, then re-export
252-538: The goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a Multi National Corporation (MNC) . Notable SEZs in India An organized industrial zone ( Turkish : Organize Sanayi Bölgesi ) is a kind of special economic zone in Turkey . These zones were legislated for between 2000 and 2007, and may bring together related (OIZs for function) industries or just be
270-429: The manufacturing companies located in industrial parks, the performance of industrial park operators is important, as the costs for infrastructure and services charged by the industrial park operator is a serious factor for the competitiveness of the manufacturing companies. Different industrial parks fulfill these criteria to differing degrees. Many small communities have established industrial parks with only access to
288-503: The products without customs formalities, disguising the actual origin and nature of the goods and their supplier. The commission said they were also used for narcotics trafficking, the illegal ivory trade, people smuggling, VAT fraud, corruption and money laundering. "Legal businesses owned by criminals remain key to money-laundering activities... free ports are perceived as facilities that protect their clients'' identity and financial dealings, much as private banks used to." As an example,
306-565: The term “free zones” which the revised convention describes as “a part of the territory of a Contracting Party where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as being outside the customs territory ”. According to the World Bank, the main types of special economic zones are: An early type of special economic zone was free ports , these historically were endowed with favorable customs regulations. In modern times, free port has come to mean
324-632: Was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. In order to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India,
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