Proposal to establish Ho Chi Minh City Free Trade Zone to attract high-quality investment. Photo: Anh Tu.
On the afternoon of November 24, the National Assembly Standing Committee gave opinions on the draft Resolution amending and supplementing a number of articles of Resolution No. 98/2023/QH15 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Ho Chi Minh City (Resolution 98).
Presenting the report, Minister of Finance Nguyen Van Thang said that the goal of the resolution is to continue perfecting the legal basis, ensuring specific, superior, strict, feasible and more effective mechanisms and policies.
At the same time, it meets the urgent need to attract strategic investors, mobilize domestic and foreign resources for development investment, and meet the requirements and development orientation of Ho Chi Minh City after the merger.
After merging with Ba Ria - Vung Tau and Binh Duong, Ho Chi Minh City has expanded its development space with an area of 6,772.6 km2 and a population of 13.6 million people.
Minister of Finance Nguyen Van Thang. Photo: Quochoi.vn
According to the draft, the Government has proposed establishing a Ho Chi Minh City Free Trade Zone .
The draft stipulates the establishment of a complete legal framework for the Free Trade Zone model, including: Location, functional area structure, management mechanism, authority, land policy, investment incentives, simplification of administrative procedures and special customs mechanism.
According to the Government, this addition aims to create a unique and superior institutional space for the Free Trade Zone in Ho Chi Minh City similar to Hai Phong and Da Nang to attract high-quality investment.
At the same time, develop modern services and promote innovation, contributing to making the city an international economic, financial and commercial center of the region.
Regarding specific policies for the Free Trade Zone, the Government proposed to grant the authority to the Ho Chi Minh City People's Committee to decide on the establishment, expansion, and adjustment of the boundaries of the Free Trade Zone, considering this as a decision to locally adjust the city's general planning.
In addition, the City People's Council prescribes the order and procedures for establishing, expanding and adjusting the boundaries of the Free Trade Zone.
Along with that, it is proposed to allow land allocation and lease without auction or bidding for investment projects in free trade zones (except commercial housing projects), in order to speed up investment attraction and infrastructure development in the zone.
Reform administrative procedures and investment conditions in the direction that foreign investors can establish economic organizations without investment projects, without prior investment registration certificates, and only need to comply with market access conditions...
The Government also proposed a corporate income tax incentive of 10% for 20 years, exemption for 4 years, and 50% reduction for 9 years; along with a 50% reduction in personal income tax for 10 years for experts, scientists, and high-quality workers, which is a more outstanding incentive than current economic zones .
According to the audit report of the Economic and Financial Committee, the Standing Committee of the Committee agreed with the proposal on the necessity of amending and supplementing a number of articles of Resolution No. 98.
Source: https://laodong.vn/thoi-su/de-xuat-thanh-lap-khu-thuong-mai-tu-do-tphcm-de-thu-hut-dau-tu-chat-luong-cao-1614861.ldo
Comment (0)