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

Author

Listed:
  • Md. Mahmudul Alam

    (National University of Malaysia (UKM), Malaysia)

  • Rafiqul Islam Molla

    (International Islamic University, Bangladesh)

  • Md. Wahid Murad

    (University of South Australia, Australia)

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.

Suggested Citation

  • Md. Mahmudul Alam & Rafiqul Islam Molla & Md. Wahid Murad, 2014. "Malaysia’s proactive economic zone regime as a model to emulate for success of Bangladesh economic zone," Journal of Developing Areas, Tennessee State University, College of Business, vol. 48(2), pages 399-407, April-Jun.
    • Handle: RePEc:jda:journl:vol.48:year:2014:issue2:pp399-407
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    More about this item

    Keywords

    Economic zone; Globalization; Industrialization; Malaysia; Bangladesh;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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