Tuesday, 21 Aug 2018
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Vietnam reconsiders special economic zone bill

Updated at Monday, 06 Aug 2018, 10:02
The Hanoitimes - "The timing for the National Assembly`s consideration of the draft law will depend on the process of public consultation. In summary, it is a very cautious approach," said a parliamentary official.
Discussion of the draft law on special administrative-economic zone (SEZ) was not included in the agenda of the upcoming 26th session of the National Assembly (NA)'s Standing Committee, as the bill is being reconsidered, Nguyen Hanh Phuc, chairman of the NA's Office told local media. 

The SEZ draft law is being reviewed thoroughly, of which every opinion of the public will be taken into consideration, Phuc added.
 
Illustrative photo.
A view of Van Don district, Quang Ninh province. Illustrative photo.
As the voting on the SEZ draft law will be moved to the next semiannual session in October, there is still time for the government to revise and finalize the law. 

"The timing for the National Assembly's consideration of the draft law will depend on the process of public consultation. In summary, it is a very cautious approach," he added.

The draft law on SEZs has stirred controversial opinions during previous discussion sessions over the necessity of land leasing duration up to 99 years and tax incentives.

The government later proposed to apply the Law on Land with regard to the duration of land leasing in SEZs, as well as to remove the exceptional case of land leasing tenure of up to 99 years. 

In a previous statement, Vietnam's President Tran Dai Quang stated the draft law is expected to create breakthroughs in mechanisms and preferential incentives to boost economic development and investments in SEZs.

"The formulation of SEZ draft law will contribute to the completion of the socialist-oriented market economy, implementing tailor-made economic policies for Vietnam's specific needs," President Quang noted.

From August 8 - 13 of the 26th session, the National Assembly's Standing Committee will discuss seven draft laws, including the revised Education Law, Law on amendments and supplements to several articles of the Law on Higher Education, Law on Animal Husbandry, Law on Horticulture, Law on the People's Public Security Forces (revised), Law on Special Amnesty (revised), and Law on Anti-corruption (revised).  
Hai Yen
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