More Incentives for Japanese Investors

11:12:20 AM | 7/10/2020

On September 9, 2020, the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade hosted an online trade workshop “Connecting Vietnam - Japan investment”. The workshop was cooperated by the Vietnam Trade Office in Japan, the ASEAN - Japan Center (AJC) and the Japan External Trade Organization (JETRO) in Hanoi. Typical attendants were from the Ministry of Industry and Trade, the Vinh Phuc Provincial People’s Committee, Quang Ninh and Nghe An provinces.

Mr. Pham Quang Thang, Deputy Director of the Vinh Phuc Department of Planning and Investment, introduced local potential advantages, support policies and commitments of Vinh Phuc province. Accordingly, in addition to applying highest incentives in the regulatory framework set by the Government of Vietnam on land rent and tax exemption and reduction for machinery and equipment import and export duties, Vinh Phuc province has some other support policies such as supporting documentation costs and location recommendation procedures; supporting enterprises to make industrial components on the list of priority development. Besides, Vinh Phuc is committed to providing investors with stable electricity around the clock, ensuring infrastructure and providing essential services to their project locations; making public and transparent investment processes and procedures; and implementing customs procedures and electronic tax payment quickly.

In the coming years, Vinh Phuc will give priority to investment projects using advanced eco-friendly technologies, engaged in industrial park infrastructure, automobile and motorcycle engineering, electrical and electronic equipment, supporting industries for electricity and electronics; banking - finance, tourism, trade, service, urban development, high-tech agriculture and agricultural processing.

By Nguyet Tham, Vietnam Business Forum