Impact of the "green channel" mechanism for industrial parks on Vietnam's socio-economy

Mr. Nguyen Chi Dung, Minister of Planning and Investment, said that in this amendment to the Investment Law, the Government proposed to add regulations on special investment procedures. This is to shorten project implementation time, create favorable and competitive mechanisms and attract strategic investors.

Accordingly, special investment procedures apply to a number of projects in the fields of innovation, research and development; semiconductor integrated circuit industry, design technology, manufacturing components, integrated electronic circuits, chips, and high-tech fields, high-tech products are prioritized and encouraged for investment according to the Prime Minister's decision... in industrial parks, export processing zones, high-tech zones and economic zones. However, the drafting agency has not dared to boldly propose applying special procedures to all investment projects in industrial parks, export processing zones, not just high-tech projects as stated in the proposal.

Green lane mechanism has not been applied to all investment projects in industrial parks.

If supported, we propose that all projects in industrial parks enjoy the green channel mechanism to encourage investment and attract capital. That is, when investors register for investment, they will be granted a license within 15 days. After receiving the investment certificate, they do not have to carry out procedures on construction, environment, fire prevention and fighting, etc. but can do it immediately.

In the context of global fluctuations and supply chain challenges, Vietnam has implemented a "green channel" mechanism to maintain and ensure the continuous operation of industrial zones and enterprises producing essential goods. This mechanism not only has a profound impact on the economy but also has a strong influence on society, contributing to the stability and sustainable development of the country.

The green channel mechanism plays an important role in helping Vietnam maintain production and stabilize the economy in difficult times. This brings positive signals in both the short and long term.

Mr. Vu Hong Thanh, Chairman of the National Assembly 's Economic Committee, suggested that the Government consider limiting special procedures for a number of large, specific projects that have spillover effects and need to be implemented immediately so as not to miss investment opportunities. The "green channel" mechanism will help industrial parks in Vietnam continue to operate, ensuring the supply of goods and raw materials for domestic and foreign markets. Industrial parks play an important role in the production and export of goods, especially in industries such as textiles, electronics, food and consumer goods. Thanks to this mechanism, businesses can still transport raw materials and products conveniently and quickly, minimizing the risk of supply chain disruption.

Foreign investment continues to flow into Vietnam and the green channel mechanism will help create a stable and attractive business environment.

Another positive sign is that domestic and foreign investment capital continues to flow into Vietnam and the green channel mechanism will help create a stable and attractive business environment, helping investors trust in the government's ability to manage the crisis. This not only facilitates new investment projects but also promotes the expansion of production scale of enterprises already present in Vietnam. Many large corporations in the electronics and technology industry have increased investment in industrial parks to take advantage of this preferential mechanism.

At the same time, this mechanism helps maintain jobs for millions of workers in industrial zones. By ensuring production activities, workers can still maintain their income, reduce unemployment pressure and stabilize their lives. This not only helps protect social security but also minimizes negative impacts on the domestic consumer economy. Retaining workers during difficult times is an important factor to ensure a quick recovery when the economy returns to normal.

Over the years, industrial parks have played a pivotal role in Vietnam’s economy, especially in boosting exports and generating revenue for the state budget. As industrial parks continue to operate normally thanks to the green channel mechanism, Vietnam’s economic growth has remained stable. This helps to minimize the impact of external factors such as epidemics or the global economic crisis.

While industrial parks remain in operation, businesses continue to contribute to the state budget through corporate income tax, import-export tax and other contributions. This helps the state have more financial resources to implement socio-economic development policies, invest in infrastructure and improve people's lives.

The stability of industrial parks not only benefits direct workers but also promotes the development of related service industries such as logistics, transportation, catering and healthcare. Areas surrounding industrial parks are often places where ancillary services are rapidly developed, thereby creating jobs and income for local people. When the supply chain is not disrupted and essential goods are guaranteed to circulate, people are less likely to face shortages or sudden price increases. This helps stabilize life and reduce social pressure in the context of crisis.

This mechanism will help maintain jobs for millions of workers in industrial zones.

Over the past time, Vietnam has demonstrated its ability to maintain a stable supply chain even in difficult conditions. This helps to consolidate Vietnam's position as a reliable manufacturing and supply hub in the region and the world, attracting more international investors and partners.

When businesses benefit from the green channel mechanism, they are able to improve their production capacity, improve technology and develop sustainable business models. This helps to enhance Vietnam's competitiveness in the global supply chain, while opening up opportunities for long-term economic development.

Source: https://thoibaonganhang.vn/tac-dong-cua-co-che-luong-xanh-cho-khu-cong-nghiep-den-kinh-te-xa-hoi-viet-nam-157019.html