Vietnam targets three special economic zones by 2030

Vietnam aims to establish three special economic zones by 2030, as outlined in the conclusions of the Second Plenum of the 14th Party Central Committee on the plan for socio-economic development, fiscal policy and debt management, and medium-term public investment for 2026-2030. The document links the initiative to the broader goal of sustaining rapid, sustainable development, targeting average GDP growth of about 10% per year or higher while maintaining macroeconomic stability, controlling inflation, and ensuring major balances.

Targets for 2026-2030 and the three special economic zones

By 2030, Vietnam is expected to be a developing country with modern industry and upper-middle income, among the world’s top 30 economies by GDP. In Appendix 1 of the conclusions—“Key indicators for 2026-2030 to realize double-digit growth”—the plan specifies a target of three special economic zones by 2030. The conclusions also emphasize that these zones should be modern, world-class, and aligned with regional and global standards.

Government push to remove bottlenecks

According to Tuổi Trẻ, in mid-March, Prime Minister Phạm Minh Chính chaired Standing Government meetings to address key issues to further remove bottlenecks, persistent obstacles, and pending projects. The Standing Government directed agencies to continue refining the “project to study and assess comprehensively issues promoting socio-economic development through the special economic zones of Van Don, Van Phong and Phú Quốc.”

The Prime Minister asked agencies to follow the Politburo’s conclusions and sectoral responsibilities, proposing pilot policies and breakthrough, catalytic measures that are game-changing and supportive, while ensuring focus.

Overview of Van Don, Van Phong and Phú Quốc

Van Phong Special Economic Zone (Khanh Hoa)

Van Phong covers about 150,000 hectares, including roughly 70,000 hectares of land and islands (excluding submerged land) and about 80,000 hectares of water area. It is designed as a multi-sector, multi-field economic zone and the economic hub of Khanh Hoa, intended to drive investment and development for neighboring areas and the country.

Current developments include six industrial zones with a total area of 1,700 hectares and two urban development projects with expected total investment above 100 trillion VND.

Phú Quốc Special Zone (Kiên Giang)

Phú Quốc spans roughly 575 square kilometers, including the main island and about 20 smaller islands, with a population over 153,000. Its strategic location supports both economic and security objectives, while its forest and marine ecosystems underpin tourism and a green economy, alongside opportunities for a circular economy.

Phú Quốc has attracted more than 330 active investment projects with registered capital totaling about 504.6 trillion VND. Land use covers over 10,750 hectares. The zone was selected to host the 2027 APEC summit.

Van Don Special Zone (Quảng Ninh)

Van Don covers about 2,171 square kilometers, including about 583.9 square kilometers of land and 1,587.4 square kilometers of sea, with some 600 islands. The population is around 53,900.

The zone is planned as a center for marine-ecological tourism, high-end services, entertainment, high-tech industries, logistics, high-tech research, finance, and creative services. To date, Van Don has attracted more than 60 trillion VND from private investors, particularly in real estate and infrastructure.

(Compiled.)