Investors expect transparent law on special economic zones

Update: May, 21/2018 - 16:24

A workshop on “Special Economic Zones (SEZs) — Institution, Policies and Expectation for Success” was organised in Hà Nội on May 18.

The workshop clarified the most prevalent economic law — the Special Economic Administrative Law. BIM Group, which was present at the workshop, shared its opinion and expectations.

The unprecedented law has been formulated for three special administrative-economic zones, including Vân Đồn in the northern province of Quảng Ninh, Bắc Vân Phong in the central province of Khánh Hòa and Phú Quốc in the southern province of Kiên Giang.

Special and unprecedented mechanisms and policies will be piloted in these zones, which are expected to create a new momentum for national economic development.

Experts and investors attending the workshop discussed the implementation of the special law in these three regions.
Accordingly, when the Law on Special Areas comes into effect, facilitating superior institutions and special preferential policies, it is expected to create the best conditions for businesses in general and BIM Group in particular. It will help promote and attract investment, support enterprises and be a bridge between domestic and foreign enterprises investing in SEZs.

At the seminar, Lê Minh Dũng, deputy general director of BIM Group, said:“In order to help strategic investors secure investment in SEZs to promote the economy as the pressure of competition with other economies increases, investors as well as BIM Group need great support from provincial leaders, open policies and more and more new playgrounds with outstanding incentives, attracting investment from around the world. There needs to be clear and transparent policies for institutions and laws meant for SEZs, in addition to open and free policy orientations, to guide businesses such as BIM Group. As a strategic investor, BIM Group is also partnering with many international investors as well as reputable and experienced partners in the world to co-develop the group’s projects to a new height.”

BIM Group has invested more than 20 years in Quảng Ninh, Kiên Giang and Phú Quốc, mainly in aquaculture and real estate. It is rated as a leading aquaculture producer and exporter in Việt Nam, with a cultivated area of 600ha in Kiên Giang, Minh Thành and Tiên Yên-Quảng Ninh province, with a maximum production capacity of more than 10,000 tonnes per year. BIM Group also owns a rice mill in Kiên Giang province, with a capacity of 700,000 tonnes per year.

As one of the most prestigious investors in the real estate sector, BIM Group is focusing on promoting the real estate market in Quảng Ninh and Phú Quốc.

In Phú Quốc island, with an estimated capital disbursement of more than US$300 million in future, BIM Group will focus on developing the key project of Phú Quốc Marina Tourist Complex (155ha) located on the west of the island, seven kilometres away from the Phú Quốc International Airport. Coastal properties, such as five-star hotels, resorts, shophouses, high-end condominiums and vacation villas, are being built with a total investment of $180 million. BIM Group plans to collaborate with international names here, including InterContinental Hotels Group, Regent Hotels & Resorts, Hyatt Hotels and Sailing Club.

Meanwhile in Quảng Ninh, BIM Group is developing the Halong Marina urban area, with a series of real estate properties to attract investors from Hà Nội and neighbouring provinces, including hundreds of commercial shophouses of Little Vietnam, Lotus Residences with Vạn Liên villas, Green Bay Village-the first closed community in Quảng Ninh, Pearl Villa and Citadines Marina Halong, a luxury serviced apartment project in partnership with The Ascott Limited, one of the world’s largest providers of serviced apartment management and services.