HCMC - Haiphong has unveiled plans for northern Vietnam’s first free trade zone (FTZ), offering visa, tax, and infrastructure incentives aimed at improving competitiveness and drawing major international investors.
The announcement was made on December 11 at a conference jointly held by the Haiphong Economic Zone Authority and the Ministry of Finance’s Foreign Investment Agency, according to the city’s official information portal.
Le Trung Kien, vice chairman of the Haiphong People’s Committee, said the city has posted double-digit economic growth for 11 consecutive years and now ranks third nationwide in economic scale.
The new FTZ is enabled by Resolution 226 of the National Assembly, which allows Haiphong to pilot several special mechanisms to accelerate development. It is the first FTZ in northern Vietnam and is designed based on international models while leveraging the city’s strategic location and industrial strengths.
Kien said the FTZ would provide a more flexible legal framework for the movement of goods, helping businesses strengthen their global supply chains. Instead of relying solely on tax incentives, the city aims to create a streamlined administrative environment for investors.
Officials from the Foreign Investment Agency said the FTZ will apply special customs, taxation, and foreign-exchange mechanisms to reduce transaction costs and enhance competitiveness for investors.
Key policies include visa exemptions and 10-year temporary residence cards for foreign experts, scientists, managers, skilled workers, and their family members working at companies headquartered in the zone.
Investment projects inside the FTZ will be exempt from land and water surface rental fees for their entire leasing period, except for housing and commercial-service projects. Qualified foreign personnel will also enjoy a 50% personal income tax reduction for 10 years on salaries and wages earned from work conducted within the FTZ.
Businesses operating in functional areas of the FTZ will receive priority treatment for customs procedures related to exports and imports within the city.
