SAEZs to spur Vietnam’s economic developmentThe draft Law on Special Administrative-Economic Zones (SAEZs), scheduled for adoption in early next month, reflects Vietnam’s sharp change in mindset in investment attraction, with incentives expected to help lure in investment and boost the country's economic development. “Investors highly appreciate this law as it mirrors Vietnam’s radical change in the mindset of investment attraction,” Phuc said. Under the draft law, Vietnam will allow heads of the zones to hold 126 types of competences in decision making for the development of all sectors in the zones. The sectors include finance, budget, public investment, investment, business, planning, construction, urban, housing and property, natural resources, environment, transport, and industry. Meanwhile, Phu Quoc is concentrated on resort-based tourism, eco-tourism, international exhibitions, commercial and shopping services, asset management services, high-quality healthcare and educational services, and bio-technology.

Source: VietNamNet News May 17, 2018 03:56 UTC