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Ha Tinh lays hopes on new EZ

In Uncategorized on November 25, 2008 at 3:27 pm

Ha Tinh (VNA) – The central province of Ha Tinh is hoping that an economic area at its Cau Treo international border gate will help develop the province’s western region.

The province already has Vung Ang economic zone to develop its sea area. The Cau Treo Economic Area, with incentive policies, is expected to help develop the provincial mountainous area.

In October 2007, the Prime Minister issued a decision on operational regulations of the Cau Treo international border gate economic area that covers 56,684 ha. The area is also located along National Highway No 8A, 75 km from Hong Linh Town .

The economic zone was built according to a complex economic model, with functional divisions including industrial zones, an industrial-trade zone, a tourism-services zone, and an urban area.

Along with industrial production, other services will be developed including trade, import-export, storage, finance, banking and logistics services.

According to the Government decision, this is an open, non-tariff economic area, with special preferential mechanisms.

For example, investment projects in the economic zone will be exempt from the corporate income tax for four years, and a 50 percent reduction for the following nine years.

In addition to incentive tax and investment policies, the border gate economic area is in a favourable location, resting along the border area connecting Thailand , Vietnam and Laos .

Head of the management board of the economic area, Nguyen Van Tri, expressed his gratitude for these policies, along with opportunities and a favourable location. Although the economic zone was recently established, it has already attracted a lot of investors.

According to the deputy chairman of Ha Tinh province People’s Committee, Vo Kim Cu, the new economic area is considered to be one of three key economic focuses of the province. The others are the provincial Vung Ang Economic Zone and Thach Khe iron mine.

As of last month, seven investors were granted business licences with a total capital of more than 1 trillion VND (59.5 million USD).-

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