Ho Chi Minh City to set up special economic zone

Thien Thanh Sanitaryware joint company

Ho Chi Minh City to set up special economic zone

Ho Chi Minh City is set to create a special economic zone spanning four districts to boost development, the municipal administration said. The special economic zone will play a very important role in the future of Ho Chi Minh City, the city’s chairman, Le Hoang Quan, said in a directive requesting that the proposal to open the zone be completed soon.

The administration of the southern Vietnamese metropolis has tasked a special team with working on such a proposition.

The proposed special economic zone will be located in a huge area covering District 7, Can Gio District, Binh Chanh District and Nha Be District to “leverage the potential and advantages for growth of Ho Chi Minh City,” Quan said in the fiat.

The new economic zone will help attract investment, boost growth, improve infrastructure, generate jobs and strengthen import-export activities, according to the chairman.

“This is a major plan that is very important to the future development of the city,” Chairman Quan said.

Once the proposal to set up the special economic zone is completed, the municipal administration will have to obtain approval for it from the municipal People’s Council and Party Committee, before seeking permission from the prime minister.