The Ministry of Planning and Investment (MPI) is drafting a Government resolution on measures to increase the efficiency of IPs and EZs.

It said IPs and EZs account for 50 per cent of the country’s total export value.

However, the ministry pointed to a number of problems related to the IPs and EZs, including their unsustainable development in different aspects. Living conditions of local communities where the zones are located have not seen remarkable improvements.

In the draft resolution, the MPI suggested the building of a Law on IPs and EZs in 2022, and the issuance of a Prime Minister’s decision on the co-ordination mechanism among ministries, sectors and localities in managing IPs and EZs.

The draft also looked to stipulate the maximum acreage of an IP and an EZ, as well as define orientations in investment attraction to match the advantages of each region and locality, and the creation of a cooperation mechanism between the State and the private sector in developing new IPs and EZs for particular sectors and industries.

Over the past 30 years, industrial parks (IP) and economic zones (EZ) across the country have attracted more than US$100 billion of investment, and created jobs for more than four million labourers, according to the ministry. — VNS