Vietnam’s proposal for three special economic zones continues to spark debate in the ongoing National Assembly sitting, reports Asia Gaming Brief.
The proposal for investors to lease land for up to 99 years facing fierce public opposition.
Deputy Truong Trong Nghia from Ho Chi Minh City was among one of the NA deputies in objection to the proposal, saying that only underdeveloped and indigent countries should lease the land for such a long time.
Nghia said that few investors with genuine businesses will need to lease the land for that amount of time, so the 99-year incentive will only attract real estate and casino investors, rather than high-tech enterprises.
Vietnam is planning to establish three SEZs: Van Don in northern Quang Ninh Province, Bac Van Phong in central Khanh Hoa Province, and Phu Quoc in the southern Kien Giang Province. Two major IR projects are planned for two of the zones, Van Don and Phu Quoc. They were also the two sites chosen to hold a three-year trial period for allowing local Vietnamese to gamble.
