Freeports offer significant economic benefits by reducing or eliminating customs duties, taxes, and tariffs in designated zones, creating an attractive environment for international trade.
Businesses within freeports often experience streamlined customs procedures, lower operational costs, and enhanced global competitiveness.
However, risks accompany these advantages. Concerns include the potential for tax evasion and money laundering due to the relaxed regulatory environment.
Chartered surveyors play a key role in maintaining transparency and ensuring ethical and legal standards in the development and operation of these zones.
Exactly what are freeports and how do they operate? Watch the video to find out.
