Chương IX Nghị định 15/2015/NĐ-CP: Ưu đãi và bảo đảm đầu tư

Chapter IX

INCENTIVES AND INVESTMENT GUARANTEES

Article 55. Investment incentives

1. Investors, the project enterprise shall be given the enterprise income tax incentives according to the laws on enterprise income tax.

2. Goods imported for the execution of projects shall have opportunities to approach incentives according to the laws on export and import tax.

3. Investors, project enterprises shall be entitled to exemption of land levies for the land allocated by the State or exemption from land rent during the execution of the project according to the laws on land.

4. Investors, project enterprises shall be also entitled to other incentives according to the law.

Article 56. Taxes levied on contractors involved in the project

Foreign and local contractors involved in the project shall fulfill their tax liabilities and shall be entitled to tax incentives according to the law.

Article 57. Guarantee for fulfillment of obligations assumed by investors, project enterprises and other enterprises

Based on the nature of specific projects and demands for the project execution, the Prime Minister shall appoint a competent agency as a representative of the Government to guarantee the supply of raw materials, consumption of products and services and other contractual obligations of the investors, project enterprise or other enterprises involved in the project and guarantee the obligations of the state enterprises who sell fuel, raw materials, purchase products or services of the investors, project enterprises.

Article 58. Collateralization of property, right to operate the project

1. Investors, project enterprises may use their property, land use rights and the right to operate the project as collateral to the lenders according to the laws of and the civil laws. The duration of such collateralization shall not exceed the duration of the project contract, unless otherwise agreed in the project contract.

2. Agreement on the aforesaid collateralization shall be made in writing and signed by the lender and the contracting parties.

3. Such collateralization shall not be allowed to affect the target, scope, technical standards, progress of the project and other conditions specified in the project contract.

Article 59. Guarantee of exercise of land use rights

The land use purpose shall be guaranteed not to change during the execution of the project contract, even when the lender exercises the right to take over the project according to Article 33 of this Decree.

Article 60. Guarantee of balancing of foreign currency

1. Investors, the project enterprises shall be entitled to purchase foreign currency at credit institutions that are licensed to perform foreign exchange transactions to meet the needs for current transactions, capital transactions and other transactions or transfer of capital, profits, liquidated outward investment according to the laws on foreign exchange management.

2. Projects that fall under the authority to decide the investment plans of the National Assembly, infrastructure construction projects that belong to the investment programs of the Government and other essential projects according to the decision of the Prime Minister shall be considered to ensure that foreign currency needs shall be met to carry out the transactions stipulated in Clause 1 of this Article.

3. Based on the socio-economic development orientation, foreign exchange management policy, the ability of foreign currency balancing in each period and the target, the nature of the project, the Prime Minister shall decide and appoint a competent agency to balance foreign currency for the project specified in Clause 2 of this Article according to the proposal sent by Ministries, regulatory bodies or local authorities.

Article 61. Guarantee of provision of public services

1. Investors, project enterprise shall have the right to use land, roads and other ancillary facilities to implement the project in accordance with the law.

2. Where there is the scarcity of public services or restrictions on entities eligible to use public works, investors, project enterprise shall be given the priority to provide services or obtain rights to use public works for the purpose of project execution.

3. Competent authorities shall be responsible for supporting investors, project enterprise in following required procedures to be granted priority to use public utilities and facilities.

Article 62. Guarantee of property ownership

1. Lawful property of investors shall not be nationalized or confiscated by applying administrative measures.

2. Where the State purchase or requisition of property by reasons of national defense, security or national interests, emergencies, natural disaster prevention or mitigation, is needed, the investor is paid compensation under the provisions of investment law, or the law on government purchase or expropriation of assets and the terms agreed in the contract project.

Article 63. Settlement of disputes

1. The dispute between a regulatory agency and an investor or a project enterprise, or the dispute between a project enterprise and an economic organization participating in the project, shall be initially negotiated or mediated. If a dispute cannot be settled by such negotiation or mediation, the contracting parties may lodge the case to the arbitration or the Vietnamese court for settlement according to Vietnamese laws, except for the cases specified in Clause 2 and 3 of this Article.

2. The dispute between a competent agency and a foreign investor or a project enterprise established by a foreign investor under the regulation in Article 42 of this Decree in the process of the project contract execution and the guarantee contract stipulated in Article 57 of this Decree shall be settled by the arbitration or Vietnamese court or the arbitration council established under the agreement between the parties concerned.

3. The dispute between a project enterprise and a foreign organization/individual or a Vietnamese organization, and the dispute among the investors shall be resolved in accordance with the Law on Investment.

4. Disputes resolved by the arbitration specified in the project contract and the relevant contracts are deemed trade disputes. The decision of a foreign arbitration is recognized and enforced in accordance with the law on recognition and enforcement of decisions of foreign arbitration.