The Ministry of Industry and Technology (the “Ministry”) has published a New Organised Industrial Zones Implementation Regulation on 2 February 2019 (the “New Regulation”), which has repealed and replaced the former Organised Industrial Zones Implementation Regulation dated 22 August 2009 (the "Former Regulation"), effective from 2 February 2019.
Although the Ministry seems to have taken the route of publishing a new draft rather than amending the Former Regulation, the implementation process has not changed significantly in practice. In general, the amendments are aimed at: (i) providing various new benefits to those companies operating in organised industrial zones (the “Participants”), (ii) accelerating bureaucratic procedures and (iii) clarifying some of the uncertainties faced in practice. In addition, the New Regulation provides for certain new provisions relating to the self-management of the organised industrial zones.
This Client Alert sets out the key changes that have been introduced in the New Regulation.
Please click on the PDF file below to read the full Client Alert.