Criteria

Investment incentives

Investment assistance

Object

- Investment projects in business lines eligible for investment incentives;

- Investment projects located in the areas eligible for investment incentives;

- Any investment project whose capital is at least VND 6,000 billion of which at least VND 6,000 billion is disbursed within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines and which satisfies any of the following criteria: the total revenue is at least VND 10,000 billion per year within 03 years from the year in which the revenue is earned or the project has more than 3,000 employees;

- Projects on investment in social housing construction; investment projects located in rural areas and employing at least 500 employees; investment projects that employ persons with disabilities in accordance with regulations of law on persons with disabilities;

- Hi-tech enterprises, science and technology enterprises and science and technology organizations; projects involving transfer of technologies on the List of technologies the transfer of which is encouraged in accordance with regulations of the Law on Technology Transfer;

…

(Clause 2, Article 15)

Hi-tech enterprises, science and technology enterprises, science and technology organizations, enterprises investing in agriculture and rural areas, enterprises investing in education, dissemination of laws and other entities.

(Clause 2, Article 18)

Form

- Corporate income tax incentives, including application of a lower rate of corporate income tax for a certain period of time or throughout the investment project execution; exemption from and reduction of tax and other incentives prescribed by the Law on Corporate Income Tax.

- Exemption from import tax on goods imported to form fixed assets; raw materials, supplies and components for manufacturing purposes in accordance with regulations of law on import and export tax;

- Exemption from and reduction of land levy and land rents;

- Accelerated depreciation, increasing the deductible expenses upon calculation of taxable income.

(Clause 1, Article 15)

- Assistance in development of technical infrastructure and social infrastructure inside and outside the perimeter of the investment project;

- Assistance in training and development of human resources;

- Credit assistance;

- Assistance in access to business premises; assistance in relocation of business establishments under decisions of regulatory agencies;

- Assistance in science, technology and technology transfer;

- Assistance in market development and information provision;

- Assistance in research and development.

(Clause 1, Article 18)

Procedure

Based on the objects specified in Clause 2 Article 15 of this Law, the written approval for investment guidelines (if any), the investment registration certificate (if any) and other relevant regulations of law, investors shall determine investment incentives themselves and follow procedures for enjoying investment incentives at the tax authority, finance authority, customs authority or other competent authority corresponding to each type of investment incentive.

(Article 17)

- Pursuant to the planning decided or approved in accordance with regulations of the Law on Planning, Ministries, ministerial agencies and provincial People’s Committees shall formulate plans for investment and development and organize construction of technical infrastructure and social infrastructure beyond industrial parks, export-processing zones, hi-tech zones and dedicated areas of economic zones.

- The State shall provide assistance for part of the capital investment in development from the state budget and concessional loan capital in order to synchronously develop the technical infrastructure and social infrastructure inside and outside the perimeter of industrial parks in disadvantaged areas or extremely disadvantaged areas.

- The State shall provide assistance for part of the capital investment in development from the state budget, concessional loan capital, and employ other capital raising methods to develop the technical infrastructure and social infrastructure in economic zones and hi-tech zones.

(Article 19)