Investment in Dong Thap: Ideal Environment and Open Policies

9:54:11 AM | 27/9/2005

Simple administrative procedures
Enterprises which invest in Dong Thap will be able to rent land for 50 years and be able to extend their land rent for 20 more years if necessary. Procedures for domestic projects, relating to investment approaches, land rent contracts and land use right transfers, will be implemented in a ‘one door’ mechanism at the Dong Thap Trade and Investment Promotion Centre. The Dong Thap Department of Planning and Investment will grant business licences and investment priority certificates to foreign invested projects, also in a ‘one door’ mechanism. In particular, investors are exempted from all costs relating to procedures, apart from business registration fees as stipulated by the law.
Attractive priority policies
Investors will be exempted from land rent for five more years after their priority period terminates as stipulated. Investors whose projects are developed in industrial and handicraft complexes will receive a subsidy equal to between 20 and 30 per cent of site clearance compensation when they build infrastructure and establish their production workshops according to plans approved by authorised agencies. Also, production establishments in urban areas will receive a subsidy equal to 30 per cent of costs for their relocation, including costs for disassembly, transportation and assembly according to the results evaluated by authorised financial agencies.
In particular, Dong Thap will provide support equal to 50 per cent of vocational training costs according to approved projects via vocational training schools and centres. However, the support will not exceed VND 1 million per person. Furthermore, organisations and individuals, who help the province attract investors, will receive support worth between VND 20 billion to 120 billion for projects, capitalised from VND 5 billion to over 100 billion. The subsidy will be paid twice with 50 per cent paid when a project completes half of its construction work and the remainder when the project becomes operational. The payment will come from trade and investment promotion costs via the Dong Thap Trade and Investment Promotion Centre.
For further information, please contact:
Dong Thap Department of Planning and Investment
11 Vo Truong Toan, Cao Lanh town, Dong Thap province
Tel: 067.852733
Fax: 067.852955