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Prime Minister Nguyen Xuan Phuc on December 13 attended a groundbreaking ceremony for an infrastructure building and trade project at Lien Ha Thai industrial park (Green iP-1) in Thai Thuy district, the northern province of Thai Binh.
The time when IPs could attract investors with infrastructure and incentives is over, as now IPs need to be designed and operated according to new standards.
As policies change, businesspeople investing money in border EZs (economic zones) have suffered heavily. Many of them have fled the EZs though they had injected hundreds of billion of dong into projects.
VietNamNet Bridge - When building factories, investors often neglect applying environment protection solutions and waste water treatment systems. As a result, rivers become polluted.
VietNamNet Bridge - Vietnam has vowed to develop its petrochemistry industry and has spent a great deal of money on doing so.
VietNamNet Bridge - Many economic zones (EZs) have been left idle because they cannot attract investors, but experts agree that revoking investment licenses would not be a good solution.
Twelve projects in the Nhon Hoi Economic Zone have had their investment certificates revoked, while the Chan May – Lang Co Economic Zone Board of Management is planning to revoke certificates of nine projects.