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Development Project Implementation Procedure
  • Designation as an IFEZ Development
    Project Implementer
  • Application for approval of the development
    project implementer's implementation plan
  • Approval/Notice from the Minister of Trade
    Industry and Energy
  • Completion Inspection
  • Management/Disposal Plan
  • 01

    Step 01Designation as an IFEZ Development Project Implementer

    • Designation Criteria
      • Ability to attract foreign investment
      • Financial soundness and fund procurement capabilities are required
      • Experience implementing similar development projects
      • Details stated by the Minister of Planning and Finance for the smooth implementation of development projects
  • 02

    Step 02Application for approval of the development project implementer's implementation plan

    • Apply to the Minister of Trade, Industry and Energy (submit a copy of the implementation plan to the city or provincial governor)
    • Required Documents
      • Fund procurement and investment, recovery plan, and corresponding support documents
      • Foreign Investment Attraction Plan
      • Land purchase, compensation plan, and residents' relocation plans
      • Use, revenue, management and disposal of the land and facilities to be created
      • Statement of Environmental Impact
  • 03

    Step 03Approval/Notice from the Minister of Trade, Industry and Energy

    • Written notification within 6 months from the date of application
    • The same guidelines apply to the updated approval status
    • Consultation with the Governor and Mayor -> Deliberation and decision of the IFEZ Committee
    • Processing of authorization and permits (gather opinions of heads of relevant administrative agencies within 30 days)
  • 04

    Step 04Completion Inspection

    • Commencement should be within one year from the date of approval of the implementation plan
    • The deadline for project commencement can be postponed only once within the span of one year.
  • 05

    Step 05Management/Disposal Plan

    • Management/operation of sites and facilities must be in accordance with the revenue management and disposal plan