According to Mr. Vu Quang Hung, Member of the Standing Committee of the Da Nang City Party Committee - Head of the Management Board of the Da Nang High-Tech Park and Industrial Parks (DSEZA): This is an important adjustment to perfect the specific mechanism for Da Nang, while strengthening the authority and expanding legal tools for DSEZA.
Nationwide, DSEZA is the only agency managing multiple sectors in four subdivisions: Free Trade Zone, High-Tech Zone, Industrial Park and Digital Technology Zone.
Shortening land procedures, DSEZA was given the right to lease land. The implementation of investment projects in high-tech parks and industrial parks in recent times shows that the biggest problem lies in the separation of two levels of land lease authority. Investors have to work with many agencies, taking time and increasing administrative costs.
The amended Resolution has added a special mechanism, DSEZA is allowed to receive documents, review, inspect, issue land lease decisions and sign land lease contracts for areas invested from the State budget. The new regulation helps reduce focal points, reduce intermediary procedures and increase transparency in land management, creating more favorable conditions for investors.
Another important content is to allow the City People's Committee to decide on decentralization and authorize additional tasks for DSEZA. This is an important legal basis to help the urban government model promote efficiency, streamlining and flexibility.
In the coming time, when decentralized under the new framework, DSEZA can directly undertake additional important public services such as business registration, labor procedures, and integrate with investment, land, and environment processes under the "one-stop-shop" mechanism. This helps shorten the time for processing procedures, reduce compliance costs and increase the level of service for businesses.
To attract large resources and form a synchronous infrastructure system, the Resolution has added regulations on approving investment policies at the same time as approving investors for free trade zone infrastructure projects with a scale of VND3,000 billion or more. Investors must have at least 20% of total equity, ensure financial capacity and long-term development commitments.
This mechanism helps select truly capable enterprises, creating a foundation for the formation of a modern free trade zone, playing the role of a trading gateway and attracting international investment capital. Transiently selecting strategic investors in the Free Trade Zone.
Regarding tax incentives and land rents, there are outstanding advantages. Da Nang Free Trade Zone is designed with many strong incentives. Investment projects are exempted from all land and water surface rents throughout the lease term, except for housing projects and projects on commercial and service land.
Projects in priority sectors are subject to a corporate income tax rate of 10% for 30 years, a 4-year tax exemption and a 50% reduction for the next 9 years. These are competitive incentives, in line with the orientation of high-tech development, innovation, clean energy, logistics and key supporting industries.
The amendment of Resolution 136/2024/QH15 affirms an important step forward in building a specific mechanism for Da Nang.
