Investment Incentives
Investment supports for general projects
1. Incentives for land lease prices
The investment projects entitled with leased land with annual rent payment at a percentage of 0.5% / year (lowest level prescribed by the government) to determine the land rent unit price. In case the investors choose to pay the rent for the entire period, the land rent is determined according to the current regulations of the State
2. Support for construction of essential infrastructure and resettlement areas (if any) of the project
a) For especially encouraged projects: the level of support equivalent to 20% of the cost of compensation and site clearance of the land area of the project implemented under the plan already approved by the competent authorities but not exceeding 20 billion VND/project for the investment projects using the land up to100 hectares; not exceeding 30 billion VND/project for the investment projects using over 100 ha.
b) With respect to investment encouragement projects: the level of support equivalent to 10% of the cost of compensation and site clearance of the land area of the project implemented under the plan already approved by the competent authorities but not exceeding 20 billion VND/project.
3. Support for compensation, site clearance
For investment projects not subject to land acquisition by the State: The province will reserve local clean land for investors to implement projects in the field of special investment encouragement. For the other projects, the province will assign an organization in charge of compensation and site clearance in cooperation with local authorities to support the investors implementing compensation, site clearance. When 70% or more of the households affected by the project have reached an agreement, the province will deal with the remaining households to facilitate site clearance to ensure progress for investors to implement the projects.
The province will assist investors in the procedures for transfer or goals of land use, land lease and capital contribution with land use rights.
4. Support for construction of central wastewater treatment facilities of industrial parks, industrial clusters, and functional areas in economic zones
Investors of the project to build and trade in infrastructure of industrial parks, industrial clusters, functional areas in economic zones are able to get a support of 30% from the provincial budget for the construction cost of central wastewater treatment facilities but not exceeding 10 billion VND/functional area in economic zones; not exceeding 05 billion VND/industrial cluster.
5. Support for training workers
- 500,000 VND/labor /training course from 05 days to less than 10 days.
- 2,000,000 VND/labor/training course from 03 months to less than 06 months.
6. Support for promotion of investment attraction
Support of 0.3% of the total investment capital (for projects in Groups A, B, C as stipulated in Decree No. 59/2015/ND-CP dated 18/06/2015 of the Government on management of construction investment projects), but the maximum level of support is as follows:
a) 100 million VND for projects in Group C.
b) 200 million VND for projects in Group B.
c) 300 million VND for projects in Group A.
Investment supports for encouraged-socialized projects
In addition to the incentives, general support when investing in the fields encouraged for socialization, investors also enjoy the following incentives and support:
1. Land lease incentives:
State competent agencies facilitate investors to lease land exempted from land rent for the entire lease term for construction of socialization works.
2. Incentives for renting infrastructure
a. Investors have priority in leasing infrastructure, socialized works to provide products and services in the field of social mobilization as stipulated in Decree No. 69/2008 / ND-CP dated 30/5 / 2008, and Decree No. 59/2014 / ND-CP dated 16.06.2014of the Government.
b. The duration for leasing infrastructure, socialized works is decided by the Provincial People’s Committee for each specific case, but not less than 10 years. When this term expires, if the socialization institutions still have the demand for socialization infrastructure, works, they shall be given priority to renew its lease; the duration of an extended period is not less than 05 years.
3. Support for infrastructure investment cost
The projects encouraged for socialization in building houses, facilities in the projects, new towns already invested in infrastructure construction have to pay for infrastructure cost shall be supported by the State in infrastructure investment, with the level of support in each area as follows:
a) Areas of wards in QuangNgai city and district towns in the plain: 50%.
b) Areas of towns in mountainous districts and communes of districts and cities: 70%.
c) Areas of communes in mountainous districts and in Ly Son island district: 90%.
Investment supports for projects in fields of agriculture, rural area
Also enjoy general support, while investment in agriculture and rural investors are also entitled to support:
1. For the cattle and poultry slaughter houses: support 70% of total investment in building infrastructure for electricity, water, workshops, waste treatment and purchase of equipment, but not exceeding 01 billion VND/project.
2. For livestock farms: support 70% of total investment in infrastructure construction of waste treatment, transport, electricity, water, workshops, pastures and equipment purchase, but not exceeding 1.5 billion VND/project.
3. for investment in safe vegetable production areas: support 70% of the total investment in the field construction, the primary processing, and storage, purchase of machinery and equipment, but not exceeding 1.5 billion VND/project.
4. For investment in medicinal plant production areas: support 15 million VND/ha for the construction of pharmaceutical plants producing regions; support 70% of total investment for construction of seedling production, but not exceeding 1 billion VND/institution.
5. In case of projects under points 1, 2 and 3 mentioned above without available roads (road surface width under 3m and not yet betonized), electrical system, water supply to the project fence shall be supported 70% of the total investment of the items of work mentioned above, but not exceeding 2.5 billion VND/project.
