Vinh Phuc Offers Many Attractive Investment Support Policies

10:40:20 AM | 2/1/2020

In order to communicate investment support policies of Vinh Phuc province, on December 18, Vinh Phuc Industrial Parks Authority organized a conference to propagate and popularize investment support policies of the province.

Over the past years, Vinh Phuc has carried out programs to support and remove difficulties and obstacles, paving the way for sustainable development of enterprises. In addition to the general investment incentive policies in accordance with State regulations, Vinh Phuc has also offered specific investment incentives: Supporting expenses for document preparation, location introduction, and detailed planning of projects in the fields of investment encouragement of the province; Supporting expenses for preparing direct investment project proposal in the field of investment encouragement in the province. Accordingly, Vinh Phuc supports VND350 million for projects with a total investment of VND2,300 billion or more, supports VND100 - VND350 million for projects with a total investment of VND800 billion - VND2,300 billion; provides infrastructure rental support for sub-investors who sublease land in industrial parks invested with off-budget capital. Accordingly, the province supports 10% of rent fee in industrial park infrastructure (excluding VAT) for new investment projects and 12% of rent fee in industrial park infrastructure (without VAT) for expanded investment projects, maximum not exceeding VND5 billion / 01 project.

In addition, the province also supports enterprises engaged in supporting industry on the list of development priorities in the province; assists enterprises in training and attracting high-quality human resources; supports advertising expenses on the provincial mass media for projects in the field of investment encouragement in the period 2017-2025. At the same time, investors are provided the best conditions and complete information. They will have favorable conditions to implement investment procedures in the shortest time in the industrial parks, through the "one-stop shop” of the Provincial People's Committee. The goal is that by 2020, administrative procedures will be substantially reformed, reducing settlement time by at least 40% compared to the regulations. The level of satisfaction of the people and businesses on administrative procedures is from 81-85% or more.

Vinh Phuc determines that the success and prosperity of the investors in Vinh Phuc is the prosperous development of the province. Therefore, Vinh Phuc is always committed to giving investors the most favorable conditions, the most preferential mechanisms.

Nguyet Tham (Vietnam Business Forum)