Investments in Nhon Hoi Economic Zone

1. Investments in Nhon Hoi Economic Zone:

The investment projects in Nhon Hoi Economic Zone shall be entitled to the incentives applicable to areas with especially difficult economic-social conditions as prescribed by the law of Vietnam.

1.1. For large-scale projects with a long capital recovery period which invest in the functional areas of the economic zone, investors may be allocated or leased land within up to 70 years for project implementation.

1.2. Corporate income tax rate: The preferential tax rate is 10% within 15 years from the time the project is put into operation. The tax rate from the time beginning to generate taxable income shall be exempt for 04 years and reduced 50% for the next 09 years. For large-scale projects with new or advanced technology which is in need of special attraction of investment, the period for applying the preferential tax rate can be extended, but not exceeding 30 years as decided by the Prime Minister.

1.3. Import-export tariff will be exempted for imported goods for creating fixed assets of the investment projects that are entitled to preferential import-export taxes, including

a) Equipment and machinery;

b) Means of transport for production lines that cannot be produced domestically; means of transporting workers, including cars with 24 seats or more and waterway vehicles;

c) Components, details, parts, spare parts, fixtures, molds and accessories for assembling with equipment, machinery and means of transport specified in point a and point b of this paragraph;

d) Raw materials and supplies that cannot be produced domestically for manufacturing equipment and machinery in production lines or components, details, parts, spare parts, fixtures, molds, accessories for assembling with the equipment and machines specified in point a;

đ) Construction materials that cannot be produced domestically

1.4. Exemption of import duties shall be applied within the first 05 years to raw materials and semi-finished products that Vietnam has not been able to manufacture or can produce with substandard quality;

1.5. Personal income tax shall be reduced 50% for high income earners working in the Economic Zone.

2. Investments in the industrial zones (other than Nhon Hoi Economic Zone):

 2.1. For Nhon Hoa Industrial Zone:

- Exemption of corporate income tax: Corporate income tax shall be exempted for 2 years from the time beginning to generate taxable income and reduced 50% for the next 4 years.

2.1. For Hoa Hoi, Cat Trinh and Binh Nghi Industrial Zones, investments in those IZs will be applied the preferential tax policies similar to those applied to investments in Nhon Hoi Economic Zone due to the specially difficult economic-social conditions in those areas.

3. Some other supporting policies of Binh Dinh Province.

 - Support for investors in IZ infrastructure construction of concentrated wastewater treatment plants.

- Support for enterprises producing furniture, organizing trade promotion activities, participating in fairs, exhibitions and new product introduction and providing vocational training for workers (specific policies shall be applied for each stage).