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Malaysia’s proactive economic zone regime as a model to emulate for success of Bangladesh economic zone

Md. Mahmudul Alam (), Rafiqul Islam Molla and Md Murad ()
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Rafiqul Islam Molla: International Islamic University, Bangladesh

Journal of Developing Areas, 2014, vol. 48, issue 2, 399-407

Abstract: Economic zone or export processing zone in a country is a purpose-built industrial park with infrastructure designed to suit the needs of foreign as well as local investors. In order to tempt foreign investors into the zones the host developing countries offer a variety of incentives. By encouraging and motivating the multinational companies to settle their Greenfield investments in developing countries, the economic zone scheme acts as a tool for empowering the local economy to gain multiple capabilities and go global increasingly to facilitate income convergence between the industrialized and the developing countries through equitable sharing of the gains from trade. Nonetheless, it is not a magic wand. Its experiences in Malaysia and Bangladesh clearly show that it can create wonder only when it is appropriately designed and managed. It is suggested that Bangladesh borrows a leaf from the rich experiences of Malaysia’s economic zone model, to restructure and revitalize her economic zone scheme for greater success.

Keywords: Economic zone; Globalization; Industrialization; Malaysia; Bangladesh (search for similar items in EconPapers)
JEL-codes: F21 H87 J24 L52 O14 O25 (search for similar items in EconPapers)
Date: 2014
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Handle: RePEc:jda:journl:vol.48:year:2014:issue2:pp399-407