The Government of Vietnam has officially issued Decree No. 35/2022/NĐ-CP on the management of industrial parks (IPs) and economic zones (EZs), providing a comprehensive framework for investment, infrastructure, and sustainable development in these areas.
Comprehensive Regulatory Framework
Table of Contents
The Decree, consisting of 8 chapters and 76 articles, regulates key aspects including:
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General provisions on management and planning of industrial parks and economic zones,
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Investment and infrastructure development,
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Formation and policies for IP and EZ development,
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New models such as industrial–service–urban complexes,
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National information systems on IPs and EZs,
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State management mechanisms,
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Organizational structure and responsibilities of management boards,
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And implementation clauses.
Simplifying Procedures for Industrial Park Establishment
One of the most notable changes in Decree 35/2022/NĐ-CP is the elimination of the formal “establishment procedure” for industrial parks.
An industrial park is now officially recognized as established upon approval of one of the following by competent authorities:
a) A decision on investment policy for infrastructure projects financed by public investment under the Law on Public Investment; or
b) A decision approving the investment policy concurrently with investor approval, investor selection, or issuance of an Investment Registration Certificate for infrastructure construction and business activities under the Law on Investment.
This adjustment aims to reduce administrative procedures, streamline project implementation, and accelerate industrial park development.
Conditions for Industrial Park Infrastructure Investment
Decree 35 also updates and refines the requirements for infrastructure investment and business operations based on provisions inherited from Decree No. 82/2018/NĐ-CP, ensuring alignment with Articles 7(2) and 7(3) of the Law on Investment.
Investors developing and operating industrial park infrastructure must meet the following conditions:
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Comply with real estate business regulations under the Law on Real Estate Business.
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Meet land allocation or lease requirements according to laws on land, forestry, and related regulations.
For foreign investors, newly established economic organizations must be eligible to receive land allocations, leases, or land-use conversion rights consistent with Vietnam’s land and investment laws.
If investor selection is conducted through bidding, the evaluation criteria will include:
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Financial and capacity standards, based on legal and project-specific requirements;
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Experience standards, evaluated through the scale, progress, and implementation record of past industrial or real estate projects;
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Technical standards, based on the approved industrial park planning and investment policy decision;
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Financial–commercial criteria, aligned with investment and land-use laws for projects involving land.
Conversion of Industrial Parks into Urban–Service Areas
Decree 35/2022/NĐ-CP introduces provisions for converting industrial parks into urban–service complexes, reflecting Vietnam’s ongoing industrial restructuring and urbanization trends.
Conditions for conversion include:
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Compliance with provincial and urban master plans,
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The park’s location within central urban areas of special-grade cities or grade-I cities under central or provincial authority,
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A minimum 15-year operational period since establishment (or half of its licensed term),
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Investor and enterprise consensus, with at least two-thirds of enterprises agreeing to the conversion (except cases of expired or non-renewable projects, or those causing serious pollution requiring relocation),
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Demonstrated socio-economic and environmental efficiency.
Conversion may apply to part or all of the industrial park area. Once the Prime Minister approves the conversion, the infrastructure developer must carry out project adjustment procedures in line with laws on public investment, land, housing, construction, and real estate business.
Investor selection for new urban–service projects will follow regulations under the Law on Investment, Law on Bidding, Law on Land, and Law on Housing.
Conclusion
Decree 35/2022/NĐ-CP marks a significant milestone in Vietnam’s industrial policy reform, shifting from administrative control to investment facilitation, and opening new opportunities for green, multi-functional, and integrated industrial–urban ecosystems.