5

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
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age 2.1 yrs
Report published 26 Apr 2024