SEZ stands for [[1]].

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Detailed Solution

SEZ stands for Special Economic Zones. These are areas or regions developed by central or state governments to attract foreign investment. SEZs have better transportation, electricity, water supply, logistics, and educational and recreational facilities. For five years, companies that establish themselves in special economic zones do not have to pay taxes to the government. Moreover, labour laws have been liberalised to attract MNCs or Multi-National Corporations.

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