How special should be Vietnam’s special economic zones?
There are two major reasons for Vietnam to be determined to develop SEZs. First, it is encouraged by the legendary development of the SEZs in China, Singapore, UAE and British Virgin Islands. Second, the momentum for domestic economic growth is critical.
Vo Dai Luoc, a renowned economist, when discussing the legal mechanism for SEZs, said developing SEZs are nests for phoenixes to come to lay eggs. If Vietnam builds small nests that fit sparrows, phoenixes won’t come.
The compilers of the draft law on special administrative-economic units, imbued with the spirit of ‘special mechanism’, have suggested a new model of administrative organization.
Under the draft law, people’s council and people’s committees in SEZs will not exist, but there will be an institution to rule the SEZs with 116 rights. The SEZ heads will be able to make investment decisions for A-group investment projects, except important projects at the national level.
According to Tran Duy Dong, a member of the compilation committee, SEZs will still belong to provinces, but even provinces’ chairs won’t intervene into the SEZs’ internal affairs. The head of SEZs will be appointed by the PM.
“Not only suggesting the special regime, we have also designed socio-economic policies with outstanding features to be sure that Vietnam’s SEZs can be competitive with other SEZs,” Dong said.
The tentative policies are unprecedented in Vietnam, and have stirred controversy.
Some experts pointed out that if local authorities don’t have people’s committees and people’s councils, this will violate the Constitution.
The number of experts who oppose the suggested regime with no people’s committee and people’s council is so high that Tran Dinh Thien, head of the Vietnam Economics Committee, predicted that the radical idea may not be advocated.
“Even progressive experts also don’t support new policies, let alone conservative people,” he said.
“SEZs need to have a special regime. However, they (the experts) fear that the new regime would go beyond the current legal framework,” he commented.
“It is necessary to lay down special regime and policies for SEZs to develop, provided that the policies aren’t contrary to the Constitution,” he added.
Nguyen Ba An, former deputy director of the Development Policy Institute, also said Vietnam won’t have SEZs if it only offers additional investment incentives compared with the current laws.
He said that Vietnam has been too slow in building a legal framework for SEZs.
Related News
Vietnam ready to export first batch of sweet potatoes to China
13:57 | 06/04/2023 Anti-Smuggling
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
More News
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export