Wine of Moldova Airport – yes, that is the winning name in a new name survey for Moldova’s Chisinau International Airport, Meininger.de reports. This rather peculiar name beat strong contenders such as Eugen Dora, the Moldovan composer and Olga Culic, Moldova’s first female pilot. Surely the dream of any country’s wine marketing body! And one would have high expectations of the wine shop at Wine of Moldova Airport…
Airport shopping is a favourite activity for travellers. Not only does it help to spend the time before departure, the offering is usually exclusive and interesting and there is the duty free factor. Duty free shopping is not limited to airports, however. Special economic zones can sometimes be a whole province or even country!
These zones are usually focused at attracting foreign investment but can have other goals such as to expand industrialisation, to strengthen governance arrangements and to provide a framework for predictable financing to enable long term planning.
China has just recently approved 7 new free trade zones in an attempt to stimulate the economy and open China to foreign investors.
The new free trade zones (FTZs) joining Shanghai, Tianjin, Fujian and Guangdong, are Liaoning, Zhejiang, Henan, Hubei, Sichuan and Shaanxi provinces, as well as Chongqing municipality, bringing the total to 11 FTZs.
“Customs authorities will promote internet-based customs services, seek integrated customs clearance and build “single windows” for foreign trade procedures, according to the statement. Chinese customs will also tap the role of new types of foreign trade in sustaining growth and restructuring, including cultural trade, cross-border e-commerce and service outsourcing. The country will also create a law-based business environment and safeguard fair trade order, such as protecting intellectual property rights according to law, the statement said.” Read more
While free trade zones and tax havens stimulate economies and are favourite trading grounds for major corporations, individuals can of course also enjoy the financial loopholes. Although often criticized, tax havens stay popular as they offer security, privacy and convenience. Tempted? Here are some of the best tax havens in the world.