Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures
This paper reviews the policies and regulations for special economic zones and other spatial development modalities in the countries within proximity of the Eastern Corridor in South Asia, and it assesses whether those policies and regulations are...
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/undefined/534711636533994012/Special-Economic-Zones-and-Industrial-Parks-in-South-Asia-An-Assessment-of-Their-Regulatory-Structures http://hdl.handle.net/10986/36585 |
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okr-10986-365852021-11-18T05:10:43Z Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures Galal, Rami SPECIAL ECONOMIC ZONES REGULATORY FRAMEWORK SMALL AND MEDIUM-SIZED ENTERPRISES BUSINESS ENVIRONMENT TAXATION This paper reviews the policies and regulations for special economic zones and other spatial development modalities in the countries within proximity of the Eastern Corridor in South Asia, and it assesses whether those policies and regulations are effectively designed. The assessment finds mixed results. On the positive side, governments in these countries exhibit a strong political commitment to the zones’ success, providing them with dedicated policies of both fiscal incentives and regulatory concessions, combined with administrative simplification to help zone developers and tenant enterprises. However, these arrangements include some notable shortfalls. For example, some incentives are inconsistent with the zone objectives, violate some international regulations, or miss necessary business facilitation measures. Moreover, there is no mechanism to evaluate the effectiveness and cost-efficiency of different incentives. Zone tenancy requirements are not always well specified, feasible, or consistent with zone objectives. As for the regulatory and institutional structures of zone programs, there are some common shortfalls, especially in terms of (a) clarity of zone objectives, (b) the roles of different agents, (c) the autonomy and inclusivity of those agents, and (d) the agents’ authority to carry out their responsibilities, and there are some shortfalls in the resources that agents need to manage operations effectively. To maximize the benefits from these zones, governments of the region could adopt reforms to ensure that incentives and tenancy requirements are aligned with zone objectives and that regulatory frameworks are clear, fair, and effective. 2021-11-17T15:16:41Z 2021-11-17T15:16:41Z 2021-11-10 Report http://documents.worldbank.org/curated/undefined/534711636533994012/Special-Economic-Zones-and-Industrial-Parks-in-South-Asia-An-Assessment-of-Their-Regulatory-Structures http://hdl.handle.net/10986/36585 English Equitable Growth, Finance and Institutions Insight; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Foreign Trade, FDI, and Capital Flows Study South Asia South Asia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
SPECIAL ECONOMIC ZONES REGULATORY FRAMEWORK SMALL AND MEDIUM-SIZED ENTERPRISES BUSINESS ENVIRONMENT TAXATION |
| spellingShingle |
SPECIAL ECONOMIC ZONES REGULATORY FRAMEWORK SMALL AND MEDIUM-SIZED ENTERPRISES BUSINESS ENVIRONMENT TAXATION Galal, Rami Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| geographic_facet |
South Asia South Asia |
| relation |
Equitable Growth, Finance and Institutions Insight; |
| description |
This paper reviews the policies and
regulations for special economic zones and other spatial
development modalities in the countries within proximity of
the Eastern Corridor in South Asia, and it assesses whether
those policies and regulations are effectively designed. The
assessment finds mixed results. On the positive side,
governments in these countries exhibit a strong political
commitment to the zones’ success, providing them with
dedicated policies of both fiscal incentives and regulatory
concessions, combined with administrative simplification to
help zone developers and tenant enterprises. However, these
arrangements include some notable shortfalls. For example,
some incentives are inconsistent with the zone objectives,
violate some international regulations, or miss necessary
business facilitation measures. Moreover, there is no
mechanism to evaluate the effectiveness and cost-efficiency
of different incentives. Zone tenancy requirements are not
always well specified, feasible, or consistent with zone
objectives. As for the regulatory and institutional
structures of zone programs, there are some common
shortfalls, especially in terms of (a) clarity of zone
objectives, (b) the roles of different agents, (c) the
autonomy and inclusivity of those agents, and (d) the
agents’ authority to carry out their responsibilities, and
there are some shortfalls in the resources that agents need
to manage operations effectively. To maximize the benefits
from these zones, governments of the region could adopt
reforms to ensure that incentives and tenancy requirements
are aligned with zone objectives and that regulatory
frameworks are clear, fair, and effective. |
| format |
Report |
| author |
Galal, Rami |
| author_facet |
Galal, Rami |
| author_sort |
Galal, Rami |
| title |
Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| title_short |
Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| title_full |
Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| title_fullStr |
Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| title_full_unstemmed |
Special Economic Zones and Industrial Parks in South Asia : An Assessment of Their Regulatory Structures |
| title_sort |
special economic zones and industrial parks in south asia : an assessment of their regulatory structures |
| publisher |
World Bank, Washington, DC |
| publishDate |
2021 |
| url |
http://documents.worldbank.org/curated/undefined/534711636533994012/Special-Economic-Zones-and-Industrial-Parks-in-South-Asia-An-Assessment-of-Their-Regulatory-Structures http://hdl.handle.net/10986/36585 |
| _version_ |
1764485567971590144 |