Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
Special Economic Zones – A tool for future economic development?
 
Oliver Wyman addresses the impact of special economic zones in today’s increasingly globalised market place 
 
Dubai, United Arab Emirates, 3 September 2018:   As a national development strategy, Special Economic Zones (SEZs) have become a global phenomenon. From an estimated 500 in 1995, the number of  SEZs has grown to around 4,300 in over 130 countries, reveals a recent report by the strategy consultancy firm, Oliver Wyman. 
 
Titled “Special Economic Zones as a tool for economic development,” the report raises and addresses two critical questions on the opportunities and challenges posed by the creation of Special Economic Zones:
  1. Are Special Economic Zones still relevant and effective as a development strategy in this crowded and connected global marketplace? 
  2. What is required for Special Economic Zones to succeed in shifting national and global economic conditions?
According to the report, Special Economic Zones can be characterised as a geographically delineated area subject to differentiated regulation and administration from the host country in which it resides. These zones are created for the purpose of attracting foreign direct investment in economic activity that could not otherwise be achieved. Across the decades, Special Economic Zones have evolved from a relatively simple proposition, to an increasingly diverse range of propositions, designed to achieve more specific development objectives.
 
“Special Economic Zones evolve in four stages, and the GCC countries, are currently under stages I and II, namely the Special Manufacturing Zones (SMZs) and Special Service Zones (SSZs). Each focusing on leveraging on abundance of low cost land labour to overcome the absence of a domestic market through export,” said Anshu Vats, Partner, Oliver Wyman.
 
“There is a natural temptation to aspire to the most innovative stage III, but there is still the need for an infrastructure to accommodate this move. We can understand the need for creating these zones as the appeal is clear; knowledge based economic development with high economic value add. What is less clear is how they could succeed when global competition for dominance in such sectors is fierce. Selecting which sectors to rely on and designing the right value proposition will constitute a Special Economic Zone’s success,” he added. 
 
Special Economic Zones remain a powerful development strategy in today’s crowded global marketplace but in such a global and interconnected marketplace, their success is dependent on a number of factors including the host economy’s position in the global context, the target industries/sectors based on insight from potential investors, and defining guidelines on how to plan success for these zones. 


Posted by : Dubai PR Network Editorial Team
Viewed 7387 times
PR Category : Banking & Investments
Posted on : Monday, September 3, 2018  2:09:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : "Kazakhstan can become the main trade and economic part...
Next Story : UAE Ranks Above Global Average in Well-being, Reports Growin...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Get Festive Ready With Prestige Cosmetics Holiday Collection [8381-Views]
Chloé's Iconic “Carlina” Sunglasses In a Precious New Interpretation [5990-Views]
Maserati's innovation on board the Multi 70 trimaran: the technical partnership with Giova... [5758-Views]
PACE to Space [5057-Views]
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlets in Bur Dubai is a ... [4862-Views]
The Luxury Closet's Commitment to a More Sustainable Fashion Future to Change the way Cons... [4837-Views]
Master Chronometer: Raising Standards [4648-Views]
Travel Diaries - ECCO Shoes and Accessories [4386-Views]
Ports Customs and Free Zone Corporation celebrates the 48th National Day [4355-Views]
Arabic version of Zoho Creator launched to help businesses create custom applications [4282-Views]
J.D. Power announces 2019 UAE Sales Satisfaction Index [4252-Views]
Holiday Hair-Styling Essentials from VIERRO [4172-Views]
Formula 1 meets Virgin Hyperloop One: California-based Developer to Showcase Passenger Pod... [4148-Views]
Huge White Friday Deals Coming to Dubai Festival City Mall [4099-Views]
Indulge in New flavours sprinkled With A Dash of Bollywood & Nostalgia at Hitchki [4087-Views]
Life-changing Raffles Announced for 25th Edition of Dubai Shopping Festival [4081-Views]
Union Coop Pays Tribute to the Martyrs on Commemoration Day' [4063-Views]
Luxe Beauty Gifts for your Loved Ones this Festive Season [4032-Views]
Trading Enterprises announces the arrival of the new S60 premium sports sedan in the UAE [3965-Views]
Cisco Advances Solutions to Simplify Cybersecurity Processes in Saudi Arabia [3861-Views]
Emirates Post issues commemorative stamps to celebrate the UAE 48th National Day [3843-Views]
ENEC Releases 'Tasamoh' a Rehabilitated Green Turtle and organizes Beach Cleanup at Barak... [3758-Views]
Robinsons celebrates UAE National Day with leading Emirati brands and a host of family-fri... [3727-Views]
Dunecrest American School Celebrates the UAE National Day [3715-Views]
Revive Your Haute Couture Collections with Champion Cleaners VIP Couture Cleaning Service [3672-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories