Cao Thi Phi Van, Deputy Director of the Investment & Trade Promotion Centre (ITPC) of Ho Chi Minh City, said Vietnam is now one of the biggest foreign investors in Laos. Enterprises from the southern economic hub of HCM City have actively invested in the field of agriculture and forestry, she said, adding that in 2017 alone, 36 businesses from the city poured over US$40 million into projects in Laos. The workshop creates a chance for investors in Vietnam and HCM City in particularly to explore investment opportunities in the Lao special economic zone, thus further promoting trade and investment cooperation between the two countries. Thongsay Sayavongkhamdy, Director of the management board of the Savan Seno Special Economic Zone, said Savan Seno is the first special economic zone of Laos. It was established in 2003 in Savannakhet province which is considered a centre of trade, investment and services in the central region of Laos. The economic zone is located on Highway 9 connecting Vietnam, Laos and Thailand on the East-West Economic Corridor, linking with China in the north and Cambodia in the south through Highway 13, he said. Thanks to favourable transport conditions, Savan Seno is one of the most attractive destinations for foreign investment in Laos, he added. Covering nearly 1,000 hectares, the economic zone is calling for investments in the fields of production, services and trade, food and farm produce processing, bronze and timber products, automobile and motorbike assembling, garment-textile, footwear and handbag. Regarding services, investors are encouraged… [Read full story]
Photo: Quang Ngoc Why did Quang Ninh Province organize the conference? Quang Ninh Province actively proposed the project on developing rapid and sustainable economy, ensuring national defense and security and constructing the Van Don and Mong Cai Special Economic Zone models to the Politburo on September 8, 2012. The building and development of the Van Don and Mong Cai Special Economic Zone models aimed at developing outwardly orientated economy and piloting special administrative and economic models and some specific mechanisms and policies, contributing to creating an engine for the province’s socioeconomic development. According to Notice 108-TB/TW dated October 1, 2012,…... [read more]
The draft Law on Special Administrative-Economic Units, which proposes a series of land and tax incentives to attract more investment to three special economic zones in Quang Ninh, Khanh Hoa, and Kien Giang provinces, has been officially submitted to the National Assembly Standing Committee.Under the draft, individuals who earn taxable incomes at Van Don, Bac Van Phong, and Phu Quoc special economic zones will enjoy exemptions from personal income taxes for five years, but not beyond 2030, and a 50 per cent reduction in subsequent years.Foreign investment projects to be implemented for at least ten years and that satisfy conditions…... [read more]
The draft Law on Special Administrative-Economic Units, which proposes a series of land and tax incentives to attract more investment to three special economic zones in Quang Ninh, Khanh Hoa, and Kien Giang provinces, has been officially submitted to the National Assembly Standing Committee.Under the draft, individuals who earn taxable incomes at Van Don, Bac Van Phong, and Phu Quoc special economic zones will enjoy exemptions from personal income taxes for five years, but not beyond 2030, and a 50 per cent reduction in subsequent years.Foreign investment projects to be implemented for at least ten years and that satisfy conditions…... [read more]
Vu Thanh Tu Anh, Director of Research at the Fulbright Economics Teaching Programme in Ho Chi Minh City and member of the Prime Minister’s advisory team, said that the special economic zone model is expected to become a new driving force for economic growth. Vietnam has 18 economic zones, but many of them have not been prioritised for investment. To make special economic zones successful, special regulations, firm legal frameworks and dynamism and creativity are needed, Anh stressed. Deputy Minister of Planning and Investment Nguyen Van Trung said that many countries have invested much in building special economic zones. Special…... [read more]
NDO – Vietnam is promoting the establishment of three special economic zones (SEZs), including Van Don (Quang Ninh province), Bac Van Phong (Northern Van Phong, in Khanh Hoa), and Phu Quoc (Kien Giang). SEZ model is expected to create a new impetus for economic development and reform, because of its outstanding business environment, transparent institutions, and effective administration. Creating momentum from emerging economic zonesVietnam has 18 coastal economic zones (EZs) which are enjoying improved preferential policies and a more favourable investment and business environment for investors than other EZs. However, according to economists, the country still has not truly had…... [read more]
