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Three special economic zones approved

Released at: 16:00, 16/12/2016

Three special economic zones approved

Photo: Duc Anh/Illustration

According to the government, the development of SEZs needs careful planning to ensure success.

by Ngoc Lan

The government has approved the scheme to build special economic zones (SEZs) in Quang Ninh, Khanh Hoa and Kien Giang provinces.

The SEZs will be built in the coastal districts of Van Don in the northern province of Quang Ninh, Van Phong in the central province of Khanh Hoa and Phu Quoc Island in the southern province of Kien Giang.

The SEZs will select its own strengths to develop and exploit, create new development dynamics, ensure the allocation of resources by region and create the spread of growth around the country.

The government also requested that the People's Committees of Quang Ninh, Khanh Hoa, Kien Giang provinces coordinate with the ministries to finalize the scheme of economic-administrative division and propose the mechanisms and policies to build the Law on Special Administrative-Economic Units.

Mr. Truong Manh Hung, Deputy Head of the Investment and Promotion Agency (IPA) under the Quang Ninh Department of Planning and Investment (DPI), confirmed with VET that Quang Ninh province had proposed a scheme to build the Van Don SEZs in 2014, but no progress has been made. “Therefore, the time frame for construction has not yet been revealed,” he added.

A plan for establishing the Phu Quoc Special Economic Zone was improved by the government and was submitted for consideration to the National Assembly and the Politburo in 2015.

The plan was completed by Kien Giang province and then submitted to the Ministry of Planning and Investment (MPI) at the end of last year.

Not only Quang Ninh, Khanh Hoa and Kien Giang, but Quang Nam, Quang Ngai and Binh Dinh have also attempted to set up SEZs in their provinces. MPI said it was necessary to set up an SEZ in accordance with a plan that must be thoroughly considered instead of establishing many SEZs too quickly.

The northern Quang Ninh province is seeking capital for 43 investment projects in a range of sectors during the 2016-2020 period. Quang Ninh had 121 registered foreign-direct investment (FDI) projects with total investment capital of about $5.9 billion, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI).

Phu Quoc Island’s investment and development management board has announced that as of the third quarter, 200 projects were registered on the island with total capital of VND168 trillion ($8 billion). Registered FDI of Kien Giang stood at $3 billion in 42 projects as at the end of November 2016, according to the MPI.

Van Phong Economic Zone was established in 2006 with a total area of 150,000 hectares. It comprises 80,000 ha of sea and 70,000 ha of land under the supervision of Van Ninh District and Ninh Hoa Commune.

There are currently 136 investment projects registered with the economic zone, with total capital of more than VND33.3 trillion ($1.4 billion). As at the end of November 2016, Khanh Hoa stood at $984.5 million with 97 projects, according to the MPI.

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