The correct answer for this question is option 3: Special Economic Zones. Special Economic Zones (SEZs) are designated areas within a country that are created to promote economic growth and development.
SEZs are typically located near major ports or by border areas and offer various incentives and benefits to attract both domestic and foreign investments. These incentives often include tax breaks, relaxed regulations, customs duty exemptions, streamlined administrative procedures, and infrastructure support.
SEZs are designed to create a conducive environment for businesses to thrive and contribute to the overall economic growth of a country. They provide a platform for industries to operate efficiently and competitively, leading to increased exports, job creation, and technological advancements.
While options 1, 2, and 4 - Export Processing Zones, Duty Free Tariff Zones, and Technology Parks - may also play a role in promoting economic growth and development, they do not encompass the comprehensive package of benefits and incentives offered by Special Economic Zones.
Overall, Special Economic Zones are considered engines for economic growth and are supported by quality infrastructure and an attractive fiscal package. They have been successful in attracting investments and stimulating economic activity in many countries around the world.