The Cayman Islands government has signed an agreement with Cayman Enterprise City Ltd (CEC) that allows the developer the exclusive right to construct, develop, operate and maintain a special economic zone, intended to attract global science, technology, commodities and derivatives, media, and educational entities to the Cayman Islands.
Special economic zones (SEZs) are regions specially established in a country, for which government concessions have been made in order to stimulate economic growth.
Although SEZs exist in a number of developed and emerging economies, the SEZ in Cayman will be the first in the Caribbean region, said Jason Blick, who is the CEO of CEC.
