Inside Chu Lai Open Economic Zone in central Quang Nam Province (Photo:VNA) Hanoi (VNA) - The Ministry of Planning and Investment is developing adecree aimed at boosting the development of industrial zones (IZs) and economiczones (EZs).
Theministry on its website said the issuance of the new decree was pressing as newmodels of IZs were already making an appearance, such asindustrial-urban-service zones, and for the support of IZs and eco-industrialzones.
Thesenew models of IZs would help enhance the competitiveness of IZs throughdiversifying investments, reducing production costs and promoting efficient useof resources but they needed mechanism for development.
Thenew decree was expected to wipe out inconsistencies in recently-issued legaldocuments, such as the Law on Investment and Decree 118/2015/ND-CP, whichchanged the procedure of investing in industrial and economic zones, and toimprove competitiveness in attracting investment.
Accordingto Tran Duy Dong, director of the ministry’s Economic Zone ManagementDepartment, the decree would introduce more attractive incentives to drawinvestment and simplify procedures.
Dongsaid the duration for the incentive of 10 percent corporate tax rate onprojects in EZs was proposed to increase from the current 15 years to 30 years.
Theincentive would be provided to projects of a large scale, investing intechnical infrastructure or using high technology, Dong said.
Thedepartment’s statistics showed that as of the end of November, there were 324IZs and 16 EZs nationwide, with areas of 91,800ha and 815,000ha, respectively.
Thefigures excluded two EZs – Thai Binh EZ in northern Thai Binh province and NinhCo EZ in northern Nam Dinh province -- which were still in the planning stage.
Ofthem, 220 IZs were operational, with occupancy rate of 73 percent.
Regardinginvestment attraction, IZs attracted more than 730 foreign-invested projectsthis year, with total registered capital of 11.2 billion USD. So far, IZsnationwide attracted nearly 7,000 foreign-invested projects, worth 110.2billion USD, more than 60 percent of which was disbursed.
Domesticinvestments in IZs totalled 705.6 trillion VND in nearly 6,500 projects, sofar.
Thedepartment said there were 36 IZs and non-tariff areas founded in 16 EZs.
Asof November, EZs attracted 155 trillion VND (6.9 billion USD) worth ofinvestments in developing the technical infrastructure system, of which foreigninvestments accounted for some 16 percent.
EZshave attracted 354 foreign-invested projects up till November, with totalregistered capital of 42 billion USD, plus more than 1,070 domestic projectsworth 347.9 trillion.-VNA
Theministry on its website said the issuance of the new decree was pressing as newmodels of IZs were already making an appearance, such asindustrial-urban-service zones, and for the support of IZs and eco-industrialzones.
Thesenew models of IZs would help enhance the competitiveness of IZs throughdiversifying investments, reducing production costs and promoting efficient useof resources but they needed mechanism for development.
Thenew decree was expected to wipe out inconsistencies in recently-issued legaldocuments, such as the Law on Investment and Decree 118/2015/ND-CP, whichchanged the procedure of investing in industrial and economic zones, and toimprove competitiveness in attracting investment.
Accordingto Tran Duy Dong, director of the ministry’s Economic Zone ManagementDepartment, the decree would introduce more attractive incentives to drawinvestment and simplify procedures.
Dongsaid the duration for the incentive of 10 percent corporate tax rate onprojects in EZs was proposed to increase from the current 15 years to 30 years.
Theincentive would be provided to projects of a large scale, investing intechnical infrastructure or using high technology, Dong said.
Thedepartment’s statistics showed that as of the end of November, there were 324IZs and 16 EZs nationwide, with areas of 91,800ha and 815,000ha, respectively.
Thefigures excluded two EZs – Thai Binh EZ in northern Thai Binh province and NinhCo EZ in northern Nam Dinh province -- which were still in the planning stage.
Ofthem, 220 IZs were operational, with occupancy rate of 73 percent.
Regardinginvestment attraction, IZs attracted more than 730 foreign-invested projectsthis year, with total registered capital of 11.2 billion USD. So far, IZsnationwide attracted nearly 7,000 foreign-invested projects, worth 110.2billion USD, more than 60 percent of which was disbursed.
Domesticinvestments in IZs totalled 705.6 trillion VND in nearly 6,500 projects, sofar.
Thedepartment said there were 36 IZs and non-tariff areas founded in 16 EZs.
Asof November, EZs attracted 155 trillion VND (6.9 billion USD) worth ofinvestments in developing the technical infrastructure system, of which foreigninvestments accounted for some 16 percent.
EZshave attracted 354 foreign-invested projects up till November, with totalregistered capital of 42 billion USD, plus more than 1,070 domestic projectsworth 347.9 trillion.-VNA
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