Of the total investment capital, VND16.7 trillion will come from the state budget and the rest will be from municipal and provincial budgets as well other legal sources.
The program will develop 16 coastal economic zones
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Besides, the program also targets to promote the development and application of science and technology in production of the areas.
Specifically, the program also will complete 200-250 kilometers of main roads, water drainage works and concentrated waste water treatment projects with capacity of 13,000-14,000 cu.m per day at 16 coastal economic zones.
The construction of 200-220 kilometers of roads, concentrated waste water treatment works, electricity lines and warehouses at 21 border economic zones will be also planned under the program.
The investment will be also poured into the construction of 80-100 kilometers of roads and 15-20 concentrated waste water treatment works in 35-40 industrial zones.
Land clearance and infrastructure construction will be also conducted at three high-tech parks and six high-tech application industrial areas.
Developing the zones is an important, consistent and correct policy of Vietnam on the way of industrialization and modernization and a facilitator to realize the goal of making Vietnam a basically modern industrial country by 2020. After 20 years of construction and development, the zones have come in various forms of development and positively contributed to the country’s socio-economic development.
According to the Ministry of Planning and Investment’s Economic Zones Management Department, Vietnam had 325 industrial parks (IPs) and economic zones (EZs) on an area of 94,900 ha as of June 2017, of which rentable industrial land accounted for approximately 64,000 ha or 67 per cent of total natural land area. Among them, 220 IPs have gone into operation with a total natural land area of nearly 61,000 ha and 105 IPs with 34,000 ha are under construction.
The tenant force in IPs has been gradually shaped and developed strongly, including many world-leading giants like Hyosung Group, Samsung, LG (South Korea) and Robert Bosch Group (Germany), to boost the chance of joining global value chains. The performance of the zones has become an important motive force for socioeconomic development.
Developing of the zones’ models together with investment incentive mechanisms and policies has facilitated the utilization of geo-economic advantages and the application of simplified administrative procedures. This has thus created attractive investment destinations and changed the investment and business environment of Vietnam. Engaging in the zones, investors – particularly foreigners – will reduce a lot of time for investment preparation like accessing land and building technical infrastructure. In addition, a number of technical facilities in the zones such as roads and wastewater collection systems are built before investors start production.
Besides, the models of the zones can receive many investment and business fields and industries. Therefore, they meet diversified investment demand from investors. Typically, the zones’ models have their particular development orientations and investment attraction advantages, and thus they do not compete with each other fiercely.
