VietNamNet Bridge – Kien Giang provincial authorities’ proposal to allow the dollar to be used in Phu Quoc Special Economic Zone (SEZ) has stirred controversy.In an effort to attract foreign investors, Kien Giang authorities have offered many preferences. Expats who work in Phu Quoc for three months or longer will be able to buy and sell properties in the SEZ with permanent ownership suggested for house and villa owners and 99-year ownership for apartment buyers.Kien Giang may allow the dollar to be put into circulation in the SEZ and permit conversion of other currencies into dollars. Those who gamble at casinos in Phu Quoc may be allowed to bring money out of the SEZ without a State Bank license after they pay taxes.Under current law, Vietnam dong is the only currency which can be used in payment transactions in Vietnam.
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