What are regulations on establishment of an economic zone in Vietnam?

What are regulations on establishment of an economic zone in Vietnam?

Pursuant to Article 14 of the Decree 35/2022/NĐ-CP (takes effect from 15/07/2022) stipulating establishment of an economic zone in Vietnam as follows:

1. An economic zone is classified into a coastal economic zone, bordergate economic zone and specialized economic zone (hereinafter referred to as economic zone).

2. An economic zone can be established if the following conditions are satisfied:

a) The economic zone-to-be must conform to the provincial or regional development plan; must be on the list of economic zones in a province and centrally-affiliated city;

b) The economic zone-to-be has capabilities of mobilizing resources intended for investment in construction of technical utility and social infrastructure facilities of the economic zone and development of the production and business sector;

c) The economic zone-to-be must prove its socio-economic efficiency;

d) The economic zone-to-be must ensure conformance to environmental protection conditions specified in law on environmental protection;

dd) The economic zone-to-be must ensure conformity with national defence and security requirements.

3. Documentation requirements, processes and procedures for establishment of an economic zone shall be subject to the corresponding regulations laid down in Article 15 and 16 herein.

What are documentation requirements for establishment of an economic zone in Vietnam?

Pursuant to Article 15 of this Decree stipulating documentation requirements for establishment of an economic zone in Vietnam as follows:

1. The project on establishment of an economic zone under the control of the provincial People’s Committee must contain the followings:

a) Legal basis for and necessity of establishment of that economic zone;

b) Evaluation of the current state, geographical, natural, resource and socio-economic factors and conditions, comparative advantages and disadvantages of the area to be developed into an economic zone in comparison to others nationwide;

c) Assessment and interpretation of capabilities of satisfying the conditions for establishment of the economic zone that are prescribed in clause 2 of Article 14 herein (enclosing relevant documents);

d) The proposed plan for development of an economic zone shall contain the followings: developmental objectives, dimensional scale, features and functions of the economic zone; developmental orientations of sectors and industries; plan for spatial development and development of functional sections inside the economic zone; investment, construction and development plan and schedule of the economic zone;

dd) Recommended solutions and implementation thereof;

e) Representation of the plan for establishment of the economic zone on the map at scale 1:10.000 - 1:25.000.

2. Transmittal form submitted to the Prime Minister by the provincial People’s Committee for proposal for establishment of the economic zone.

3. Such documentation shall be made into 10 sets, comprising at least 02 original ones (01 original set submitted to the Prime Minister) and 09 sets submitted to the Ministry of Planning and Investment for evaluation purposes as prescribed in Article 16 hereof.

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