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Investment promotion conference scheduled on 5/8 in Nam Dinh, Thai Binh   2009-08-02 - VietNamNet/Nhan Dan

Tran Minh Oanh, Chairman of the Peope’s Committee of Nam Dinh province speaks of some incentives for investors.

A conference on investment promotion in Nam Dinh and Thai Binh provinces is due to open on August 5 in Nam Dinh city with the aim of attracting more investors at home and abroad.

This is announced at a press briefing on July 30, held by the Vietnam Chamber of Commerce and Industry (VCCI) in co-ordination with the Central Enterprises Bloc and the people’s committees of Nam Dinh and Thai Binh provinces.

According to VCCI Chairman Vu Tien Loc, this is the first conference on investment promotion in the country in the post - economic recession period in Asia as well as in the world as a whole. So, the conference aims to take one step ahead of an ‘investment wave’ from enterprises at home and abroad.

He said that the conference would have a participation of around 500 delegates representing some foreign embassies in Vietnam whose countries have had good investment ties with Vietnam and several international organisations such as the World Bank and the Asian Development Bank, and ministries and branches, provinces and cities which are able to co-operate and help Nam Dinh and Thai Binh provinces, as well as investors, economic groups, associations and enterprises operating in the two provinces.

There will also be many other sideline activities during the conference such as the meetings among enterprises so that they can exchange information on co-operation and investment, the field trips to industrial parks and potential economic areas of the two provinces, he added.

In response to a question about whether there is still any more competition between Nam Dinh and Thai Binh provinces when both provinces together hold a conference on investment promotion, Mr. Loc stressed that what investors take special interest in now is the linkage with enterprises in neighbouring provinces in each region so that input and output are available for their business and production activities.

They also pay much attention to supporting industries. So, when they examine a investment prospect, they will take a general outlook in the whole area or a group of provinces into consideration. Therefore, if any investor pours money into Thai Binh province, Nam Dinh province will also benefit from it and vice versa.

Incentives given by Nam Dinh to investors

Incentives in land and water surface rents

-   Land and water surface rents during the construction under the project approved by a competent authority shall be exempted in the event the project has many items or independent construction periods, exemption of land rents shall be considered for each separate item or each independent construction period; in the event it is impossible to calculate each separate item or each independent construction period, the construction time shall be calculated in accordance with the item with the largest capital proportion.

-         Exemption of land and water surface rents shall start right from the date the construction is completed.and the project is put into operation, specifically:

+ Three years for the projects in the List of investment encouragement, at the new production and business facilities of the economic organisation which moves out under the planning or due to environmental pollution.

+ Seven years for the investment projects in the locality with difficult socio-economic conditions; projects in the List of special investment encouragement.

+ Eleven years for the investment projects in the List of investment encouragement in the localities with socio-economic conditions.

Incentives in business income tax

(In accordance with the stipulations of the Vietnamese Government)

Other incentives

-         The secondary investor in the industrial park which sends workers for further training or organises vocational training for the workers with permanent residence in Nam Dinh province, working at the enterprise shall be supported by the provincial budget for one single time at VND 1 million for each worker with vocational certificate issued by the training units, with training contract and labour contract for two years or more; with social and health insurance premiums already paid in accordance with the laws.

-         Foreign investors which carry out investment project outside industrial parks shall be supported only once by the provincial budget when they send workers for further training in new technology and working permanently in the enterprise, with social and health insurance premium already paid in accordance with the laws (with contract, training certificate and approved project) with VND 700,000 for each person.

-         These investors shall enjoy a 50% reduction of advertisement cost on Nam Dinh Newspaper and Nam Dinh Province Radio and Television Station in 2 years but this shall not exceed 50 times (if invested in the industrial park), or 40 times (if invested outside the industrial park) on each kind of mass media, from the first advertisement. Advertisement area on the newspaper shall not occupy more than 1/4 page. The length of time for each advertisement on the Radio and Television Station shall not longer than 2 minutes.

-         Foreign investors shall enjoy clean water selling price, waste collection fee and other services fees as determined by the local authorities n the same way as other domestic enterprises.

Source: The People’s Committee of Nam Dinh province


Incentives given by Thai Binh to investors

-         The projects which belong to the area of investment encouragement shall be supported with VND 20,000 per square metre for floor space clearing and VND 40,000 per square metre for projects using hi-tech facilities.

-         The projects which belong to the area of investment encouragement shall be supported with VND 700,000 to 1,200,000 for training for each worker.

-         Land rents: Land rents shall be applied in accordance with the lowest level frame stipulated by the Government and shall be in keeping with the actual situation in the locality.

-         Tax policy: The current tax policies shall be applied in such a way as to serve the best interests of businesses.

-         The province and service branches shall over construction costs for technical infrastructures (communication road, the power and water supply and drainage system…).

Source: The People’s Committee of Nam Dinh province


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