Geneva/Douglas. FEMOZA, the World Free and Special Economic Zones Federation, based in Geneva, Switzerland, is entering a new era. After more than 20 years of activity in the sector of special economic zones (SEZ), FEMOZA is partnering with FEMAC Limited, a specialized service company registered in the Isle of Man. The parties conducted an exclusive cooperation agreement, which stipulates that FEMAC will operate certain professional activities on behalf of FEMOZA. This includes, amongst other things, an online World SEZ Directory, outlining the SEZ challenges, activities and FDI terms in over 200 countries and territories. In addition, a Best Practice Management System for SEZs is being prepared and will be ready in a short time.
Juan Torrents, founder and president of FEMOZA said: “After twenty years of activity, FEMOZA has gained prestige and credibility as well as a lot of knowledge, experience and developed a network among the industry and we are repeatedly receiving requests for professional support. As a non-profit organization, we cannot serve these demands. Therefore, I am very happy that we are able to cooperate with a professional and innovative partner like FEMAC.”
FEMAC is headed by Dr. Titus Gebel, a German businessman who founded several companies before, including Frankfurt-listed Deutsche Rohstoff AG and TIPOLIS, a firm that is promoting a new form of semi-autonomous SEZs, called Prosperity Zones. Dr. Gebel was heavily involved in the structuring and implementation of the first Honduran ZEDE (Zone for Economic Development and Employment), a groundbreaking new type of SEZ. ZEDEs are based on a public-private-partnership governance model, which includes an alternative dispute resolution system.
Titus Gebel commented: “We are proud to partner with such a prestigious organization as FEMOZA. Together we can support traditional zones worldwide in implementing best practices. At the same time, we can advise interested governments in new competitive forms of SEZs. I am especially glad that Juan Torrents has agreed to serve as a director and advisor for FEMAC, so he can bring in his decades-long sector-experience.”
7th May 2020
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. Their objectives are usually increased economic activity, employment, investment and effective administration. SEZs can be a testing ground for new reforms, policies, technologies and business models. They can lower risks by offering a transparent and effective legal framework, fiscal incentives, and modern management practices and governance mechanisms. SEZ are amongst the fastest growing industries in the world. At the moment they are about 3.000 active SEZs. Numbers are growing at a pace of about 15% per year.