Free Zone vs. Economic Zone: Bahrain International Investment Park Presents the Advantages of Economic Zone Model

Gerry Sharkey,  Project Director at BIIP (Bahrain International Investment Park), talks about the difference between free zone and an economic zone.

According to Sharkey, “Well, there are no disadvantages to the model that we have. Saudi Arabia does not like the whole concept of free zones so when the BIIP was being developed and the whole concept was being made a reality, it was decided not to go down the free zone route. The main reason is that when you produce a product in a free zone and you go to export your product, there is a duty of 5% upon that finished product.”