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Special economic zones (SEZs) Queue Gets Shorter By ugesh sarkar, Section Resale & Rental
Special economic zones (SEZs) are losing their sheen due to the uncertain global economic environment. While the government has received only two proposals for setting up SEZs this month, it has received 10 applications from investors to exit from projects already approved.
The board of approval (BoA) is likely to meet next week to consider these proposals, a commerce department official said requesting anonymity. BoA, chaired by the commerce secretary, has members from various government arms such as ministries of finance, home and defence. BoA, the authority to approve SEZ projects, was scheduled to meet on October 5 to consider these proposals, but the meeting was postponed due to unavailability of key officials. “With uncertainty still prevailing in the global economy, investors are not feeling confident enough to get into fresh ventures,” the official said. But that there were enough SEZ projects in the pipeline to keep investments flowing in, the official added. Source: Realty Plus SEZ queue gets shorter
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