Visakhapatnam, rightly called the 'City of Destiny', is a major industrial center in the state of Andhra Pradesh. Several industrial units in the public and private sectors are located in Visakhapatnam. These include Port and Shipping, Oil Refinery, Steel, Fertilizer and Heavy Engineering to name a few. The city has strong industrial base, productive workforce and peaceful industrial relations. The city boasts of low cost, high quality social infrastructure - medical, educational, residential and recreational - that match the best available anywhere in the country.

VSEZ, formerly known as VEPZ, was established in the year 1989. Set up in a sprawling 360 acres of prime land in one of the fastest growing cities of India, Visakhapatnam Special Economic Zone offers state of the art infrastructure coupled with liberal package of incentives, concessions and support services. The export-friendly administrative set up ensures disposal of all approvals and clearances instantly.

The administrative head of the Visakhapatnam Special Economic Zone is the Development Commissioner. He is also the Zonal Head for all Special Economic Zones and Export Oriented Units in the states of Andhra Pradesh, Telangana, Chhattisgarh and Yanam (Union Territory).