Vizag SEZ rolls out red carpet for investors

Visakhapatnam: Visakhapatnam Special Economic Zone Deputy Development Commissioner SJNHK Vara Prasad on Friday said they are offering hassle-free investment opportunities with readily available infrastructure at the zone spread over 360 acres in the city.

He was speaking at a seminar organised by Visakhapatnam zonal unit of Confederation of Indian Industry (CII) on incentives for SEZ units, customs, GST issues, recent judgments, FTWZ and other connected matters.

Shedding light on the diverse advantages and robust infrastructure available within VSEZ, he explained about the readily available infrastructure, including land, buildings, connecting roads and other common amenities within the SEZ, creating an ideal environment for business operations. He also underscored the legal framework governing SEZs, regulatory processes and single-window pre-approvals for land use regulations, town planning, factory licenses and other regulatory.

For businesses considering setting up a new unit in the SEZ, Vara Prasad emphasised the expeditious pre-approval process through the single window mechanism, facilitating priority approvals from key regulatory bodies such as the Andhra Pradesh Pollution Control Board (APPCB). Dr PP Lal Krishna, chairman, CII Visakhapatnam commended the recent initiatives undertaken by the Government of India to enhance the Ease of Doing Business in SEZs. He said the introduction of key measures such as a standardised method for calculating Net Foreign Exchange (NFE), a uniform list of services to SEZs, and the delegation of powers to Development Commissioners for seamless shifting of SEZ units within their jurisdiction showcases the government's commitment to simplifying processes and fostering a conducive business environment.

Additionally, the guidelines for the clearance of abandoned goods and uncleared cargo in Free Trade Warehousing Zones (FTWZs) are instrumental in promoting efficient logistics operations. Lal Krishna emphasised that these progressive initiatives align with the goals of the business community and will undoubtedly contribute to making SEZs more attractive for investments and business expansion.