The Impact of Free Zones on Sea Ports: A Case Study of The Misurata Port and its Economical Hinterland

Abstract

Free zones are one of the features of important economic resources that work to increase the movement of trade exchange between different countries, through the advantages that have through being free from customs restrictions, which helps in attracting investors to establish projects in them, which enhances and strengthens trade, and it contributes to establishing giant economic spaces and conglomerates. Therefore, Libya took the initiative to establish a free zone in the city of Misurata, through its seaport and its economical hinterland, through laws and legislation defining investors' rights and duties. Through the results of the study, it was found that the existence of the free zone in Misurata led to an increase in the movement of ships and thus increased exports and imports from the port, in addition to the acquisition of technology through direct participation with the foreign investor, that leading to the increase in national income from foreign exchange reserves, and providing job opportunities, and raising the standard of living.