Chương 7 Nghị định 108/2009/NĐ-CP: Ưu đãi và bảo đảm đầu tư đối với nhà đầu tư và doanh nghiệp dự án

Chapter VII

INVESTMENT INCENTIVES AND SECURITY FOR INVESTORS AND PROJECT ENTERPRISES

Article 38. Investment incentives and supports

1. BOT and BTO enterprises are entitled to enterprise income tax incentives under the law on enterprise income tax.

2. Goods imported for implementing projects of BOT and BTO enterprises and contractors defined in Article 29 of this Decree are eligible for incentives under the law on import duty and export duty.

3. BOT and BTO enterprises are exempt from land use levy for the land area allocated by the State or from land use rent throughout the project implementation duration.

4. Incentives for BT enterprises are specified as follows:

a/ BT enterprises and contractors defined in Article 29 of this Decree are entitled to import duty incentives for goods imported for building BT works under the law on import duty and export duty.

Import duty on goods imported for implementing other projects complies with the law on import duty and export duty.

b/ BT enterprises are exempt from land use rent and levy for the land area used for building BT works in the work construction duration;

c/ Other projects are liable to enterprise income tax depending on the domains and geographical areas of investment under the laws on investment and enterprise income tax.

Article 39. Taxes on contractors participating in project implementation

1. Foreign contractors (if any) participating in project implementation shall pay taxes and enjoy tax exemption or reduction under the law on taxes applicable to foreign contractors.

2. Vietnamese contractors shall fulfill tax obligations under the law on taxes applicable to Vietnamese enterprises.

Article 40. Guarantee for obligations of investors, project enterprises and other enterprises

When necessary and depending on the characteristics of a project, the Government shall designate a competent agency to guarantee loans, supply materials, sell products and fulfill other contractual obligations for the investor, the project enterprise or other enterprises participating in project implementation, and to guarantee state enterprises' obligation to sell materials and purchase products and services of the project enterprise.

Article 41. Right to mortgage assets

1. Project enterprises may pledge or mortgage its assets and land use rights in accordance with law.

2. The pledge or mortgage of assets of project enterprises is subject to approval of a competent state agency, must not affect projects' objectives, progress and operation indicated in project contracts, and must comply with law.

Article 42. Right to buy foreign currencies

1. In the course of building and operating a work, the investor or the project enterprise may buy foreign currencies at credit institutions licensed to conduct foreign exchange operations for current transactions, capital transactions and other transactions under the law on foreign exchange management, covering:

a/ Payment of rent of equipment and machinery hired from overseas;

b/ Import of machinery, equipment and other products and services for the project implementation;

c/ Payment of foreign debts (both principal and interest);

d/ Payment of bank loans in foreign currencies (both principal and interest) for the import of machinery, equipment and other products and services for the project implementation;

e/ Transfer abroad of capital, profits, investment liquidation amounts and payments for the supply of techniques, services, intellectual property, and other lawful incomes (applicable to foreign investors).

2. The Government shall balance, or support the balance of, foreign currencies for important projects on energy, transport work construction and waste treatment.

Article 43. Assurance for provision of public services

1. Project enterprises may use land, roads and other auxiliary works for project implementation in accordance with law.

2. In case of scarcity of public services or restrictions on users of public works, project enterprises will enjoy priority in the use of services or the grant of the right to use public works for project implementation.

3. Competent state agencies shall assist project enterprises in carrying out necessary procedures to enjoy priority in the use of public services and works.

Article 44. Settlement of disputes

1. Disputes between competent state agencies and investors or project enterprises and between project enterprises and economic entities participating in project implementation must be first settled through negotiation or conciliation.

If failing to settle their disputes through negotiation or conciliation, the parties may bring such disputes to Vietnamese arbitral bodies or courts for settlement under Vietnamese law, except the cases specified in Clauses 2 and 3 of this Article.

2. Disputes between competent state agencies and foreign investors or project enterprises arising in the performance of project contracts and guarantee contracts under Article 40 of this Decree shall be settled at Vietnamese arbitral bodies or courts or arbitral councils set up by the parties as agreed.

3. Disputes between project enterprises and foreign organizations or individuals or Vietnamese economic institutions and between investors themselves shall be settled under the Investment Law.

Article 45. Capital and asset assurance

1. Investors' investment capital and lawful assets will never nationalized or confiscated through administrative measures.

2. When it is necessary to compulsorily purchase or requisition assets of investors, the State shall make payment or compensation for their assets and capital under the Investment Law or other conditions agreed in project contracts.