3 SEZs to cost Vietnam whopping $70 billionVietNamNet Bridge - Experts have voiced concern about the huge amount of capital, VND1,570 trillion, needed to develop three special economic zones (SEZs), saying this will put a heavy burden on the economy. Vietnam needs huge amount of capital to develop three SEZsThe Ministry of Finance (MOF) estimates Vietnam will need capital, equal to US$70 billion, to develop the three SEZs – Van Don, Bac Van Phong and Phu Quoc. The Ministry of Finance (MOF) estimates Vietnam will need capital, equal to US$70 billion, to develop the three SEZs – Van Don, Bac Van Phong and Phu Quoc. According to Du, Phu Quoc SEZ can develop tourism, while Van Don would have great development opportunities if it links with the Chinese economy. Quang Ninh, where Van Don SEZ is located, for example, has proposed retaining 100 percent of local tax collections until 2030.

Source: VietNamNet News April 23, 2018 05:03 UTC