5 Dec 2017
VIETNAM: New Dawn Promised for Market-Driven Investment Planning
A new market-driven investment planning environment, specifically designed to be more welcoming to overseas investors, is said to be the aim of Vietnam’s recently-adopted Law on Planning. In particular, the country’s current practice of allocating the manufacture of a pre designated volume of specific products to a set floor-space will be abolished as of 1 January 2019. Instead, future investment requirements and site allocations will be driven solely by market requirements.
Once implemented, the new legislation is seen as likely to boost investment opportunities across a range of business sectors. It is also expected to substantially reduce the role played by local authorities in determining investment priorities, while improving transparency, promoting better coordination among stakeholders and minimising conflicts of interest between ministries.