The Model of Value Creation with the Approach of Attracting and Developing Investment in Free Zones According to the Data Foundation Method (Case Study: Kish Free Zone)

Abstract

Investment attraction is considered one of the most important economic variables in most countries of the world, so that most of the countries' economic goals can be achieved with initiatives in this field. The aim of the current research is to provide a model of value creation with the approach of attracting and developing investment in free zones according to the conditions of Iran. In the present study, experts were interviewed in free zones using the researcher-made in-depth interview tool. Interviews were analyzed with Max Kyuda qualitative data analysis software and three-stage open, central and selective coding. The research findings include causal conditions (national factors, globalization of free zones, infrastructural and technical, depth of knowledge, culture building, quality of statistics and information), intervening conditions (political and economic factors, instability of management in free zones, competitiveness and legal system) and finally background conditions (environmental conditions in terms of territorial development of free zones, potentials of free zones, scientific potentials, geopolitical situation, scientific potentials, economic, political and international situation). The analyzes show that "achieving value creation, and value creation with the approach of investment attraction and development" is the central category and the most important value creation strategy in free zones, support for the organization of free zones, revision of laws and free zones, improvement of foreign relations, the development of the knowledge-based economy and the strengthening of competitiveness. Finally, in order to validate the designed model, the content value of each index in measuring the proposed concepts was analyzed by structural equation modeling.