Vietnam Grants Preferential Tax Rate to Japans Nidec
Japan&rsquos Nidec Corp., the world&rsquos biggest maker of motors for computer hard-disk drives, will pay a preferential tax rate in Vietnam of 10%, state media reported.
The Prime Minister has agreed to grant the preferential corporate income tax to the Japanese group&rsquos investment projects in the Saigon Hi-tech Park (SHTP) in Ho Chi Minh City.
These projects will enjoy the tax rate if they meet requirements on production of hi- products set by the Ministry of Science and Technology.
The Ministry of Finance is entrusted to work with the Ministry of Science and Technology and the Ministry of Planning and Investment to guide the implementation of investment projects of Nidec.
Vietnam&rsquos corporate tax is currently 28%.
During a visit to Ho Chi Minh City June 2-4, Tadaaki Hamada, CEO of Nidec, said Nidec will raise its investment in SHTP to $500 million by 2015.
Nidec has so far invested in three projects in the hi-tech park with total pledged investment capital of $100 million. Nidec factories are to produce computer parts, stationery, electric equipments and electronic components. (VNA, Thanh Nien Daily)
Vietnamese
