The facility of a specialized export processing Zone has boosted Visakhapatnam Export to a great extent. The VEPZ or the Visakhapatnam Export Processing Zone has a high positional advantage, because of its closeness to several ASEAN countries.
Visakhapatnam has excellent infrastructure armed with all means of transportation, well maintained roads, presence of industrial giants and a large number of skilled workers. Some of the facilities that the VEPZ provides for the exporters are:
Complete duty exemption on imports of raw materials, capital goods, spares etc.
- Free Special Import licenses
- Petroleum, Oil and Lubricant or POL products are available at international prices
- The facility of reimbursement of CST or Central Sales Tax on Products purchased from Domestic Tariff Area or DTA
- Third party export
- No restriction on foreign share holding
The Visakhapatnam Export Processing Zone provides special facilities for software exporters. More and more software firms are coming up to set up their units in the VEPZ. The VEPZ is conveniently located, being in the proximity of both the airport and the sea port of the city.
Last Updated on: 7/05/2013
