Vietnam: proposed economic zones raise opposition
The proposal to lease land in three special economic zones in Vietnam for 99 years has brought strong opposition in the National Assembly.
Vietnam.- The National Assembly of Vietnam continues to debate a proposal to create three special economic zones to attract investors to the country. The idea has generated strong opposition from several lawmakers as it would allow foreign companies to lease land for up to 99 years.
According to Deputy Truong Trong Nghia from Ho Chi Minh City, only underdeveloped and indigent countries should lease the land for such a long time. He explained that the proposal was introduced to favour high-tech enterprises, but asserted that the leasing period would only work to lure casino operators in.
The three proposed special economic zones would be established in Van Don in northern Quang Ninh Province, Bac Van Phong in central Khanh Hoa Province, and Phu Quoc in the southern Kien Giang Province. In both of the Van Don and the Phu Quoc sites, two integrated resort projects have already been planned as they were chosen to hold a three-year trial period for allowing local Vietnamese to gamble.
