With the rise of globalization in the 20th century, an important development has been the creation of Special Economic Zones (SEZ).

SEZs can differ across multiple characteristics, such as: geography, industry type, tax relief and subsidies to name but a few. In the broadest sense, SEZs are simply a legal zone whose rules are different than in the rest of their country.

Choose an existing economic zone somewhere in the developing world. Assume that zone will change part of its structure for example, add or remove a regulation and a plausible justification for this change. In a 6-10 paragraph letter explain how you would conduct a cost-benefit analysis of that change. More so, assume you are writing this letter from the standpoint of an external consultant providing technical assistance to the Minister of Finance in that country. Finally, make an intuitive prediction on whether the benefits of the proposed changes would exceed the cost and why?