The National Assembly of Vietnam discussed plans on Tuesday to boost economic growth in Hải Phòng City, including a proposal to establish a free trade zone. This initiative aims to position Hải Phòng as a key driver of growth in the Red River Delta and a national economic hub for the 2026–2030 period. Phan Văn Mãi, chairman of the NA Committee for Economic and Financial Affairs, emphasized the need for thorough impact assessments covering economic, social, and security implications. He also called for strong oversight mechanisms to ensure transparency and risk management. The proposal includes enhancing the Hải Phòng Economic Zone Authority’s administrative capacity with a "single-window" mechanism. Additional preferential policies were discussed, such as streamlined procedures for investment, import-export, immigration, and land use. Incentives like tax breaks for startups and exemptions on corporate and personal income tax for five years were proposed. Further considerations involve extending tax incentive periods and ensuring compliance with global minimum tax rules. Clarifications on foreign currency regulations and borrowing mechanisms were also suggested. Hải Phòng could borrow via bonds and domestic loans, with debt capped at 120% of its allocated budget revenue. Land lease for logistics services may bypass traditional bidding processes. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News