Special Economic Zones: a Focus on Sustainable Development Abstract

In the modern world, Special Economic Zones (SEZs) became an important tool for the implementation of national industrial and trade policy. Such zones offer favorable conditions for doing business, including trade and tax incentives, facilitated administrative procedures, as well as access to infrastructure. Since their emergence, they have stimulated the development of international trade, technological exchange, innovation activity among enterprises, as well as contributed to job creation. However, in response to global challenges, the traditional concept of SEZs is undergoing a transformation. Their role goes beyond traditional economic objectives. Increasingly, the emphasis is shifting to the implementation of sustainable development principles. Today economic policy cannot be successful without taking into account environmental, social and economic dimensions. The purpose of this article is to analyze a new type of SEZs – SDG model zones. The study presents an analysis of SEZs' performance, identifies specific characteristics of the new generation of SEZs, and determines how they can contribute to achievement of the Sustainable Development Goals. It is concluded that new-generation zones can become an engine of sustainable economic growth by combining environmental initiatives, social responsibility and long-term economic benefits.