Definition, Meaning & Synonyms

economic-zone

noun

/ˌɛkəˈnɒmɪk zoʊn/

Definition

A designated area within a country that is subject to different economic regulations than the rest of the country.

Examples

The government established an economic zone to stimulate growth in the region.
Manufacturers often locate their plants in economic zones to take advantage of tax benefits.

Meaning

Economic zones are created to attract foreign investment and boost economic activity by providing tax incentives, less stringent regulations, and improved infrastructure.