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| Thua Thien Hue - potentialities and investment opportunities Thua Thien Hue is a province which has a favorable investment environment Thua Thien Hue is a province located in the key economic region of the
Investors who own projects of the following fields and areas are entitled to investment incentives: 1. Fields of preferential investment: 1.1. Projects of the fields of preferential investment:
2.1. Areas of especially difficult socio-economic conditions: Nam Dong and A Luoi Districts; 2.2. Areas of difficult socio-economic conditions: Phong Dien, Quang Dien, Huong Tra, Phu Loc and Phu Vang Districts and Industrial Zones; 2.3. Industrial and home craft industry clusters;sports, etc. Investment preferential policies 1. Land lease price: The land lease price unit in a year is counted as equal as 0.5% of land prices stipulated by the Provincial People’s Committee annually. As for some land areas where own specific conditions and for some careers, land prices are defined as follows:
2. Exemption of land and water surface lease: Investment projects of the provincial list of preferential investment fields and areas shall be exempted from land and water surface lease as stipulated in details at Article 14, Decree No. 142/2005/ND-CP dated November 14, 2005 of the Government. 3. Tax rate of corporate income tax: The tax rate of preferential corporate income tax and period applied for investment projects of the list of preferential investment fields and areas are stipulated in details at Article 34; Decree No.24/2007/ND-CP dated February 14, 2007 of the Government. 4. Exemption and reduction of corporate income tax: Investment projects of the list of preferential investment fields and areas of the province shall be exempted from corporate income tax as stipulated in details at Articles 35,36,37 and 39, Decree No.149/2005/ND-CP dated February 14, 2007 of the Government. 5. Exemption of export and import taxes: Free import tax shall be applied to goods to form fixed assets of the projects of the list of preferential investment fields and areas as defined at Decree No.149/2005/ND-CP dated December 8, 2005 of the Government Investment support policies 1. Providing assistance for infrastructure works: 1.1. For ensuring the building of infrastructures to the boundary of industrial zones, industrial and home craft clusters, tourist and urban areas: 1.2. For investment projects in areas outside Industrial Zones, due to the compulsiveness of projects or projects invested in Nam Dong, A Luoi, the provincial People’s Committee shall consider to assist . 2. Providing assistance for compensation and resettlement: The provincial People’s Committee shall direct districts and Hue City to coordinate with the relevant Departments, branches and sectors and investors to organize the compensation, surface clearance, land allocation and lease: 3. Support polices for displacing production establishments: Production establishments which cause air pollution or need to be moved due to master plans or need to be moved out of Hue City shall be entitled to preferential policies as follows: Assets on lands, Lands: 4. Technology transfer support: For projects of the specially encouraged investment fields which include the transfer of advanced, source technologies and those to create new products, improve production capacity and competitiveness, product quality, and utilize materials, fuel, energy, natural resources economically and effectively, the province shall support 20% of the technology transfer value, yet the support rate shall not exceed VND 2 billions per project. 5. Training expense support: Investors shall be assisted with vocational training expenses in domestic vocational training centers for workers who directly engage in production activities for the first time, specifically: 5.1. A maximum of 50% for preferential investment and especially preferential investment projects; 5.2. A maximum of 30% for the remaining ones. 6. Providing assistance for vocational training and technical training services and management skills: Production establishments which have the function of organizing vocational training, and training of technical and management skills shall be assisted with 30% expenses for training equipment once, yet this rate shall not exceed VND 5 billions. 7. Providing assistance for the application of management systems: Enterprises which establish and apply advanced quality management systems like ISO 9000, ISO 14.000, SA 8.000, HACCP, GMP, etc shall be assisted with 30% of Consulting and Certificate expenses being paid by themselves under contracts approved by competent agencies. 8. Providing assistance for trade promotion: Enterprises shall be assisted with travel cost for trade promotion to search new markets or introduce new products abroad, specifically: 8.1. Do not exceed VND 50 millions/turn/enterprise within two (2) years for projects of the list of especially preferential investment fields of the province. 8.2. Do not exceed VND 30 millions/turn/enterprise within two (2) years for projects of preferential investment fields of the province. Time-limit for the implementation of administrative formalities Since the date receiving all proper documents from investors, time-limit for the implementation of administrative procedures is as follow: Issuance of Business Registration Certificate + Issuance certificate for tax code registration + Issuance permit for seal engraving : less than 06 working days Issuance of investment incentives:
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