HCM City to Shorten Licensing Period for Projects in IPs, EPZs

Authorities of HCM City from September 1, 2004 will apply the mechanism of “One-stop, On-spot” by assigning only project management units to grant licenses to projects in industrial parks (IP) and export processing zones (EPZ) within five days, and only the city’s Department of Planning and Investment to settle procedures for projects outside IPs and EPZs.

To create an efficient and friendly environment for investors, the city has cooperated with police forces and customs officers at border gates and airports to warmly welcome investors and has planned to open separate gates at airports to receive the special guests.

To improve the investment environment, the city has decided to make a breakthrough in the three fields of land, administrative procedures and security. It will develop an additional two to three IPs with a total area of 500 hectares in thinly populated areas by the year-end.

• S.P