Development Implementation Procedure
Development Implementation Procedure
Step 01. Development Performer Designation for IFEZ
- Designation standards
- Attraction capability of foreign investors
- Financial solvency and fund procurement capability
- Experience in implementing similar developments
- Announcements of the Ministry of Finance and Economy to ensure smooth business implementation
Step 02. Implementation Plan Application for Development Performers
- Application to the Minister at Ministry of Trade, Industry & Energy(also submit a copy of the implementation plan to the mayors and governors)
- Required documents
- Fund procurement and collection plans with confirmation documents
- Foreign investment attraction plans
- Land procurement, compensation, and moving plans for residents
- Use, revenue, management, and disposal of constructed land and facilities
- Environmental influence evaluation
Step 03. Approval/Notification from the Ministry of Trade, Industry&Energy
- Written notification within 6 months of receiving the approval application
- Same guidelines for updated approval status
- Discussion of mayors and governors → deliberation and decision of the IFEZ committee
- Licensing agenda management (related administrative director should register an opinion within 30 days).
Step 04. Completion Inspection
- Must be performed within one year of the approval for implementation
- 1 postponement is allowed with a delay no longer than one year
Step 05. Management/Disposal
- Management/operation of the site and facilities in accordance with revenue management and disposal plan