Law1/6/2009In May 2002, Parliament approved the Special Economic Zones (SEZ) Law No. 83 of 2002, which provided for the establishment of special zones for industrial, agricultural or service activities designed specifically with the export market in mind. The law allows firms operating in these zones to import capital equipment, raw materials and intermediate goods duty-free. Companies established in the new zones will also be subject to lower corporate taxes and exempt from sales and indirect taxes. They will also operate under more flexible labor regulations and enjoy other incentives. The law’s executive regulations were issued in September 2002. Currently, one special economic zone is operational in the North West Gulf of Suez; it is managed by the General Authority for the Special Economic Zone North West Gulf of Suez.