Latest news with #EconomicZones
Express Tribune
2 days ago
- Business
- Express Tribune
CAREC states invited to join Pakistan's SEZs
Listen to article Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Thursday invited member states of the Central Asia Regional Economic Cooperation (Carec) to integrate their value chains with Pakistan's Special Economic Zones (SEZs) and explore opportunities for cross-border industrial clusters by leveraging Pakistan's preferential trade agreements with China, Asean and the Middle East. He extended the invitation while speaking at the inaugural ceremony of the fifth annual Carec Institute Research Conference, held in collaboration with the University of Sargodha. Themed "Carec Connectivity: Promoting Trade and Trade Facilitation," the conference brought together a diverse group of national and international stakeholders. "Today, intra-regional trade among Carec countries (excluding China) accounts for only 7% of total trade. In contrast, Asean bloc member countries have over 22% of total trade among themselves," he said. The Carec region, with a population of nearly two billion and vast reserves of energy, minerals and talent, was not short on potential, Iqbal said and stressed the need for a unified development strategy backed by collective action. Sharing the new development vision called Uraan Pakistan, the minister said it was based on five strategic pillars including exports, equity and empowerment, e-Pakistan, environment, energy and infrastructure. This strategy is not isolated from regional ambitions; rather it is aligned fully with the Carec Vision 2030. He pointed out that Pakistan was expanding high-value exports like IT, halal food and engineering goods. Pakistan's IT exports, for instance, have crossed $3.5 billion and are growing at an annual pace of 20%, empowering youth through digital skills.
Japan Today
3 days ago
- Business
- Japan Today
Trump's drive for ocean bed mining threatens law of the sea
US President Donald Trump signed an executive order in April to expand permitting for deep-sea mining in both domestic and international waters using an obscure 1980 US law By Amélie BOTTOLLIER-DEPOIS U.S. President Donald Trump's move to sidestep global regulations and begin pushing for seabed mining in international waters could pose a wider threat of competing countries claiming sovereignty over the ocean, experts say. Trump last month signed an executive order to accelerate the permit-granting process for deep-sea mining in domestic and international waters, citing an obscure 1980 U.S. law. And the Canadian deep-sea mining frontrunner The Metals Company has already filed an application in the United States to conduct commercial mining on the high seas -- bypassing the International Seabed Authority (ISA). This is the body entrusted by a United Nations convention with managing the ocean floor outside of national jurisdictions. Ocean law is largely guided by that accord -- the United Nations Convention on the Law of the Sea (UNCLOS), first signed in 1982 to prevent "a competitive scramble for sovereign rights over the land underlying the world's seas and oceans," according to Maltese diplomat Arvid Pardo, the convention's forebearer. The United States never ratified the convention, which took effect in 1994, though it has applied many of its clauses. Coalter Lathrop, an attorney at the U.S. law firm Sovereign Geographic, told AFP that the United States is "a huge beneficiary of the parallel set of customary international law rules" despite not being a party to UNCLOS. For instance, the United States has one of the largest Exclusive Economic Zones (EEZ) which gives states sovereignty over maritime areas up to 200 nautical miles (370 kilometers) from their coastline -- protecting them from foreign fishing boats, among other extractive industries. If the U.S. enjoys the benefits of ocean law, Lathrop argues, "but then you disregard the other part of the package deal -- that the seabed and its minerals in areas beyond national jurisdiction are the common heritage of humankind -- that is going to be destabilizing, to say the least, for the general legal order of the oceans." "U.S. unilateral permitting could lead to the disintegration of a system that has been carefully curated and created by the United States, largely for its own benefit," he added. The U.S. and Canadian moves sparked an international outcry from ISA member states, including China, whose foreign ministry spokesman warned it violates international law. ISA secretary general Leticia Carvalho expressed similar concern, saying that "any unilateral action... sets a dangerous precedent that could destabilize the entire system of global ocean governance." The Metals Company does maintain contracts with ISA members like Japan -- where it has a partnership with smelting company Pamco. And experts note such ISA member states could invoke their obligation to UNCLOS to enforce maritime law on The Metals Company via these proxies, even if it ultimately receives a permit from the Trump administration. Guy Standing, an economist at the University of London, told AFP: "It's the most dangerous thing he's done so far," referring to Trump. If marine laws "were to come sort of unraveled," Standing said, "you could have a carve up in different parts of the world, with Russia, China and America carving up the Arctic." However, not all scholars in the field are in agreement. James Kraska, a professor of international maritime law at U.S. Naval War College, said "it's naive to think the United States has that kind of influence." "I just disagree with the people that are saying that it's somehow a legal obligation to comply with a treaty that you never joined," he told AFP. "I just can't see any way that it's unlawful. I understand that there's sort of political opposition to it, but I would just distinguish between politics and the law." © 2025 AFP
France 24
4 days ago
- Business
- France 24
Trump's drive for ocean bed mining threatens law of the sea
Trump last month signed an executive order to accelerate the permit-granting process for deep-sea mining in domestic and international waters, citing an obscure 1980 US law. And the Canadian deep-sea mining frontrunner The Metals Company has already filed an application in the United States to conduct commercial mining on the high seas -- bypassing the International Seabed Authority (ISA). This is the body entrusted by a United Nations convention with managing the ocean floor outside of national jurisdictions. Ocean law is largely guided by that accord -- the United Nations Convention on the Law of the Sea (UNCLOS), first signed in 1982 to prevent "a competitive scramble for sovereign rights over the land underlying the world's seas and oceans," according to Maltese diplomat Arvid Pardo, the convention's forebearer. The United States never ratified the convention, which took effect in 1994, though it has applied many of its clauses. Coalter Lathrop, an attorney at the US law firm Sovereign Geographic, told AFP that the United States is "a huge beneficiary of the parallel set of customary international law rules" despite not being a party to UNCLOS. For instance, the United States has one of the largest Exclusive Economic Zones (EEZ) which gives states sovereignty over maritime areas up to 200 nautical miles (370 kilometers) from their coastline -- protecting them from foreign fishing boats, among other extractive industries. If the US enjoys the benefits of ocean law, Lathrop argues, "but then you disregard the other part of the package deal -- that the seabed and its minerals in areas beyond national jurisdiction are the common heritage of humankind -- that is going to be destabilizing, to say the least, for the general legal order of the oceans." "US unilateral permitting could lead to the disintegration of a system that has been carefully curated and created by the United States, largely for its own benefit," he added. 'Unraveled' The US and Canadian moves sparked an international outcry from ISA member states, including China, whose foreign ministry spokesman warned it violates international law. ISA secretary general Leticia Carvalho expressed similar concern, saying that "any unilateral action... sets a dangerous precedent that could destabilize the entire system of global ocean governance." The Metals Company does maintain contracts with ISA members like Japan -- where it has a partnership with smelting company Pamco. And experts note such ISA member states could invoke their obligation to UNCLOS to enforce maritime law on The Metals Company via these proxies, even if it ultimately receives a permit from the Trump administration. Guy Standing, an economist at the University of London, told AFP: "It's the most dangerous thing he's done so far," referring to Trump. If marine laws "were to come sort of unraveled," Standing said, "you could have a carve up in different parts of the world, with Russia, China and America carving up the Arctic." However, not all scholars in the field are in agreement. James Kraska, a professor of international maritime law at US Naval War College, said "it's naive to think the United States has that kind of influence." "I just disagree with the people that are saying that it's somehow a legal obligation to comply with a treaty that you never joined," he told AFP. "I just can't see any way that it's unlawful. I understand that there's sort of political opposition to it, but I would just distinguish between politics and the law." © 2025 AFP
The Print
27-04-2025
- Business
- The Print
Job in your home town: Centre mapping job data on PM Gati Shakti portal
If the initiative succeeds, first-time job seekers may no longer need to leave their native places or migrate to other cities for employment. New Delhi [India], April 27 (ANI): After Covid introduced us to the practice of work from home, the Central government is working on the innovative idea of 'job at your home town'. The Ministry of Labour and Employment is developing a system where job seekers will get options to filter jobs by location, sector, employer, pay scale, required skills, and other attributes, a government source told ANI. The department is mapping job data on the PM Gati Shakti portal. The Ministry's National Career Service (NCS) portal functions as a digital marketplace connecting employers and job seekers – effectively aligning demand and supply in the job market. Currently, 41 lakh employers have registered on the platform, and over one crore potential job seekers are listed. In the 2024-2025 financial year alone, approximately 2.7 crore job vacancies have been posted. By integrating PM Gati Shakti with the NCS portal, these employment opportunities can be geo-tagged. A dedicated mobile app would enable youth to search for nearby job opportunities within a 20-40 km radius. The app would allow filtering by multiple criteria, empowering young people who prefer staying near their hometowns to find suitable employment easily. This system would particularly benefit first-time job seekers, those with limited skills, and individuals who aren't yet highly employable, allowing them to earn while remaining within their own communities. The Ministry is actively working on integrating NCS job data with the PM GatiShakti platform. Jammu & Kashmir and Gujarat have already made progress in this direction, the government source told ANI. The Ministry has been in discussions with Bhaskaracharya National Institute for Space Applications and Geoinformatics (BISAG) since last year to advance this initiative, aiming to provide a robust facility for youth in the coming year, he said. The Ministry is directly engaged with the PM Gati Shakti platform by onboarding and geo-tagging establishments under its two major social security arms – the Employees' Provident Fund Organization (EPFO) and the Employees' State Insurance Corporation (ESIC). Approximately 13 lakh establishments registered with EPFO, 51 under ESIC, and 104 ESIS hospitals are now mapped as a data layer on the PMGS platform. This visibility helps assess and plan multimodal connectivity infrastructure like roads and railways. These layers will also assist EPFO and ESIC in evaluating current and future project requirements. Additionally, a survey of 268 Special Economic Zones (SEZs) identified through the PM Gati Shakti platform is being examined to extend social security coverage to a larger workforce. The Ministry also plans to enhance engagement with the PMGS platform by onboarding other schemes like NCS Centres – particularly those dedicated to differently-abled individuals – to promote inclusive development. This initiative targets support for the poorest and most marginalised sections of society, aligning with India's commitment to equitable growth. Launched in 2021, PM Gati Shakti represents a transformative approach aimed at driving economic growth and sustainable development. Powered by clean energy and Sabka Prayas (everyone's efforts), it has the potential to create significant job and entrepreneurial opportunities for all. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Arabian Business
17-04-2025
- Business
- Arabian Business
Saudi Arabia offers tax exemptions and visa support to attract investors to Special Economic Zones
Saudi Arabia is offering tax exemptions and visa support to attract investors to the Kingdom's Special Economic Zones as it looks to diversify the economy and create a business-friendly environment. Reflecting its ongoing commitment to fostering a dynamic and attractive investment environment, the Economic Cities and Special Zones Authority (ECZA) has launched a new campaign to spotlight its strategic partnerships with key Saudi government entities. These collaborations are designed to provide targeted incentives and regulatory benefits for investors operating in the Kingdom's Special Economic Zones (SEZs). Saudi tax exemptions and visa support The initiative underscores ECZA's efforts to strengthen government integration and deliver a transparent, simplified regulatory ecosystem that supports high-quality investments. These partnerships address critical regulatory areas such as legal and dispute resolution, labour, standards and metrology, and food and drug compliance, among others. Nabil Khojah, Secretary General of ECZA, said: 'We are working closely with various government entities to activate a suite of attractive investment incentives, such as tax exemptions and streamlined labour regulations, positioning SEZs as a competitive and promising destination for investors. 'As these partnerships come into effect, both new and existing investors will benefit from more flexible regulations and facilitated government services, maximising investment potential and improving operational efficiency.' The partnerships include agreements with the Ministry of Justice and the Saudi Centre for Commercial Arbitration to establish dedicated arbitration and reconciliation centres within SEZs, aligned with international best practices. ECZA is also working with the Zakat, Tax and Customs Authority and the Ministry of Human Resources and Social Development to: Offer tax and customs exemptions Facilitate visa issuance Provide financial equivalence exemptions for foreign talent In addition, ECZA has partnered with the Saudi Standards, Metrology and Quality Organisation (SASO) and the Saudi Food and Drug Authority (SFDA) to support regulatory compliance and facilitate the market entry of products and services. Through these partnerships, ECZA seeks to bolster digital integration by exchanging data and activating digital platforms, particularly the One-Stop-Shop, which connects investors with all relevant entities and contributes to expediting processes and increasing the efficiency of services. These initiatives reflect ECZA's commitment to facilitating the investor's journey and providing practical, cost-efficient solutions that minimise investment risks and enhance the ease of doing business in SEZs, supporting the Ministry of Investment's broader efforts to attract quality investments aligning with the goals of Saudi Vision 2030.
