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TEMPORARY REGULATION FOR INVESTMENT INCENTIVE POLICIES AND SUPPORTING PRODUCTION

In addition to the current incentive policies of Vietnamese Government, investors are subject to further incentives of local authority.

1. Encouraging fields for Investment

a.   Information Technology, Biological technology, Electronics, New Substance Production.
b.   Investment in health, education, culture and sports.
c.   Handicraft industry productions.
d.   Agro-forestry-fishery processing.
e.   Investment in building eco-tourism zone, entertainment, tourist villages, four - star to five - star hotels of international standard.
f.   Investment in infrastructure of industry zone, sub - region, IPZs, industrial zone.

2. Incentives to land rental

a.   Get supporting for a rental during the period infrastructure, building installation, trial running, and pending production time.
b.   Investment Projects in Bach Ma, Nam Dong District has an exemption of land rental during the whole project life.
c.   Projects, invested in Huong So small industry zone, Chan May commerce Town, Lang Co resort, has an eligibility to apply minimum land rental of 0.03 USD/m2/year and not over 0.18 USD/m2/year and an exemption from land rental for the following 5 years. Investment Projects in prioritized industries will enjoy an exemption from land rental for the following 7 years from the day of land transfer.
d.   Investment Projects in Phu Bai industry zone, will benefit a land rental price of 0.32USD/m2/year for available infrastructure and exemption from land rental for following 10 years from the day of land transfer.
e.   Projects, invested in one of the above prioritized industries and in districs such as Phu Loc, Huong Thuy, Huong Tra, Phong Dien, Quang Dien are subject to the lowest rental level under the Government's Regulation and an exemption of the following 7 years.
f.   Projects, invested in the construction of infrastructure of Industrial Zone or Industrial Sub-region, in the Phu Bai industrial zone and Hue City will benefit special price for primary land under the State's Regulation and their exemption for the following 14 years. If any projects invested in the rest of the province, they will receive their exemtion for land rental in the next 7 years.
g.   Projects, invested in the above prioritized industries in Hue City, The provincial People's Committee will consider a reduction of location indicators and of infrastructure availability depending upon each project but not less than the coefficient in compliance with existing regulations of the Government.
h.   Project invested in eco-tourism, entertainment, tourist village activities, four-star hotels of international standard. For construction areas, land rental is applied under this Regulation, and for the landscaping areas the province authority will consider to exempt from land rental depending on its objectives and scale.
i.   Projects invested in communes, hamlets of the six remaining districts such as Phu Loc, Huong Thuy, Phu Vang, Huong Tra, Phong Dien, Quang Dien.

3. Tax incentives

The provincial authority will support 100% actual income tax of enterprises (which is the revenue of provincial budget) from the time when income subject to taxation arised in a period of 4 - 8 years depending on locality and industry.

4. Other encouragement policies

a.   Compensation and site clearance
The task of compensation, site clearance and hand transfer to investors in a span of less than 60 days from the signing day of investors on the land rental contract and the local authority will consider to partly or completely contribute its fund to the compensation or site clearance depending upon investment project's dimension and location. After one year, since the time when investors are transferred the land, if no construction is made without proper reason, the land will be taken back by province.
b.   One-price policy
Pricing and other their fees like tap water, water, rubbish, collection, construction and others under the provincial People's Committee are applied equal to pricing of domestic investors.
c.   Training cost support
Investors are supported 30% at maximum in skill training for the fist time or retraining when shifting the hi-tech transfer to workers doing directly in domestic vocational training centers. In case of training based on hi-tech transfer contract in unit or transfer workers to abroad for training, investors will get the above favor policy as much as domestic vocation training assistance.

5. Premium for investment attractors

Various awards to organizations, individuals, who contribute to attract investors to Thua Thien Hue province are specified as follows:

  • Project capitalized from USD 100,000 to less than 1,000,000: awarded 20 million VND
  • Project capitalized from USD 1,000,000 to less than 5,000,000: awarded 30 million VND
  • Project capitalized from USD 5,000,000 to less than 10,000,000: awarded 40 million VND
  • Project capitalized from USD 10,000,000 to less than 20,000,000: awarded 60 million VND
  • Project capitalized over USD 20,000,000: awarded 100 million VND

The above premium will be released 50% after investment procedure is completed in compliance with State regulations and the rest will be transferred after the project come into effect.

6. Products consumption premium

a.   Premium policy for new product consumption in replacement of foreign product import is applying the existing regulations of the State. In special case, the provincial People's Committee will consider and provide subsidy to each kind of products.
b.   For hi-tech products or new material production with high risks the premium will be maximum in compliance with existing regulation of the State at the initial time to introduce to foreign market, the provincial People's Committee will consider and decide the following policies:
  • Award to clients consuming large volume
  • Provide assistance to trials on new production line.
  • Ensure protection to products of high risks
  • c.   Enterprises, who register or apply the quality management system of ISO 9000, ISO 14000, SA 8000, HACCP, GMP, etc will be assisted 30% fee for certificate which enterprises suppose to pay upon contract appraised by the relevant authority. Enterprises or individuals register on their trademark, patent right, etc will enjoy a 50% subsiding for the cost of contract after being appraised by relevant authority.
    d.   Enterprises or individuals register on their trademarks, patent right, etc will enjoy a 50% subsidy for the cost of contract after being appraised by relevant authority.

    7. Time-limits for issuance of investment license

    a.   Any project under the Provincial People's Committee's decision or the provincial industrial zone management board, time-limits for issuance of investment license from the date of receipt of the proper file, shows follows:
  • Projects subject to registration for issuance of investment license: less than 3 working days.
  • Project subject to evaluation for issuance of investment license: less than 7 working days.
  • b.   Time limits for evaluation for issuance of investment incentives is less than 5 working days from the date of receipt of the proper file.
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