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Vietnam's HCM City to establish special economic zone

Xinhua, August 18, 2015 Adjust font size:

Vietnam's Ho Chi Minh City is set to create a special economic zone spanning four districts to boost development, local online newspaper Tuoi Tre ( Youth) News reported Tuesday.

The proposed special economic zone will be located in the four districts of 7, Can Gio, Binh Chanh and Nha Be to"leverage the potential and advantages for growth of Ho Chi Minh City,"said the municipal People's Committee Chairman Le Hoang Quan. The zone will help attract investment, boost growth, improve infrastructure, generate jobs and strengthen import-export activities, he noted.

Once the proposal to set up the special economic zone is completed, the municipal administration will have to obtain approval for it from the municipal People's Council and Party Committee, before seeking permission from the prime minister. Endi