The complex will be the concentration of auxiliary industries, electricity generation, shipbuilding, fishing boat building, cement, port services, tourism (Vũng Chùa - Đảo Yến), urban quarters, and other economic sectors.

The economic complex consists of a tariff area and a non-tariff area (NTA). The Vietnamese Government always encourages both domestic and foreign companies and individuals to invest in Hòn La.

Commodity storage within the NTA is free from time limits. Overseas ships are permitted to enter the NTA port for load and unload cargo, their crew are exempted from customs procedures.

Every investment project in the complex enjoys incentives stipulated in Việt Nam’s current regulations. Investors are exempted from import duties for five years. Enterprise Income tax rate of 10% is granted to some projects during the implementation period. Foreigners and overseas Vietnamese working or doing business in Hòn La, and their family members, will be allowed to reside, with time limit, within the economic complex and Việt Nam.

By Kim Loan