Business
Foreign house ownership rights in special administrative economic zone proposed
  • | dtinews.vn, LD | September 07, 2017 08:35 AM
Authorities of Quang Ninh Province are seeking the government’s approval for 75 preferential policies and mechanisms for Van Don Special Administrative Economic Zone.

The proposals are related to incentives in taxes, land, and immigration and special administration model in the zone.

Under the province’s proposals, rights to trade and own real estate in the zone would have to be considered for foreigners. The province has also proposed the visa exemption for air travellers staying less than 60 days in the zone.

  

Van Don Special Administrative Economic Zone


Van Done Special Administrative Economic Zone has been recommended to follow the model of one-level administration and the head of the zone will be authorised to decide land lease terms and wage contracts.

At a recent meeting with Quang Ninh authorities, Deputy Prime Minister Vuong Dinh Hue urged the province to work with relevant ministries and sectors to draft a Law on Special Administrative Economic Zones.

The zone is part of a government-approved plan to build three such zones in the country, with the others being Van Phong in the central province of Khanh Hoa and Phu Quoc in the Mekong Delta’s Kien Giang province.

Van Don has an important position as it lies on the strategic transit route from East Asia to Southeast Asia and from ASEAN to China; in Vietnam - China “two corridors, one belt” co-operation area; in Nanning - Singapore economic corridor; and in extended Tonkin Gulf inter-regional co-operation area.

At present, several big projects are being carried out at Van Don Special Administrative Economic Zone, including an international airport, a luxury tourist site along with a highway linking Van Don with Haiphong City and Ha Long City.

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