Industrial zone development model is a commonly used method in developing countries to generate economic growth, to attract foreign direct investment, to increase employment and to improve living conditions. But many developing countries which are implementing the industrial zone development projects are facing a number of problems. Although the every project has its own problems, the lack of the appropriate scheme of feasibility study can be observed from the severe delay in the industrial zone development projects in developing countries. Based on the failed and prolonged stories of the projects in developing countries around the world, demand of new scheme of feasibility study is sought. Implementation of these projects would be more successful if a feasibility study system for industrial zone development projects could cover more broad range such as market demand feasibility, technical feasibility, economical feasibility, financial feasibility, environmental feasibility and concurrence of stakeholders. This paper analysis the possibility of new scheme of feasibility study and gives some suggestions for implementing industrial zone development projects in developing countries successfully. The new scheme of feasibility study encourages implementation of not only existing industrial zone development projects but also new projects in developing countries.