KÊN GIANG A ceremony was held in Hà Tiên City in the Mekong Delta province of Kiên Giang on Friday to announce the establishment of the Hà Tiên Border-Gate Economic Zone, the province’s only economic zone.

Established under a decision by Prime Minister Nguyễn Xuân Phúc on August 5, 2020, the 1,600-ha economic zone spans five communes - Pháo Đài, Đông Hồ, Tô Châu, Bình San, and Mỹ Đức.

It consists of seven areas, including duty-free, tourism, administrative, residential areas, an industrial park, and the Hà Tiên International Border Gate, which leads to the Prek Chak International Border Gate on the Cambodian side, and service areas.

Speaking at the event, Chairman of the Hà Tiên City’s People’s Committee Lê Quốc Anh said he expects the new economic zone will increase the city’s attractiveness among both domestic and foreign investors and fuel the development of industry, services, tourism, and infrastructure in surrounding areas.

It should pave the way for the expansion of the population along the shared border with Cambodia, in order to foster economic, cultural, and defence-security exchanges between the two countries and boost Hà Tiên City’s economic growth, he said.

Investors will be given exemptions from import duties and reductions on a number of taxes and fees, for example land lease and land use fees and corporate taxes, when setting up base at the Hà Tiên Border-Gate Economic Zone.

The economic zone has so far attracted 35 projects worth close to VNĐ4.4 trillion (US$191.5 million) in total. — VNS