Construction Ministry agrees to put Phu Quoc SEZ plan on hold
Construction Ministry agrees to put Phu Quoc SEZ plan on hold
The Ministry of Construction has expressed support for the government of Kien Giang Province’s proposal to suspend a major plan to turn Phu Quoc Island off the province into a special economic zone (SEZ).
According to the ministry, the development of Phu Quoc into an SEZ is not appropriate at present and is not in line with the prevailing regulations on planning.
Kien Giang had conducted procedures to put the plan into action after it was approved by the prime minister in August last year.
However, the National Assembly has yet to set a specific date to pass a draft law on special administrative and economic zones, setting up multiple obstacles for the province’s adoption of the plan due to the lack of a legal foundation, procedural order, zoning content and appraising board.
Therefore, the province proposed the suspension of the plan until the NA passes the law on special administrative and economic zones.
A master plan to develop Phu Quoc Island until 2010, with a vision toward 2020, approved by the prime minister in 2004, is no longer appropriate to the current situation.
The provincial government cited the Law on Zoning, noting that district-level zoning would have to be integrated with that of the province, but many socioeconomic targets of Phu Quoc have outpaced the approved figures.
However, waiting for the province’s zoning plan to be worked out and approved will create difficulties for Phu Quoc in mapping out further development goals, calling for investors and executing investment projects.
Instead, the provincial government is seeking approval from the Government to set up an economic zone on the island, with a zoning fund sourced from the local budget and other legal sources.
