Decision No. 50/2005/QĐ-TTg on the establishment and issuance of the operational regulations for the Dung Quat Economic Zone in Quang Ngai Province.

Pursuant to …; OF THE PRIME MINISTER

Regarding the establishment and issuance of the Operating Regulations for the Dung Quat Economic Zone, Quang Ngai Province

Based on the conclusions of the Politburo as stated in Notification No. 155/TB-TW dated September 9, 2004 of the Central Committee;

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Establish the Dung Quat Economic Zone based on the Dung Quat Industrial Park in Quang Ngai Province.

The Prime Minister issues this Decision on principles, criteria, and allocation standards for state budget investment capital development phase 2016-2020.

DECISION:

Article 1. Issue along with this Decision the Operating Regulations for the Dung Quat Economic Zone.

Article 2. The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairman of the People's Committee of Quang Ngai Province, and Director of the Management Board of the Dung Quat Economic Zone shall be responsible for implementing this Decision./.

Article 3. This Decision takes effect fifteen days after its publication in the Official Gazette. All previous regulations that conflict with this Decision are hereby abolished.

Article 4. Activities of the Dung Quat Economic Zone

REGULATIONS

(Issued together with Decision No. 50/2005/QĐ-TTg

dated March 11, 2005 of the Prime Minister)
These regulations stipulate the activities, certain policies, and state management over the Dung Quat Economic Zone (hereinafter referred to as the Dung Quat Zone); rights and obligations of domestic and foreign organizations and individuals engaged in production, business of goods and services, and enterprises investing in construction and operation of infrastructure within the Dung Quat Zone.

PART I
GENERAL PROVISIONS

Article 1. The Dung Quat Zone is a defined geographic area within the national territory and sovereignty but has a separate economic space, with favorable and equal investment and business environment including functional zones, technical and social infrastructure projects, service and public utility projects with preferential policies, encouragement, long-term stability, and a transparent management mechanism facilitating domestic and foreign investors to invest confidently in developing production and business of goods and services within the current legal framework and continuously improving.

Article 2.

The Dung Quat Zone covers approximately 10,300 hectares of land in Quang Ngai Province, including the communes of Binh Chanh, Binh Thanh, Binh Dong, Binh Thuan, Binh Tri, Binh Hai, and part of the land from the communes of Binh Phuoc, Binh Hoa, and Binh Phu in Binh Son District; its geographic boundaries are defined as follows:

a) To the East, it borders the East Sea;

b) To the West, it borders Binh Nguyen Commune, Binh Son District, Quang Ngai Province;

c) To the North, it borders Nui Thanh District, Quang Nam Province;

d) To the South, it borders the communes of Binh Long, Binh Hiep, Binh Phu, Binh Son District, Quang Ngai Province.

The main development objectives of the Dung Quat Zone:

Article 3. 1. To build and develop the Dung Quat Zone into a comprehensive multi-sector economic zone with a focus on developing oil refining - petrochemical - chemical industries, large-scale industries including mechanical industry, shipbuilding and repair, steel rolling and processing, cement production, container manufacturing, and consumer goods production, processing, and export industries; linked with the effective development and exploitation of the deep-sea port of Dung Quat, Chu Lai International Airport, and Van Tuong industrial-service city, Doc Soi town.

2. To accelerate the pace of investment and development of the Dung Quat Zone alongside the Chu Lai Open Economic Zone so that by 2010, these economic zones gradually become growth centers, urban-industrial-service centers of the central coastal economic region, driving the industrialization and modernization process in the Central Region and throughout the country; serving as an important international exchange hub, contributing to expanding the market in the Central Highlands and Western Highlands regions, and becoming a bridge to the Laotian Southern and Northeastern Thai markets.

3. To create jobs, promote training, and improve the quality of human resources in the region; contribute to producing high-quality, competitive branded products.

4. To effectively exploit natural advantages, geographical and political-economic conditions in international and domestic trade and services to promote regional economic development; to spread out to surrounding areas, gradually narrowing the development gap with other regions nationwide.

The Government of the Socialist Republic of Vietnam encourages and protects domestic organizations and individuals of all economic sectors, overseas Vietnamese, and foreign organizations and individuals participating in investment and business activities in the Dung Quat Zone in the following fields: infrastructure and urban development investment and business, industrial development, trade, finance, banking, services, tourism, transportation, insurance, entertainment, education and training, healthcare, housing, seaports, import and export of goods, and other production and business activities according to Vietnamese laws and international treaties to which Vietnam is a party.

Article 4. 1. Rights of economic organizations, households, individuals, overseas Vietnamese, foreign organizations and individuals, foreign-invested enterprises, and parties involved in joint venture contracts under the Law on Foreign Investment operating in the production and business of goods and services in the Dung Quat Zone include:

Article 5.

a) Receiving the transfer of land use rights, leasing land, or subleasing land already developed with technical infrastructure in the Dung Quat Zone from enterprises investing in construction and operation of infrastructure according to relevant land laws to construct factories and architectural works serving production and business of goods and services;

b) Leasing or purchasing pre-built factories and warehouses in the Dung Quat Zone to serve production and business of goods and services according to contracts signed with enterprises investing in construction and operation of infrastructure;

c) Using technical infrastructure projects, service projects, and public utility projects in the Dung Quat Zone, including road systems, seaports, electricity supply, water supply, drainage, telecommunications, wastewater treatment, solid waste disposal, and other common services in the Dung Quat Zone according to contracts signed with enterprises investing in construction and operation of infrastructure;

d) Enjoying investment incentives as prescribed in these regulations;

đ) Enjoying other legitimate benefits as prescribed by Vietnamese laws on land, domestic investment promotion, foreign investment, and other legal documents of Vietnamese law and according to international treaties to which Vietnam is a party.

đ)享有法律规定的合法土地权益和其他合法权益，根据国内投资促进法、外商投资法及其他越南法律法规以及越南缔结或加入的国际条约的规定。

2. Obligations of economic organizations, households, individuals, overseas Vietnamese, foreign organizations and individuals, foreign-invested enterprises, and parties participating in business cooperation contracts under the Law on Foreign Investment operating within the Dung Quat Economic Zone and engaging in production and trading of goods and services include:

a) Adhering to the provisions of this Regulation, detailed planning schemes of functional zones approved by competent state authorities, and regulations stipulated in the Investment Registration Certificate, Investment Incentive Certificate, Investment License, Business Registration Certificate, and Corporate Charter; using land for the intended purpose as allocated or leased, or subleased;

b) Creating conditions for investment enterprises to construct and operate infrastructure to maintain, repair, upgrade infrastructure projects of functional zones, technical infrastructure projects, and public service and utility facilities on land used by organizations and individuals within the Dung Quat Economic Zone;

c) Paying land rental fees, subland rental fees, rental or purchase fees for factories, warehouses, and other infrastructure projects of functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone according to signed contracts with investment enterprises constructing and operating infrastructure;

d) Domestic economic organizations, households, and individuals investing in production and trading within the Dung Quat Economic Zone must register their activities with the Management Board of the Dung Quat Economic Zone;

đ) Regularly reporting their operational status monthly, quarterly, and annually to the Management Board of the Dung Quat Economic Zone;

e) Fulfilling tax, customs, environmental protection obligations, and other obligations as prescribed by law;

Article 6.

1. Economic organizations, overseas Vietnamese, foreign organizations and individuals, and foreign-invested enterprises investing in construction and operation of infrastructure in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone (collectively referred to as infrastructure investment and operation enterprises) have the following rights:

a) Being granted land leases or allocations with land use fees or without land use fees by the Management Board of the Dung Quat Economic Zone, in accordance with relevant laws on land, to invest in and operate infrastructure in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone;

b) Transferring land use rights, leasing land, or subleasing land that has been developed with technical infrastructure within the Dung Quat Economic Zone to domestic organizations and individuals, overseas Vietnamese, foreign organizations and individuals, and foreign-invested enterprises participating in business cooperation contracts under the Law on Foreign Investment in Vietnam for investment in production and trading of goods and services within the Dung Quat Economic Zone, in accordance with relevant laws on land;

c) Collecting fees for the use of infrastructure projects in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone invested in by infrastructure investment and operation enterprises according to signed contracts with lessees;

d) Constructing factories and warehouses within the Dung Quat Economic Zone for sale or lease;

đ) Setting rental prices for land that has been developed with technical infrastructure, usage fees for technical infrastructure projects, public service and utility facilities within the Dung Quat Economic Zone according to agreements with the Management Board of the Dung Quat Economic Zone; setting rental or sales prices for factories and warehouses and service fees;

e) Permitting economic organizations, overseas Vietnamese, foreign organizations and individuals, and financially capable and experienced foreign-invested enterprises to lease or sublease part or all of undeveloped land areas for further leasing or investment attraction, in accordance with relevant laws on land;

g) Enjoying other lawful benefits as prescribed by law;

2. Infrastructure investment and operation enterprises within the Dung Quat Economic Zone have the following obligations:

a) Constructing infrastructure projects in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone in accordance with approved detailed plans, designs, and schedules;

If land allocated by the Management Board of the Dung Quat Economic Zone with land use fees, without land use fees, or leased in accordance with relevant laws on land for implementing investment projects in infrastructure development and operation in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone is not used continuously for 12 months or the land use progress is delayed by more than 24 months compared to the schedule stated in the investment project from the date of actual land handover without permission for extension from the Management Board of the Dung Quat Economic Zone, then the Management Board of the Dung Quat Economic Zone will decide to reclaim the land without compensation;

b) Maintaining and repairing infrastructure projects in functional zones, technical infrastructure projects, and public service and utility facilities within the Dung Quat Economic Zone to ensure quality;

c) Adhering to the provisions of this Regulation and detailed planning schemes of functional zones approved by competent authorities; using land for the intended purpose as allocated or leased;

d) Regularly reporting their operations monthly, quarterly, and annually to the Management Board of the Dung Quat Economic Zone;

đ) Fulfilling tax, customs obligations, and other obligations as prescribed by law;

PART II
ORGANIZATION AND OPERATIONS OF THE DUNG QUAT ECONOMIC ZONE

Article 7.

1. The Dung Quat Economic Zone includes bonded zones and other functional zones such as industrial zones, export processing zones, port areas and port logistics services, residential areas, urban areas, tourism and service areas, and administrative areas (hereinafter collectively referred to as other functional zones).

The scale and location of each functional zone are determined in the Master Plan for the Construction of the Dung Quat Economic Zone approved by the Prime Minister.

2. To ensure the quality of long-term development planning in line with international economic integration requirements, the Management Board of the Dung Quat Economic Zone is permitted to hire foreign consulting companies to participate in the process of developing the Dung Quat Economic Zone and detailed planning for functional zones such as urban areas, tourism-service areas, and bonded zones.

Article 8.

1. The bonded zone within the Dung Quat Economic Zone is an area defined in the Master Plan for the Construction of the Dung Quat Economic Zone and the Detailed Land Use Plan.

2. The bonded zone is separated from other functional zones within the Dung Quat Economic Zone and the mainland of Vietnam by a fence system, with gates and entrances, ensuring the control of relevant authorities. Within the bonded zone, there is a customs office to monitor, inspect, and handle customs procedures for goods entering and exiting. There are no residents (including foreigners) living permanently or temporarily within the bonded zone.

3. Activities in the bonded zone include main production and business forms such as:

a) Production, processing, recycling, assembly of export goods, import goods, and goods for local use;

b) Goods trade (including exports, imports, transshipments, temporary imports for re-export, distribution, retail stores, duty-free shops);

c) Service trade (classification, packaging, transportation and delivery of transit goods, storage, bonded warehouses, postal services, telecommunications, finance, banking, transportation, insurance, entertainment, dining);

d) Trade promotion (trade fairs, product showcase stores, branches and representative offices of domestic and foreign companies, and financial-banking organizations) and other trading activities.

Article 9.

1. The exchange of goods and services between the bonded zone and foreign countries, and among economic organizations within the bonded zone, is considered as an exchange between foreign countries and does not require customs procedures. Economic organizations operating within the bonded zone can export to foreign countries and import from foreign countries all goods and services that are not prohibited by Vietnamese law for export and import.

2. For dedicated ports, commercial ports, and general ports in Dung Quat, foreign ships are allowed to directly enter the port to load/unload goods without undergoing entry/exit procedures for personnel, except for ship procedures at buoy number 0.

Article 10.

1. The exchange of goods and services between the bonded zone and other functional zones (excluding export processing zones) within the Dung Quat Economic Zone and the mainland of Vietnam is considered as an exchange between foreign countries and Vietnam and must comply with current laws on customs and export-import taxes. The exchange of goods and services between the bonded zone and export processing zones within the Dung Quat Economic Zone is considered as an exchange between foreign countries.

2. Domestic and foreign organizations and individuals engaged in production and business of goods and services in other functional zones within the Dung Quat Economic Zone and the mainland of Vietnam may only import goods and services from the bonded zone that are not prohibited or restricted by Vietnam for import and may sell goods and services to the bonded zone that are not prohibited by Vietnam for export.

Article 11.

1. Goods subject to export tax or import tax in the following cases are exempted:

a) Goods imported from abroad into the bonded zone;

b) Goods exported from the bonded zone to foreign countries;

c) Goods transferred or sold to export processing zones or export processing enterprises within the territory of Vietnam from the bonded zone;

d) Goods originating from the mainland of Vietnam that are not subject to export tax and brought into the bonded zone (except for goods specified in Clause 2 of this Article).

2. Goods originating from the mainland of Vietnam that are subject to export tax and brought into the bonded zone for export to foreign countries without being processed, manufactured, recycled, or assembled into products in the bonded zone must pay the export tax, follow the current export procedures, and be subject to customs inspection and supervision.

3. Goods originating from abroad and not included in the list of goods prohibited or restricted for import from the bonded zone into other functional zones (excluding export processing zones) within the Dung Quat Economic Zone and the mainland of Vietnam must pay the import tax, follow the current import procedures, and be subject to customs inspection and supervision.

4. Goods produced, processed, recycled, or assembled in the bonded zone using imported raw materials and components from abroad when imported into other functional zones (excluding export processing zones) within the Dung Quat Economic Zone and the mainland of Vietnam only need to pay the import tax on the portion of imported raw materials and components from abroad that constitute the product or goods and must follow the current import procedures and be subject to customs inspection and supervision.

5. Goods and services produced and consumed in the bonded zone and goods and services imported from abroad into the bonded zone are exempt from value-added tax. Goods and services from the mainland of Vietnam and other functional zones within the Dung Quat Economic Zone brought into the bonded zone are subject to a 0% VAT rate. Goods and services from the bonded zone brought into the mainland of Vietnam and other functional zones (excluding export processing zones) within the Dung Quat Economic Zone must be subject to value-added tax at the current applicable rate.

6. Goods and services subject to special consumption tax produced and consumed in the bonded zone or imported from abroad into the bonded zone are exempt from special consumption tax.

7. Goods and services subject to special consumption tax from the bonded zone brought into other functional zones (excluding export processing zones) within the Dung Quat Economic Zone and the mainland of Vietnam must be subject to special consumption tax.

8. Raw materials for production, goods, and supplies from domestic and foreign organizations and individuals engaged in the production, business of goods and services within the bonded zone, imported from abroad but not fully utilized, and by-products still having commercial value are permitted to be sold into other functional zones (excluding export processing zones) within the Dung Quat Economic Zone and domestically in Vietnam after completing customs procedures and paying import duties according to current regulations.

9. Investment projects for producing export goods and transporting transit goods shall be implemented in accordance with general provisions.

CHAPTER III
INVESTMENT INCENTIVES

Article 12. Domestic and foreign organizations and individuals have the right to choose to implement investment projects at the Dung Quat Economic Zone (except for projects listed in the prohibited investment sectors, projects that adversely affect national security, culture and society, and cause serious environmental pollution according to Vietnamese law).

Article 13. Investment projects in the Dung Quat Economic Zone are entitled to incentives applicable to areas with particularly difficult socio-economic conditions and economic zones according to the Law on Foreign Investment in Vietnam, the Law on Encouraging Domestic Investment, the Law on Corporate Income Tax, and other tax laws.

Article 14.

1. All investment projects of domestic and foreign organizations and individuals in the Dung Quat Economic Zone are entitled to a corporate income tax rate of 10% applied for 15 years, starting from when the investment project begins operations, exempted from corporate income tax for 04 years from when taxable income is generated, and reduced by 50% of the tax payable for the next 09 years; they also enjoy other tax incentives applicable to areas with particularly difficult socio-economic conditions according to the Law on Foreign Investment in Vietnam, the Law on Encouraging Domestic Investment, other tax laws, and additional incentives under international treaties to which Vietnam is a party.

2. Domestic and foreign organizations and individuals' investment projects for production in the Dung Quat Economic Zone are exempted from import duties on raw materials for production, spare parts, components, and semi-finished products that cannot be produced domestically or do not meet quality standards for 05 years from the start of production.

3. A 50% reduction in income tax for high-income individuals, including both Vietnamese and foreigners working in the Dung Quat Economic Zone.

4. In addition to the incentives stipulated in this Regulation, investment projects of domestic and foreign organizations and individuals in the Dung Quat Economic Zone in high-tech fields meeting the provisions of Clause 2, Article 5 of Decree No. 99/2003/NĐ-CP dated August 28, 2003 of the Government on the issuance of the High-Tech Zone Regulations are entitled to a corporate income tax rate of 10% throughout the implementation period of the project.

5. In addition to the incentives stipulated in this Regulation, large-scale investment projects of domestic and foreign organizations and individuals in the Dung Quat Economic Zone that are significant for the development of industries, sectors, or regional socio-economic development are entitled to a corporate income tax rate of 10% throughout the implementation period of the project after being approved by the Prime Minister.

Article 15. Domestic enterprises belonging to various economic sectors with investment projects for production and business in the Dung Quat Economic Zone, eligible for preferential credit forms provided by the State, shall implement them according to current laws on State investment development credit.

Article 16. Economic organizations, overseas Vietnamese residents, foreigners residing in Vietnam, foreign-invested enterprises, and foreign organizations and individuals may invest in building houses for sale or lease; investing in constructing infrastructure for functional zones for lease, sublease, or transfer of land use rights already developed infrastructure in the Dung Quat Economic Zone in accordance with relevant laws on land. Overseas Vietnamese residents may purchase houses attached to residential land use rights in the Dung Quat Economic Zone. Foreigners residing in Vietnam and foreign investors may purchase houses and lease residential land in the Dung Quat Economic Zone.

Article 17. Apply a single price policy for goods, services, and land rental fees for organizations and individuals, regardless of whether they are domestic or foreign, engaged in production and business activities in the Dung Quat Economic Zone.

PART IV
LAND USE IN THE DUNG QUAT ECONOMIC ZONE

Article 18.

1. The entire area of land and water surfaces allocated for the construction and development of industrial zones, export processing zones, ports, port-related services, and bonded warehouses within the Dung Quat Economic Zone, as determined in the overall planning of the Dung Quat Economic Zone approved by the Prime Minister and detailed land use planning approved by the People's Committee of Quang Ngai Province, shall be assigned once to the Management Board of the Dung Quat Economic Zone for organization and implementation of construction and development. The People's Committee of Quang Ngai Province directs the implementation of land acquisition for the areas planned for the construction of industrial zones, export processing zones, ports, port-related services, and bonded warehouses within the Dung Quat Economic Zone.

2. The People's Committee of Quang Ngai Province directs the implementation of land and water surface acquisition according to the detailed land use plan already approved for the remaining functional zones and other purposes within the Dung Quat Economic Zone to assign to the Management Board of the Dung Quat Economic Zone according to the annual and five-year detailed land use plans of the Dung Quat Economic Zone already approved for organization and implementation of construction and development of the Dung Quat Economic Zone.

3. The Management Board of Dung Quat SEZ shall be responsible for coordinating with the People's Committee of Quang Ngai Province to implement compensation and land clearance for the area of land and water surfaces that have been recovered by competent state agencies and transferred to the Management Board of Dung Quat SEZ for the purpose of transferring land with payment of land use fees, transferring land without payment of land use fees, and leasing land to those who need to use land and resettling households whose land has been recovered according to the laws on land. The Management Board of Dung Quat SEZ shall manage the land and water surfaces that have been assigned and shall be responsible for the effective use of land and water surfaces and the purposes of land use, ensuring compliance with the overall planning for construction of Dung Quat SEZ approved by the Prime Minister and the detailed land use planning and detailed land use plans approved by the People's Committee of Quang Ngai Province.

4. In cases where land is transferred or leased without going through public auction of land use rights or bidding for projects using land: based on the land price and levels of exemption and reduction of land use fees; levels of exemption and reduction of land lease fees set by the People's Committee of Quang Ngai Province and the provisions of laws on encouraging domestic investment and foreign investment, the Management Board of Dung Quat SEZ shall decide the levels of land use fees, water surface fees, land lease fees, water surface fees; levels of exemption and reduction of land use fees, water surface fees; levels of exemption and reduction of land lease fees, water surface fees for each investment project to ensure encouragement of investment.

5. In cases where land is transferred with payment of land use fees and leased through public auction of land use rights or bidding for projects using land: based on the financial plan and agreed price set by the People's Committee of Quang Ngai Province, the Management Board of Dung Quat SEZ shall decide to transfer and lease land that has been compensated and cleared for those who need to use land according to the laws on land.

6. Domestic organizations and individuals, overseas Vietnamese, foreign organizations and individuals, foreign-invested enterprises, and parties participating in business cooperation contracts under the Law on Foreign Investment in Vietnam may lease land to carry out investment projects within Dung Quat SEZ and shall have corresponding rights and obligations according to the form of land transfer or lease as stipulated by the laws on land.

Article 19. The State shall support investment in constructing technical infrastructure works up to the fence of functional zones in Dung Quat SEZ, provide support for compensation and land clearance in functional zones and resettlement for households whose land has been recovered, and support investment in constructing wastewater treatment and centralized waste disposal facilities for functional zones according to national target programs for investment support.

Article 20.

1. Organizations and individuals, both domestic and foreign, must submit applications to the Management Board of Dung Quat SEZ in accordance with the laws on construction before building works serving production and business, infrastructure structures of functional zones, technical infrastructure structures, and public service and convenience works within Dung Quat SEZ. The Management Board of Dung Quat SEZ shall make decisions within seven working days from the date of receiving complete and valid application files.

2. The management of construction of works serving production and business, infrastructure structures of functional zones, technical infrastructure structures, and public service and convenience works within Dung Quat SEZ shall be carried out in accordance with the laws on construction.

CHAPTER V
OTHER POLICIES

Article 21.

1. The State shall allocate appropriate investment capital from the budget and preferential credit to support the development of technical infrastructure systems - social infrastructure and important public service and convenience works necessary to ensure the operation and development of Dung Quat SEZ.

2. The allocation of basic construction investment funds for technical infrastructure systems - social infrastructure and important public service and convenience works as stipulated in Clause 1 of this Article shall be managed centrally and balanced from the central budget's investment development expenditure tasks according to the programs and targets specified in the State Budget Law.

3. The following methods of raising capital are allowed for investment and development of Dung Quat SEZ:

a) Within the first fifteen years from the date this Decision takes effect, the State budget shall balance annually not less than the total revenue from the State budget on the territory of Dung Quat SEZ for the needs of developing technical infrastructure systems - social infrastructure and important public service and convenience works serving Dung Quat SEZ according to the programs and targets;

b) Issuing government bonds for large-scale infrastructure investment projects that play a key role in the development of Dung Quat SEZ in accordance with the regulations on issuing government bonds to raise investment capital;

c) Prioritizing the use of ODA and preferential credit capital for the construction of technical infrastructure systems - social infrastructure and necessary public service and convenience works of Dung Quat SEZ and other technical assistance;

d) Being allowed to attract investment capital through BOT, BT, BTO and other forms consistent with current regulations;

đ) Being allowed to raise capital from land funds in accordance with the laws on land to develop technical infrastructure systems - social infrastructure serving Dung Quat SEZ;

e) Raising direct investment capital from domestic organizations and individuals; advance capital from entities needing infrastructure, capital from enterprises with functions of construction and operation of technical infrastructure works. Expanding the form of joint financing by credit institutions and raising all sources of capital in various forms in accordance with the law.

Article 22. Allow state-owned commercial banks, joint-stock commercial banks, joint venture banks with foreign countries, foreign banks, and other credit organizations established and operating under the Law on Credit Institutions to open branches within the Dung Quat Economic Zone to carry out credit functions in Vietnamese dong and foreign currencies for economic activities within the Dung Quat Economic Zone in accordance with current regulations.

Article 23.

1. Foreign individuals, overseas Vietnamese working, investing, and conducting business in the Dung Quat Economic Zone and their family members shall be granted multiple-entry visas valid for a period consistent with their work duration, investment, and business activities in the Dung Quat Economic Zone and allowed to reside temporarily within the Dung Quat Economic Zone for a specified period.

The Ministry of Public Security shall guide the provincial police of Quang Ngai in implementing this clause.

2. The Management Board of the Dung Quat Economic Zone shall issue work permits to foreign individuals and overseas Vietnamese working, investing, and conducting business in the Dung Quat Economic Zone in accordance with Vietnamese laws.

The Ministry of Labor, Invalids, and Social Affairs shall guide the Management Board of the Dung Quat Economic Zone in implementing this clause.

Article 24.

1. The People's Committee of Quang Ngai Province shall take the lead and coordinate with the Management Board of the Dung Quat Economic Zone to effectively implement resettlement policies, agricultural land retention policies, and social policies, and address employment issues to ensure the living conditions of residents and working conditions for laborers within the Dung Quat Economic Zone, including:

a) The Management Board of the Dung Quat Economic Zone shall take the lead and coordinate with the People's Committee of Quang Ngai Province to plan and invest in building resettlement residential areas linked to the development of essential technical and social infrastructure;

b) The People's Committee of Quang Ngai Province shall be responsible for creating new land funds and providing production technical support to ensure that resettled households have improved and stable long-term living conditions, with the cooperation of the Management Board of the Dung Quat Economic Zone;

c) The People's Committee of Quang Ngai Province shall be responsible for directing and facilitating the construction of communal housing for experts, officials, workers, and employees working, investing, and conducting business in the Dung Quat Economic Zone for lease or purchase, with the cooperation of the Management Board of the Dung Quat Economic Zone;

d) The People's Committee of Quang Ngai Province shall be responsible for ensuring employment conditions, accommodation, living conditions, education, and healthcare for workers and residents within the Dung Quat Economic Zone.

2. The State shall support investment promotion into the Dung Quat Economic Zone and promote the investment environment at the Dung Quat Economic Zone to potential domestic and foreign investors.

3. The Management Board of the Dung Quat Economic Zone and relevant state agencies shall streamline administrative procedures related to investment, land, construction, bidding, taxation, customs, labor management, and enterprise management within the Dung Quat Economic Zone.

4. The Management Board of the Dung Quat Economic Zone shall cooperate with local authorities to organize propaganda and education to raise awareness among local cadres and people about the Dung Quat Economic Zone to continue supporting and participating in its construction and development process.

Article 25. Organizations and individuals who contribute to mobilizing official development assistance funds, attracting direct foreign investment projects, and domestic investment projects into the Dung Quat Economic Zone shall be rewarded according to the Regulations issued by the Management Board of the Dung Quat Economic Zone with the approval of the Ministry of Finance.

Chapter VI
STATE MANAGEMENT OF THE DUNG QUAT ECONOMIC ZONE

Article 26.

1. The Prime Minister shall focus on directing the investment, construction, and development of the Dung Quat Economic Zone, resolving emerging issues during its construction and development, and issuing mechanisms and policies within the Prime Minister’s authority to accelerate the construction and development of the Dung Quat Economic Zone.

2. The Ministries of Planning and Investment, Finance, Trade, Construction, Transport, Natural Resources and Environment, and relevant agencies shall issue guidelines on the operation of functional zones within the Dung Quat Economic Zone based on their respective functions, tasks, and powers.

3. The People's Committee of Quang Ngai Province and the Management Board of the Dung Quat Economic Zone shall develop and promulgate regulations on coordination regarding matters such as planning management, investment construction and development plans for the Dung Quat Economic Zone, land management (procedures and formalities for land allocation, compensation, and clearance), resettlement, agricultural land retention, and management of the activities of domestic and foreign organizations and individuals engaged in production, trade, and service provision within the Dung Quat Economic Zone.

Article 27.

1. The Management Board of the Dung Quat Economic Zone shall be established by the Prime Minister based on the organizational structure of the Dung Quat Industrial Zone Management Board and adjusted and supplemented to fit the management model of the Dung Quat Economic Zone.

2. The Management Board of the Dung Quat Economic Zone shall be a direct state management agency under the Prime Minister for investment construction and development of the Dung Quat Economic Zone to assist the Prime Minister in directing the implementation of the construction and development of the Dung Quat Economic Zone according to the operational regulations, planning, and progress approved by competent state authorities.

3. The Management Board of the Dung Quat Economic Zone shall be a central planning and budget unit (first-level budget unit), authorized to manage revenues and expenditures in fields of development investment, administrative services, target programs, and other fields assigned by the Prime Minister.

4. The Minister of Home Affairs shall submit to the Prime Minister for decision on the establishment and determination of the functions, tasks, powers, and organizational structure of the Management Board of the Dung Quat Economic Zone.

Article 28. The People's Committee of Quang Ngai Province shall be responsible for:

1. Exercising administrative state management functions over the Dung Quat Economic Zone within its territorial jurisdiction and shall participate in the management process of the Dung Quat Economic Zone through directing provincial departments to resolve matters within the scope of the People's Committee's functions and tasks according to their authority.

2. Cooperating with the Management Board of the Dung Quat Economic Zone to develop a comprehensive master plan for long-term construction and investment development of the Dung Quat Economic Zone, compile a list of long-term investment projects for approval by competent state authorities, and organize their implementation.

3. Approve the detailed land use plan and the detailed land use plan for the Dung Quat Economic Zone; carry out land acquisition and transfer land to the Management Board of the Dung Quat Economic Zone to organize construction and development of the Dung Quat Economic Zone in accordance with Clause 1 and Clause 2 of Article 18 of this Regulation;

4. Set land prices and levels of exemption and reduction of land use fees; levels of exemption and reduction of land rental fees for the Dung Quat Economic Zone in cases where land is transferred again or leased without going through public auction of land use rights or bidding for projects using land, and agree on financial plans and prices in cases of public auction of land use rights or bidding for projects using land;

5. Direct and organize for local authorities at all levels and functional agencies of the province to cooperate with the Management Board of the Dung Quat Economic Zone to implement compensation and clearance of land; define the scope of responsibility, develop action programs, and assign departments to monitor and manage areas within the Dung Quat Economic Zone according to each field;

6. Issue specific preferential policies and incentives in accordance with current regulations to implement priority recruitment and employment of local labor; support vocational training for local labor forces; create conditions for local labor forces to work in enterprises within the Dung Quat Economic Zone; encourage and attract highly skilled and experienced labor from other regions to work in the Dung Quat Economic Zone; support the construction of housing for workers; support the construction of resettlement areas; support investment promotion and trade promotion; support compensation and clearance of land to accelerate the investment and development process of the Dung Quat Economic Zone;

7. Create conditions for the Management Board of the Dung Quat Economic Zone to fully perform the tasks and powers stipulated in this Regulation; coordinate with relevant Ministries and sectors to organize management of the Dung Quat Economic Zone to develop rapidly and sustainably;

Article 29. The Ministry of Planning and Investment is the agency assisting the Prime Minister in monitoring the implementation of the construction and development of the Dung Quat Economic Zone according to the operational regulations, planning, plans, and progress approved by competent state agencies, and promptly submit to the Prime Minister for consideration and decision on the recommendations of the Management Board of the Dung Quat Economic Zone;

Article 30.

1. Ministries, ministerial-level agencies, agencies under the Government, and the People's Committee of Quang Ngai Province shall perform state management functions over industries, fields, and administrative territories within the Dung Quat Economic Zone within their respective functions, tasks, and powers; delegate authority and guide the Management Board of the Dung Quat Economic Zone to perform some state management tasks in fields such as investment construction, planning, natural resource management and environment, urban management and development, land management, labor, import and export, and other fields as prescribed by law and this Regulation, following the principle of "one-stop service" to facilitate investment and business activities of domestic and foreign organizations and individuals within the Dung Quat Economic Zone and the requirements for its development;

2. For fields not delegated or authorized to the Management Board of the Dung Quat Economic Zone, Ministries, ministerial-level agencies, and the People's Committee of Quang Ngai Province shall perform state management functions over the Dung Quat Economic Zone by organizing subordinate units within the Dung Quat Economic Zone and establishing coordination mechanisms with the Management Board of the Dung Quat Economic Zone to exercise the assigned authority;

Chapter VII

IMPLEMENTING PROVISIONS

Article 31. Other provisions related to the activities, rights, and obligations of domestic and foreign organizations and individuals engaged in production and business activities within the Dung Quat Economic Zone, which are not specified in this Regulation, shall be implemented in accordance with corresponding provisions of the Law on Foreign Investment in Vietnam, the Law on Encouragement of Domestic Investment, the Enterprise Law, the State Enterprise Law, the Cooperative Law, the Customs Law, the Land Law, the Trade Law, other tax laws, and other relevant legal documents and international treaties to which Vietnam is a party;

Article 32. Preferential treatments granted to domestic and foreign organizations and individuals engaged in production and business activities within the Dung Quat Economic Zone under this Regulation shall be applicable to domestic and foreign organizations and individuals already engaged in production and business activities within the Dung Quat Economic Zone before the issuance of this Regulation for the remaining period of preferential treatment from the date this Regulation takes effect. Domestic and foreign organizations and individuals engaged in production and business activities within the Dung Quat Economic Zone that have exceeded the investment incentive period as prescribed by laws on encouragement of domestic investment, foreign investment, and tax laws shall not enjoy investment incentives under this Regulation./.