Value Creation Model for Attracting and Developing Investment in the Kish Free Zone

Abstract

Investment attraction is considered one of the most critical economic variables in most countries worldwide, as creativity and innovation in this area can help achieve a nation's broader economic goals. The present study aims to propose a value creation model with an approach to attracting and developing investment in the Kish Free Zone, considering Iran's specific conditions. In this research, interviews were conducted with experts in the Kish Free Zone using a researcher-developed interview protocol. The sampling method employed in this study was snowball sampling. The interviews were fully analyzed using the qualitative data analysis software MAXQDA, following a three-stage coding process, including open coding, axial coding, and selective coding. The analysis of the research findings indicated that "achieving value creation through the approach of attracting and developing investment" is the central category. Furthermore, key strategies for value creation in the Kish Free Zone include supporting the regulation of free zones, revising and amending free zone laws, enhancing competitiveness, improving foreign relations, and promoting a knowledge-based economy. Finally, to assess the validity and reliability of the designed model, the content value of each indicator in measuring the proposed concepts was analyzed through structural equation modeling. The proposed conceptual model and the qualitative results derived from this research can significantly contribute to the body of knowledge on value creation with an approach to attracting and developing investment in free zones. Additionally, it can facilitate its expansion to other free zones and enable qualitative comparisons.