Back story on the contraversial future Vietnamese SAEZ (Special Administrative and Economic Zones).
PM vows change to controversial 99-year land lease policy in Vietnam’s planned special economic zones
By Tuan Son / Tuoi Tre News
Friday, June 8, 2018, 13:58 GMT+7
Vietnamese Prime Minister Nguyen Xuan Phuc said on Thursday the government will consider scaling down the 99-year land lease policy expected to be approved for the country’s three planned special administrative and economic zones (SAEZ) following public outcry over national security concerns.
Vietnam has plans to create Phu Quoc, Van Don, and Bac Van Phong SAEZs, which will function as models for stimulating growth and attracting foreign investment.
The Phu Quoc SAEZ will be created on a namesake island off the southern province of Kien Giang, whereas the Van Don and Bac Van Phong SAEZs will be located in the northern province of Quang Ninh and the south-central province of Khanh Hoa, respectively.
The entire project is expected to cost a whopping VND1,570 trillion (US$69.16 billion) to develop.
As their names suggest, these SAEZs will function outside the scope of certain laws and policies enforced elsewhere in Vietnam, with the ultimate aim of creating attractive destinations for foreign investment.
Longer land lease terms, visa waiver policies for citizens from select countries, tax exemptions, and the legalization of activities outlawed elsewhere in the country are just a few of the conditions that would separate these zones from other Vietnamese localities.
In comparison, current laws in Vietnam allow maximum land lease terms of up to 70 years, though 50 to 55 years are most common.
[PM Phuc said] that there would be a limit on how many investors from the same country would be able to lease land in SAEZs in order to prevent monopolies and mitigate security risks.
https://tuoitrenews.vn/news/society/201 ... 46018.html
