The newly approved T&T Special Economic Zones Bill, 2021 will result in the creation of a SEZ Authority.
Entitled “An Act to provide for the designation, development, operation and management of Special Economic Zones,” the new law will repeal the existing Free Zones Act. According to Trade Minister Paula Gopee-Scoon, the new SEZ regime “will ensure that not only are there targeted incentives (both fiscal and non-fiscal) that balance national developmental goals with investors’ needs, but also that there is good governance & transparency in managing these incentives and the entities that benefit from them.” (TE)