Location and key success factors of special economic zone in Thailand

Abstract

This paper proposes a selection of different types of Special Economic Zone (SEZ) in Thailand. Following this, the locations and key success factors of SEZs in Thailand are also provided. The first part of the paper presents all factors that are analytical or essential to the success of all types of SEZ in the world by reexamining all literature which can be found in most of the academic databases. All of those factors from the review then underwent the correlation test. The regression model with Ordinary Least Square method is created in this step. The result of the test indicated that there are eight factors which were found to be correlated to the success or survival of SEZs around the world. These eight factors are location advantage and macroeconomic of the country, industrial investment support, investment cost and value of trade, skill levels and availability of human resource, management and service, government policies, law and regulation, and stability and consistency of the government. Twenty-eight provinces from seventy-seven provinces across the country in Thailand were then selected because of two reasons, namely the government policy in promoting special economic area in Thailand and the consensus of experts from Delphi Technique. Lastly, all selected provinces are tested using the model provided in the mentioned steps. The results reveal that the most appropriate types of SEZ in Thailand are the Export Processing Zone, Specialized Zone, and Freeport Zone. The research indicates that Bangkok, Trat, Pathumthani, Chonburi, Phuket, Suratthani, Udonthani, and Srakaew are the eight provinces which have such perfect environments and factors that contribute to the success of SEZ in Thailand.

Establishment of Bukit Kayu Hitam as a Special Border Economic Zone (SBEZ): Global lessons

“…Furthermore, there several critical success factors that can lead to successful SEZs, i.e. : (1)macroeconomic and location advantages of a country; (2) stability and consistency of the government; (3) support on the industrial investment; (4) cost efficiency; (5) ability to offer best human resources services; (6) high-quality infrastructure, (7) management and service (8) law, regulations and government policy (Pakdeenurit et al, 2017;Wahyuni et al, 2013). Thus, looking into the frameworks discussed in previous research, it is a serious challenge to incorporate all these factors to ensure that Bukit Kayu Hitam will become the prime economic border zone in the northern part of the Peninsular of Malaysia.…”

Sustainable and Special Economic Zone Selection under Fuzzy Environment: A Case of Pakistan

“…Pakistan is among one of the worst water-stressed countries. Therefore, freshwater availability (FA2) is a big determinant of success in SEZ [4,7,9,50]. Thirdly, technical support and scientific labs (FA3) help industries to mitigate the adverse environmental effects and provides state of the art solutions in a given context [9,29,36].…”

“…The level of water stress (EN2) is an important decision element [13,32,37]. The level of air pollution (EN3) in the surrounding area [7,13] and land loss (EN4) due to the land allocation for industrialization [1] are also important factors of sustainability. For main criteria industrial suitability (IN) 5 core industries agriculture (IN1), textiles (IN2), iron and steel (IN3), mines/minerals (IN4), and pharmaceuticals (IN5) were chosen based on CPEC agreed on terms of collaboration between China and Pakistan [38].…”

“…The second objective is to reduce unemployment in remote and alienated areas at large [4,5]. The third objective is to facilitate an economic policy or take benefit of bilateral economic engagement between countries [6,7]. The fourth objective is to use these SEZs as an experimental place for the application of certain approaches and policies [3,8].…”

Determinants of Industrial Parks Performance in Ethiopia Emphasis on Bole Lemi Industrial Park

“…In the overall, the problems that have been encountered by many African parks were problems related to important determinants for the success of an Industrial Park and described by Pakdeenurit et al (2014) as location advantage; macroeconomics of the country; industrial investment support; investment cost; skilled labour; management and service; government policies; laws and regulations; stability and consistency of the government or regrouped under Yuan & Eden (1992) model of performance as determinant factors associated to zone and national business environment; international environment and role of the state.…”