On July 10th, the Ministry of Justice in Vietnam announced that it is studying comments on the Urban Development Law (formerly known as the Special Urban Areas Law), which proposes a new governance model. According to experts, the project reflects a significant shift in the development mindset for economic zones, moving towards creating an integrated development space rather than the current overlapping administrative procedures. They believe that coastal economic zones in central Vietnam possess several advantages, including deep-sea ports, extensive land reserves for industrial development, and roles as emerging centre’s for energy, logistics, and manufacturing industries. The competitive edge of these coastal economic zones increasingly depends on tax incentives, land availability, institutional quality, governance capacity, and the speed of project implementation.
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