Authors : Sari Wahyuni and Noverio Cesar
Abstract: Globalization has brought the idea of special instrument which will enable a country to be competitive in attracting investments. One of the most viable instruments is Special Economic Zones (SEZ). The success of SEZs development in China has inspired many countries to develop the same concept, including Southeast Asian countries. This paper aims to know how Thailand and Vietnam as members of Southeast Asian countries, developing success special economic zones in their countries. Thailand has successfully brought the local economies to the global value chain through SEZ. While Vietnam has recorded remarkable economic growth through the development of SEZs. This study will discover some aspects in comparing the development of SEZs in both countries. Several key success factors of Thailand founded in this research are: clear incentive schemes; strong government participation in promoting local economies; good investment services. While in Vietnam, the success factors are: strong government direction; high-tax incentives.
Sari Wahyuni and Noverio Cesar, 2019. Comparison of Special Economic Zones in Thailand and Vietnam. International Business Management, 13: 460-469.