Source · Select Committees · Business and Trade Committee
Recommendation 5
5
Paragraph: 34
Freeport and investment zone success depends on long-term commitment and effective coordination.
Conclusion
Freeports and investment zones are examples of active, place-based industrial policy by Government, which account for approximately 0.2% of spending on economic affairs. They may attract additional investment and jobs to the areas in which they are located. The critical factors determining success will be long-term political commitment, delivery co-ordination between central and local government and the extent to which workers and firms are prepared to relocate to areas where clusters are developing.
Paragraph Reference:
34