The Government will suspend new economic zones in order to focus on developing the existing projects.
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| Deputy Prime Minister Hoang Trung Hai |
The Ministry of Planning and Investment (MPI) held a meeting on February 17 to review the past 20 years of construction and development of industrial, processing and economic zones in Vietnam.
During this time Vietnam established 15 coastal economic zones, and 28 close to the border. Only a minority of them are operating efficiently.
To deal with the low occupancy rate at industrial, economic zones, which is now 65%, the MPI will suspend new projects, cease the operation of unoccupied zones and focus on upgrading the existing ones to be more efficient.
At the meeting, Deputy Prime Minister Hoang Trung Hai also affirmed that the activities of industrial, processing and economic zones will be reevaluated.
He indicated that he is determined to stop farm land from being converted into industrial zones. The Government will issue a new order on the management of farms. The tightening control over farms will force private firms to cooperate with the Government to improve the infrastructure.
