A corner of Ho Chi Minh City (Photo: VNA) The zone has been included in a draft project on the development ofindustrial parks and export processing zones for 2025 – 2030 with a vision to2040. Accordingly, the zone will cover the entire District 7 and Nha Be district along with parts of BinhChanh and Can Gio. Its core area will be the 300-ha Tan Thuan export processingzone and the 1,354ha Hiep Phuoc Port Urban Area.
Investors, when investing in economic zones, will be entitled to such incentives as tax exemption for four years and a 50% reduction of corporate income tax for the next nine years forincome generated from their investment projects in line with regulations.
For the southern metropolis, such zone with large-scale socio-economicdevelopment space and integrated production capacity plays an important role intransforming its underdeveloped coastal area into a driving force for economicdevelopment.
It will also help speed up the process of restructuring thelocal economy towards industrialisation and modernisation, and forming ahigh-quality urban area.
At the Hiep Phuoc Port Urban Area (Photo: baodautu.vn) Hua Quoc Hung, head of the HCM City Export Processing andIndustrial Zones Authority (HEPZA) said there were investors wanting to rent several dozen hectares of land for factory building, but the city couldnot provide them.
Therefore, when there is a large enough economic zone with adequateinfrastructure, the city will be able to attract large investors, thereby creating a breakthroughin economic development, he said./.
VNA
