Bac Van Phong Special Economic Zone project halted: PM

June 27, 2020 | 08:55

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The making of the Bac Van Phong Special Economic Zone master plan in the south-central province of Khanh Hoa has been temporarily suspended following Prime Minister Nguyen Xuan Phuc’s order.

bac van phong special economic zone project halted pm

The making of the Bac Van Phong Special Economic Zone master plan in the south-central province of Khanh Hoa has been temporarily suspended following Prime Minister Nguyen Xuan Phuc’s order (Photo: hanoimoi.com.vn)

Hanoi - The making of the Bac Van Phong Special Economic Zone master plan in the south-central province of Khanh Hoa has been temporarily suspended following Prime Minister Nguyen Xuan Phuc’s order.

The master plan’s resumption will be considered once the Law on Special Administrative-Economic Units is approved by the National Assembly.

The bill, slated to be passed in 2018, was controversial due to national security concerns over a stipulation which would allow foreign investors to lease land for up to 99 years in three special economic zones. The Vietnamese parliament had to postpone the bill pending revisions.

In the meantime, the PM asked the Khanh Hoa provincial People’s Committee to accelerate the development of the provincial planning between 2021 and 2030, as well as adjust the general planning on the construction of the Van Phong Economic Zone.

The provincial People’s Committee said it had drafted tasks and prepared to select planning consultancy contractors for the Bac Van Phong Special Economic Zone project.

However, these procedures have been disrupted as the Law on Special Administrative-Economic Units, the legal basis for the plan, has not yet been adopted.

According to the tentative plan, the Bac Van Phong Special Economic Zone will include a non-tariff area of 920ha along with facilities and industrial centres outside the non-tariff area such as Doc Da Trang Industrial Manufacturing Area of 300ha.

VNA

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