About the news:
- Union Minister of Education and Skill Development and Entrepreneurship Shri Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ project from New Delhi
- The project will be implemented by AOM group (a leading company on promoting agricultural development and innovation), with Centurion University (state university in odisha) as the technical and knowledge partner
- In the first phase of the program, 30 farmers and 20 B.Sc./M.Sc. Agriculture and B.Tech/M.Tech Engineering students from Gajapati district, which is an Aspirational district of Odisha, will be travelling together as agri-technical and technical consultants for the agriculture SEZ (Special Economic Zone)
Static:
- Gabon is a country along the Atlantic coast of Central Africa, having french as its official language
- A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country.
- SEZs are located within a country’s national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration.
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Provision in Law:
The existing provision of Section 10AA of the Income Tax provides 15 years of tax benefit to newly established businesses or units located in (Special Economic Zone) SEZs.
Former Mou’s with Africa:
- India to get 12 cheetahs from South Africa every year for the next eight to ten year
- Collaboration in areas of climate change, environmental governance, environmental impact assessments, pollution and waste management