The National Assembly Standing Committee on November 24 reviewed draft resolutions that amend and supplement special incentives for Ho Chi Minh City and central Da Nang city .
According to the Government’s submission, the draft Resolution amending and supplementing certain provisions of Resolution No. 98/2023/QH15 on piloting special mechanisms and policies for the development of Ho Chi Minh City includes new provisions on the establishment of a Free Trade Zone (FTZ).
The draft sets out a comprehensive legal framework comprising seven key policies for the HCM City FTZ. These include decentralising authority to the municipal People’s Committee to decide on the establishment, expansion and adjustment of FTZ boundaries; empowering the municipal People’s Council to regulate relevant procedures, placing the Ho Chi Minh City Exporting Processing and Industrial Zones Authority in direct charge, specifying customs authority management, allowing land allocation and leasing without auctions or bidding for FTZ investment projects (except commercial housing).
It also covers reforming administrative procedures and investment conditions; offering corporate income tax and personal income tax breaks for experts, scientists and skilled workers; and permitting foreign-currency pricing and settlements inside the zone.
The NA Standing Committee also commented on a draft resolution amending and supplementing several provisions of the NA's Resolution No. 136/2024/QH15 on the organisation of urban administration and the pilot implementation of special mechanisms and policies for the development of Da Nang city. The draft Resolution also adds several provisions related to a FTZ in the central city.
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