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Lang Son eyes another border EZ
Prime Minister Nguyen Tan Dung has approved the establishment of the Dong Dan-Lang Son Border gate Economic Zone in the northern province of Lang Son.
The zone will consist of two major functional zones (tariff and non-tariff), is designed to play a key role in developing tourism, services and industry along with the expansion of urban areas.
It will be developed alongside the northern key economic triangle to turn the region into a key economic quadrant covering Lang Son, Ha Noi, Hai Phong and Quang Ninh.
Investors in the non-tariff zone will enjoy corporate income tax exemption for their first four profitable years, and a 50 percent tax cut for the nine following years.
Imports and recycled/processed commodities and services in the non-tariff zone will be exempt from VAT and special consumptions tax. All products processed, recycled or assembled within the non-tariff zone will be exempt from export tax.
Nine additional economic zones (EZs) along the country’s border gate region will be established by 2020, bringing the total number of EZs in the country to 30, pursuant to a plan approved by the Prime Minister.
The scheme is part of a larger economic development plan for the border gate region up to 2020. It focuses on sustainable development, long-lasting relations and political security between Vietnam’s border provinces and neighbouring provinces in China, Laos and Cambodia.
The plan calls for the construction of infrastructure and the set-up of a well co-ordinated management mechanism together with policies that would increase gross import-export revenues with bordering regions to US$43 billion by 2020.
VOV
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