Industrial Park Real Estate - Draft law on industrial park, economic zones, and the impacts
- After 30 years of development, Industrial Parks (IPs) and economic zones (EZs) have attracted significant investments and accelerated the industrialization process. However, they have also faced certain limitations in planning and investment efficiency. Consequently, the Ministry of Planning and Investment is currently reviewing a draft law for these areas, and it is anticipated that the 15th National Assembly will consider and potentially approve this draft within the next 12 months.
- The six major policies include: (1) Directions and plans for building industrial parks and economic zones in regional and provincial planning, (2) Regulations on conditions for investment in industrial park infrastructure and establishment of economic zones, (3) Incentives for industrial parks and economic zones in areas with difficult or extremely difficult socio-economic conditions, investment projects implementing industry linkages and industry linkage clusters in industrial parks and economic zones, (4) Promote the development of new types of industrial parks, new economic zones, new functional areas in economic zones, (5) Double incentives for priority and support enterprises, (6) State management of industrial zones, EZ.
- For businesses investing in and operating the infrastructure of industrial zones, we believe the new draft law will provide a clearer legal framework to support the process of seeking investment approval. Specifically, several policies within the draft law will impact the planning, establishment, and expansion of industrial zone projects. The remaining policies will serve as guidelines, supporting the investment and development of industrial zone projects
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