Hai Phong consults free trade zone and duty-free zone models

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According to statistics, as of November 30, 2023, Hai Phong had a total of 904 foreign investment projects with a total investment capital of nearly 30 billion USD. Of which, in industrial parks and economic zones, there were 520 projects with a total capital of 25.98 billion USD. In the first 11 months of 2023, Hai Phong was one of the leading localities in the country in attracting FDI with 3.2 billion USD (reaching 160% of the 2023 plan).

With the above results, in 2023, Hai Phong received many expectations from the Central Government in its role as a driving force in the economic development of the entire Red River Delta. One of these expectations is to establish the Southern Hai Phong Economic Zone associated with the construction of free trade zones and duty-free zones with many preferential mechanisms and outstanding policies to attract large investors in the world , especially US investors. It can be said that this is a very strategic task, deeply affecting the socio-economic development of Hai Phong City in the coming time.

Therefore, recently, sharing at the Workshop "Building capacity in establishing free trade zones and duty-free zones in Hai Phong city", the leader of Hai Phong Economic Zone Management Board said: Recognizing this importance, Hai Phong is urgently conducting research and proposing to the Central and the Government on the policy framework for free trade zones and duty-free zones in the process of establishing this new economic zone.

According to the general assessment, the model of free trade zones and duty-free zones in Hai Phong City is still a very new concept and is being researched to propose a set of appropriate policy mechanisms. Therefore, the workshop is an opportunity for Hai Phong City to learn about the new model, share practical experiences and management methods from experts from the US Embassy and the US Customs and Border Protection Department to update, edit and supplement the research on free trade zones and duty-free zones that the Hai Phong research team is conducting.

Hải Phòng tham khảo mô hình khu thương mại tự do và khu phi thuế quan

Leaders of Hai Phong Economic Zone Management Board and US Embassy in Vietnam

According to Head of Hai Phong Economic Zone Management Board Le Trung Kien, the workshop is a follow-up to the success of the city delegation led by Party Central Committee member and Hai Phong City Party Secretary Le Tien Chau in the United States at the end of November. The trip opened up prospects and opportunities for cooperation between Hai Phong city and potential partners from the United States.

Speaking at the workshop, Mr. Kully Nelson, Commercial Attaché of the US Embassy in Vietnam, emphasized: The US and Vietnam have upgraded their relationship to a Comprehensive Strategic Partnership for Peace, Cooperation and Sustainable Development. This event also demonstrates the strategic relationship between the two countries.

Qua đó, Đại sứ quán Mỹ, các chuyên gia US CBP tiếp tục chia sẻ những kinh nghiệm thực tiễn, phương thức quản lý mô hình các khu thương mại tự do, khu phi thuế quan cho các cơ quan chức năng ở Hải Phòng. Ngoài giới thiệu về lịch sử hình thành khu thương mại tự do thành công tại Mỹ, các chuyên gia US CBP cũng chỉ ra các phương thức hoạt động, giám sát, quản lý hàng hóa, sản xuất, xuất nhập khẩu và trách nhiệm của các bên liên quan trong các khu thương mại tự do của Mỹ hiện nay.

American experts exchange experiences on how to build a duty-free zone with Hai Phong. (Photo: HB)

Through this, the US Embassy and US CBP experts continue to share practical experiences and management methods of free trade zones and duty-free zones with authorities in Hai Phong.

In addition to introducing the history of successful free trade zones in the US, US CBP experts also pointed out the methods of operation, supervision, management of goods, production, import and export and the responsibilities of relevant parties in current US free trade zones.

It is known that, in addition to the desire to develop a free trade zone, Hai Phong city is also focusing on developing a duty-free zone. The city is urgently accelerating the progress of the Xuan Cau industrial park and duty-free zone in the Lach Huyen International Gateway Port area with an area of 752 hectares, contributing to the implementation of Action Program No. 76 of the Standing Committee of the City Party Committee. By 2025, Hai Phong will focus on developing and expanding 15 new industrial parks with a total area of 6,418 hectares.

Currently, Hai Phong is urgently preparing to build a new economic zone in the South of the city on an area of over 20 thousand hectares following the model of an ecological economic zone, sustainable development integrated with circular economic activities, applying many outstanding preferential policies associated with the development of a free trade zone to welcome investors from the United States and other countries.

As of November 30, 2023, Hai Phong city has a total of 904 foreign investment projects with a total investment capital of nearly 30 billion USD. Of which, in industrial parks and economic zones, there are 520 projects with a total capital of 25.98 billion USD. In the first 11 months of 2023, Hai Phong is one of the leading localities in the country in attracting FDI with 3.2 billion USD (reaching 160% of the 2023 plan).

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