Tay Ninh expects breakthrough development from Moc Bai Border Gate Economic Zone

The People's Committee of Tay Ninh province has completed a pilot project of a number of specific mechanisms and policies for the Moc Bai Border Gate Economic Zone and is awaiting the Central Government's approval. If approved, this will be a major turning point to help the province create a breakthrough in attracting investment, developing the border trade economy and forming a modern urban area in the southwestern gateway of the country.

Choosing the right investor - The key to making a difference

Moc Bai Border Gate Economic Zone has long been considered a strategic “trade gateway” between Vietnam and Cambodia, playing a key role in connecting the East-West economic corridor. However, to fully exploit its potential, Tay Ninh has determined that it needs a separate, more flexible and innovative mechanism.

In recent times, the province has proactively developed a pilot project for a number of mechanisms and policies specifically applicable to the Moc Bai Border Gate Economic Zone. The provincial People's Committee has submitted the project to central ministries and branches and is awaiting appraisal.

Moc Bai International Border Gate, Tay Ninh.

At a recent working session after directly surveying the economic zone, Chairman of Tay Ninh Provincial People's Committee Nguyen Van Ut emphasized that the proposal to pilot a special mechanism is not only a need, but also a "lever" to develop a modern border economic zone, deeply integrating, linking trade - services - tourism - industry - urban areas.

The Provincial Chairman requested the Department of Finance to establish a specialized working group, coordinate with relevant units to closely monitor the project appraisal process from central ministries and branches, ensure timely updates and feedback on recommendations when necessary.

One of the highlights of the project that Tay Ninh submitted to the Central Government is the mechanism for selecting and giving incentives to strategic investors. Accordingly, the province proposed to build a list of priority industries to attract investment that are strategic, modern, and create high added value.

This list includes industries such as: innovation centers, research and development (R&D) centers, logistics centers, ICD dry ports, high-end hotels, resorts, eco-tourism, entertainment complexes integrating golf courses, casinos and high-end services associated with smart, green - clean - beautiful urban areas.

Not stopping there, Tay Ninh also sets out strict criteria to clearly determine the capacity of strategic investors. The criteria include financial capacity, experience in implementing similar projects and especially the commitment to disburse investment on schedule.

Specifically, the province requires investors participating in priority projects to commit to disbursing investment capital within 5 years of approval. At the same time, investors must proactively advance funds for the State to carry out compensation, resettlement support, and site clearance - an important condition to speed up implementation progress.

The process of selecting strategic investors is also built by Tay Ninh in a transparent and public manner, through the form of approving investment policies for investors who meet the preliminary requirements on capacity, experience and finance.

In addition, incentive policies are also carefully studied, focusing on tax reduction, land rent exemption and reduction, priority access to modern technical infrastructure, and selection of urban project development areas associated with public transport routes, facilitating the implementation of compact, smart urban models.

Special financial policy - Increasing resources for development

Tay Ninh province also proposed to retain 100% of the central budget revenue (including revenue from import-export activities) generated in Moc Bai Border Gate Economic Zone to reinvest in developing the internal technical infrastructure system and connecting the economic zone with neighboring areas.

This proposal is of particular importance in the current context, when the need for investment in synchronous and modern infrastructure for the economic zone is urgent but local budget resources are limited. Allowing the retention of all revenue sources will create conditions for Tay Ninh to be more proactive in coordinating resources, thereby gradually completing key projects, creating a solid foundation to attract large investors.

At the same time, the province also proposed to allow flexible application of regulations on urban development planning associated with public transport in the direction of TOD (Transit Oriented Development).

Specifically, the Provincial People's Committee proposed to be allowed to adjust local planning indicators to suit actual development requirements without having to establish or adjust higher-level plans, to avoid prolonging the time and slowing down the project implementation progress.

Entrance gate to Moc Bai International Border Gate.

Another notable point in the project is the mechanism to facilitate the development of trade - services - tourism at Moc Bai Border Gate Economic Zone. Tay Ninh proposes to exempt specialized inspections for goods that have been certified as conforming to standards and regulations and have internationally recognized assessment results according to treaties to which Vietnam is a member.

This mechanism not only helps save customs clearance time and reduce logistics costs, but also demonstrates a strong administrative reform mindset, creating a favorable, transparent and effective investment and business environment.

In addition, Tay Ninh also proposed special policies for domestic and foreign tourists when visiting and shopping at the commercial and tourist areas in the economic zone.

Specifically, the proposal allows domestic tourists traveling in groups organized by travel companies, as well as international tourists, to buy goods to bring back to the country without having to pay import tax, value-added tax and special consumption tax, on condition that the total value of goods does not exceed VND13 million/person/day.

This is a breakthrough policy, aiming to build Moc Bai into a combined shopping and tourism destination, increasing its attraction to domestic and foreign tourists, especially the markets of Cambodia, Thailand, Laos and further to other ASEAN countries.