Vietnam to introduce exceptional policies for special economic zones

Wednesday, 2018-04-18 16:49:41
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The meeting on how to develop Vietnam's special economic zones
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NDO - Prime Minister Nguyen Xuan Phuc has requested that the policies for Vietnam’s three special economic zones stand out so as to drive the development of these units.

The Government leader made the statement on April 18 while chairing a meeting on how to develop special administrative economic units.

Vietnam is planning to establish three special economic zones in Van Don, Bac Van Phong, and Phu Quoc, and a law concerning them is expected to be presented to the National Assembly in May.

PM Phuc said the institutions in these zones must be distinctive, permissive, and consistent so that they can compete internationally while not running counter to the Constitution.

He also called on the Ministry of Planning and Investment, which is responsible for formulating the law on special administrative economic units, to conduct a thorough assessment of the short-term and long-term impacts of the policies.

Meanwhile, the Ministry of Home Affairs was asked to prepare the local government staff for work as soon as the law comes into effect.

The PM instructed that the governments of these special economic zones should be lean and efficient with a strong degree of devolution and engagement of talented people.

At the meeting, PM Phuc also urged the provinces where the special economic zones are planned to rein in land management in order to prevent manipulative land transactions.