According to the Deputy Head of the Economic Zone Management Department under MOPI Tran Duy Dong, obstacles in investment attraction in coastal EZs are due to lack of comprehensive and preferential policies which could stimulate domestic and foreign investment into these zones, especially in terms of large scale key investment projects.
Despite their favorable geographical locations and transportation infrastructure,
some EZs were established without necessary the conditions and they
have not conducted much reciprocal cooperation, or have not been
connected to one another, resulting in difficulties in investment attraction. The management teams of coastal EZs are limited both in number and specialty and therefore it is difficult to set up long term development strategies and to effectively manage.
Being located in difficult
regions for socioeconomic development, the establishment of most EZs
failed to account for local conditions and the national interest and the infrastructure of many EZs is not commensurate with requirements for development. The EZs seem to lack investment attraction strategies that focus on their comparative advantages. Most of the investment projects are in shipbuilding, seaport services, coastal resorts, seafood processing and thermal power plants, therefore they have not fully exploited their local comparative advantages and created competition in investment attraction.
In addition, investment promotion activities into coastal EZs remain limited. Some EZs have successfully attracted major projects but they lack human resources to carry them out.
Therefore, it's obvious that the targets laid out for Vietnamese coastal EZs have not been fulfilled. To ease difficulties in attracting investment into coastal EZs, Dong said that related agencies have to set up specific and objective principles and criteria to check and classify key EZs in the three regions. They need to speed up planning, land clearance, infrastructure development and environmental issues to improve the quality of these EZs.
They should also make adjustments in the activities of some EZs, associating them more clearly with specialization in the fields that they have comparative advantages in order
to create a breakthrough and avoid competition among EZs. Most of the
EZs still rely primarily on the State budget to develop their infrastructure; therefore they should be more active in seeking investment from other sources instead. In addition,
EZs should prioritize the development of human resources, especially
high quality human resources to meet the work force demand for investment projects in coastal EZs. Finally, agencies need to build national investment promotion programs for Vietnamese coastal EZs to improve the efficiency of investment promotion in the zones./.
Source: VEN.