The proposal involves the drafting of a new law, provisionally called the Industrial Zone and Economic Cluster Law.

Deputy Minister Do Thanh Trung revealed the proposed policies during a press conference organized by the Government Office in Hanoi on April 3, reported the local media.

The policies, categorized into six groups, target various aspects of industrial growth and align with global trends such as green and digital economies.

The first policy group focuses on supporting projects to foster inter-sectoral linkages within industrial zones and economic clusters. Policy Group 2 centers on supporting specialized industrial zones, including those dedicated to high-tech manufacturing, eco-friendly practices, and specialized technologies.

The ministry also proposed developing modern and smart industrial zones to attract investment in sectors like digital economy, green technology, semiconductor manufacturing, and renewable energy.

Integrated urban development is emphasized in Policy Group 4, aiming to create urban areas that complement industrial zones and generate employment opportunities.

Enhanced incentives and support are proposed in Policy Group 5, including regulatory measures related to taxation, fees, financial policies, and capital allocation. Finally, the ministry aims to streamline administrative procedures to create a more favorable environment for investors, introducing pilot programs and new regulations.

The proposal underscores Vietnam’s efforts to create a conducive environment for industrial development and enhance its competitiveness in the global market. Through regulatory, financial, and infrastructural measures, Vietnam seeks to position itself as an attractive destination for investment and industrial innovation.

Saigon Times