Legal regulations – leverage in increasing the sustainability of free economic zones

Abstract

Free Economic Zones, or we can also find them under the name of Free Enterprise Zones, aim to accelerate the country's economy, being part of its territory. The activity of the free economic zones is regulated by the law no. 440 of 27.07.2001 regarding its activity. Free economic zones have become a lifeline for countries with weak economies, in turn help to increase the country's economy by attracting new investors both domestic and foreign to free economic zones, create new jobs, help to attract and implement new technologies, and last but not least apply good advanced production and management experiences. The only other thing we can mention is that people living in these areas benefit from customs and tax exemptions. Like the activity of domestic companies, the activity of free economic zones has a beginning (launch) and an end (termination of the free zone activity). The economic activity in these zones is regulated on the basis of the local legislation, with the indication of certain specific provisions for the activity of the residents of the free economic zones or sub-zones or free enterprise zones, which are indicated in the law on their activity.