Chương III Nghị định 118/2015/NĐ-CP: Ưu đãi và hỗ trợ đầu tư

Chapter III

INVESTMENT INCENTIVES AND INVESTMENT ASSISTANCE

Section 1. INVESTMENT INCENTIVES

Article 16. Entities eligible for investment incentives and rules for applying investment incentives

1. The entities eligible for investment incentives specified in Clause 2 Article 15 and Article 16 of the Law on Investment include:

a) Investment projects in business lines eligible for investment incentives or special investment incentives specified in Appendix I of this Decree;

b) Investment projects in disadvantaged areas or extremely disadvantaged areas specified in Appendix II of this Decree;

c) Any investment project whose capital is VND 6,000 billion or over, at least VND 6,000 billion is disbursed within 03 years from the issuance date of the Investment Registration Certificate or the decision on investment guidelines (if the project is not required to obtain an Investment Registration Certificate);

d) Any investment project in a rural area which employs 500 workers or more (not including part-time workers and workers whose employment contracts are shorter than 12 months);

dd) High technology enterprises, science and technology enterprises, science and technology organizations defined by regulations of law on high technology, science and technology.

2. Rules for applying investment incentives:

a) Investment projects specified in Point c Clause 1 of this Article are eligible for the same investment incentives as investment projects in extremely disadvantaged areas;

b) Investment projects specified in Point d Clause 1 of this Article are eligible for the same investment incentives as investment projects in disadvantaged areas;

C) Investment projects in business lines eligible for investment incentives in disadvantaged areas are eligible for the same investment incentives as investment projects in extremely disadvantaged areas;

d) an investment project that is eligible for various levels of investment incentive may apply the highest level;

dd) Corporate income tax (CIT) incentives for investment projects in industrial parks, export-processing zones specified in Section 55 of Appendix II to this Decree shall comply with regulations of law on CIT;

e) Land rent incentives in industrial parks, export-processing zones specified in Section 55 of Appendix II to this Decree do not apply to investment projects in industrial parks and export-processing zones in urban districts of special class and class I central affiliated cities, and class I provincial cities.

Article 17. Procedures for applying investment incentives

1. Investment incentives written on an Investment Registration Certificate or decision on investment guidelines include:

a) The entity eligible for investment incentives as set out in Article 16 of this Decree;

b) The basis for application of investment incentives according to regulations of law on taxes and land.

2. The investor in an investment project required to obtain an Investment Registration Certificate or decision on investment guidelines shall receive investment incentives according to the investment incentives on the Investment Certificate or decision on investment guidelines. The basis for applying investment incentives to science and technology enterprises is the Certificate of Science and Technology Enterprise.

3. Investors in projects other than those specified in Clause 2 of this Article shall determine their investment incentives and follow procedures for receiving investment incentives at incentive-applying authorities according to Clause 1 Article 16 of this Decree and relevant regulations of law.

4. Investment incentives are adjusted in the following cases:

a) Where an investment project satisfies conditions for receiving additional investment incentives, the investor shall receive them for the remaining incentive period;

b) The investor shall not receive incentives written on the Investment Registration Certificate or decision on investment guidelines if the project fails to satisfy conditions for investment incentives specified in the Investment Registration Certificate or decision on investment guidelines. Where the project satisfies conditions for other investment incentives, the investor shall receive such incentives;

c) Where an investment project fails to satisfy conditions for investment incentives for a certain period of time, the investor shall not receive such incentives over such period.

5. A new business organization or a business organization executing an investment project derived from a corporate conversion, ownership transfer, division, acquisition, consolidation, or investment project transfer shall inherit the investment incentives to which the investment project is entitled before the conversion, division, acquisition, consolidation, or transfer.

Section 2. INVESTMENT ASSISTANCE FOR INDUSTRIAL PARKS, EXPORT-PROCESSING ZONES, HI-TECH ZONES, ECONOMIC ZONES

Article 18. Assistance in construction of infrastructure of industrial parks and export-processing zones

1. The scope, subjects, principles, criteria, limits of investment assistance from central government budget for construction of infrastructure of industrial parks and export-processing zones in disadvantaged areas or extremely disadvantaged areas shall comply with the applicable Industrial Park Infrastructure Investment Target Program.

2. The People’s Committees of provinces shall balance their budgets to provide assistance for investors in development of infrastructure inside and outside industrial parks and export-processing zones.

Article 19. Assistance in development technical and social infrastructure of economic zones and hi-tech zones

1. State budget shall provide funding for assistance in:

a) Development of technical and social infrastructure in hi-tech zones; development of technical and social infrastructure, and important public facilities in economic zone;

b) Land clearance and compensation, demining in hi-tech zones and specialized areas of economic zones;

c) Land clearance and compensation, construction of technical and social infrastructure of housing areas for workers and relocation areas for people whose land in economic zones and hi-tech zones is withdrawn;

d) Investor in construction of concentrated solid waste treatment zone and concentrated sewage treatment systems that meet environmental standards of hi-tech zones and specialized areas in economic zones.

2. Apart from the types of assistances specified in Clause 1 of this Article, hi-tech zones shall receive other incentives for investment in development of technical infrastructure as specified in regulations of law on hi-tech zones.

3. The Prime Minister shall decide policies on development of housing in hi-tech zones.

Article 20. Investment in technical infrastructure in industrial parks and export-processing zones

1. Investment in operation of technical infrastructure of an industrial park or export-processing zone must conform to detailed construction planning of the industrial park or export-processing zone which is approved by a competent authority.

2. With regard to a disadvantaged area, depending on its conditions, the People’s Committee of the province shall request the Prime Minister to establish or appoint a revenue-earning public service agency as an investor in the project for construction and operation of technical infrastructure or the industrial park or export-processing zone.