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Conducive business environment for SEZs will uplift the economy - 7 months ago, 11 July 21:45

By: Peter Warutere

Since China established the first special economic zone (SEZ) in 1979, many other countries have adopted the model to drive their economic growth, expand exports and create jobs.

The economies of India, Dubai, Korea, Mauritius, Singapore and others that have created new investment opportunities in exclusive business zones have benefitted from rapid economic growth. Even though there are a few classic cases of failure, newcomer Kenya hopes to use SEZ to achieve economic transformation where other policy prescriptions have failed.

The most captivating story about SEZ is how China transformed Shenzhen from a small fishing village with a population of 30,000 to a cosmopolitan of more than 12.5 million people with a gross domestic output of over $330 billion by 2017 estimates.

MIRACLE CITY

The “miracle” city is now the fourth-largest (after Shanghai, Beijing and Tianjin) population-wise but has the second-highest per capita income of $2,100 — just short of ...
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