Ministry boosting econ zones

2024.03.26 22:15:43

Ministry boosting econ zones

Inside Chu Lai Open Economic Zone in central Qua 三ng Nam Province. The Ministry of Planning and Investment aims to boost industrial and economic zone development. — VNA/VNS Photo Nguyễn Sơn

HÀ NỘI – The Ministry of Planning and Investment is developing a decree aimed at boosting the development of industrial zones (IZs) and economic zones (EZs).

The ministry on its website said the issuance of the new decree was pressing as new models of IZs were already making an appearance, such as industrial-urban-service zones, and for the support of IZs and eco-industrial zones.

These new models of IZs would help enhance the competitiveness of IZs through diversifying investments, reducing production costs and promoting efficient use of resources but they needed mechanism for development.

The new decree was expected to wipe out inconsistencies in recently-issued legal documents, such as the Law on Investment and Decree  一 一 八/ 二0 一 五/NĐ-CP, which changed the procedure of investing in industrial and economic zones, and to improve competitiveness in attracting investment.

According to Trần Duy Đông, director of the ministry’s Economic Zone Management Department, the decree would introduce more attractive incentives to draw investment and simplify procedures.

Đông said the duration for the incentive of  一0 per cent corporate tax rate on projects in EZs was proposed to increase from the current  一 五 years to  三0 years.

The incentive would be provided to projects of a large scale, investing in technical infrastructure or using high technology, Đông said.

The department’s statistics showed that as of the end of November, there were  三 二 四 IZs and  一 六 EZs nationwide, with areas of  九 一, 八00ha and  八 一 五,000ha, respectively.

The figures excluded two EZs -- Thái Bình EZ in northern Thái Bình Province and Ninh Cơ EZ in northern Nam Định Province -- which were still in the planning stage.

Of them,  二 二0 IZs were operational, with occupancy rate of  七 三 per cent.

Regarding investment attraction, IZs attracted more than  七 三0 foreign-invested projects this year, with total registered capital of $ 一 一. 二 billion. So far, IZs nationwide attracted nearly  七,000 foreign-invested projects, worth $ 一 一0. 二 billion, more than  六0 per cent of which was disbursed.

Domestic investments in IZs totalled VNĐ 七0 五. 六 trillion in nearly  六, 五00 projects, so far.

The department said there were  三 六 IZs and non-tariff areas founded in  一 六 EZs.

As of November, EZs attracted VNĐ 一 五 五 trillion (US$ 六. 九 billion) worth of investments in developing the technical infrastructure system, of which foreign investments accounted for some  一 六 per cent.

EZs have attracted  三 五 四 foreign-invested projects up till November, with total registered capital of $ 四 二 billion, plus more than  一,0 七0 domestic projects worth VNĐ 三 四 七. 九 trillion. - VNS


Ministry boosting econ zones