SEZ for financial services could attract business

(CNS Business): International financial centres such as the Cayman Islands could attract more direct foreign investment by introducing a special economic zone (SEZ) for financial services, Ingrid Pierce, partner with Walkers, has suggested. Some may argue that small offshore centres were themselves special economic zones, but within such jurisdictions they might benefit from having a zone that gives extra preferential terms to encourage investors for inward investment, Pierce said. However, political stability, rule of law, an educated work force, and sound and sustained financial infrastructure were essential, so IFCs must have high education standards in place and get crime under control, she said. Read more on CNS Business