- Planting, processing clean, high-quality agricultural products (especially vegetables and fruits).
- Preserving, processing, consuming agricultural products (especially vegetables and fruits).
- The maximum land lease period to implement a project is 50 years. After the expriration of this period, extensions can be granted on request for investors who have complied with the Land Law and other regulations during project implementation.
- Enterprises shall be entitled to exemption of import tax on goods imported to create fixed assets, materials, equipment, devices to implement the projects.
- Exemption of land rental during capital construction period, but no longer than 3 years from the date of land lease decision. After the construction project has been completed and put into operation, projects that fall into the List of Investment Preferences by the Government shall be exempted from land rental for up to 3 years (11 years in case of investment on agriculture and rural areas)
- Enterprise income tax rate is 20%. Depending on the project properties, enterprises may be entitled to income tax exemption or reduction and other preferences.
- Exemption of land rental for the whole period in the following cases: construction projects on housing for workers in industrial parks, social housing; water supply projects; construction projects on service stations and parking for public transportation; socialized projects on education, training, healthcare, culture and environment in rural areas.
- Import tax preferences: Enterprises shall be entitled to exemption of import tax on goods imported to create fixed assets for the project, according to the Law on Import Tax and Export Tax no. 107/2016/QH13 dated April 6th, 2016.
+ Investors are entitled to exemption from land rental and water during the whole period for the land used for construction of infrastructure for common use in industrial parks;
+ Investors are entitled to exemption from land rental during capital construction period according to the approved projects, but no longer than 3 years starting from the date of land lease, water lease decision.
+ After the exemption period of capital construction, investors are entitled to 11 years of land rental exemption.
2. Investment preferences for projects that invest in production and business in industrial parks
General preferences:
- Enterprise income tax: Enterprises that implement new or extension projects are entitled to tax exemption for 2 years and a 50% reduction of payable tax amounts for 4 subsequent years;
- Import tax: Enterprises shall be entitled to exemption of import tax on goods imported to create fixed assets for the project, according to the Law on Import Tax and Export Tax no. 107/2016/QH13 dated April 6th, 2016.
- Enterprise income tax preferences by sector, field:
+ Enterprises are entitled to a tax rate of 10% within 15 years, tax exemption for 4 years and a 50% reduction of payable tax for the subsequent 9 years on income from projects that fall into the following domains:
+ New projects in high technology and high-tech applications; scientific research and technology development; software production; producing composit materials, light construction materials, rare materials; products that fall into the List of supporting industry products to be given priority for development.
+ New investment projects on manufacturing, not including projects on manufacturing products which are subject to special consumption tax (except for car manufacturing projects), which meet either of these 2 criteria:
* Projects with a minimum capital of 6,000 billion dongs, being disbursed in no more than 3 years from the first investment approval and yielding at least 10,000 billion dongs of revenues within 3 years from the first year of revenue generation.
* Projects with a minimum capital of 6000 billion dongs, being disbursed in no more than 3 years from the first investment approval and employing over 3,000 laborers on a regular basis within 3 years from the first year of revenue generation.
+ Investment projects on manufacturing, not including projects on manufacturing products which are subject to special consumption tax (except for car manufacturing projects), with a minimum capital of 12,000 billion dongs, total registered capital is disbursed within 5 years from the date of investment approval.
- Enterprises are entitled to a tax rate of 17%, tax exemption for 2 years and a 50% reduction of payable tax for the subsequent 4 years on income from projects that fall into the following domains: manufacturing energy-saving products; producing machines and equipment to serve agriculture, fishery and forestry.
IV. Investment supporting policies
- Supplying sufficient infrastructure system and essential services, including: transportation, electricity, water supply and drainage, telecommunication, waste water collection and treatment, ... to the fence of each factory. Standard warehouses are available for lease which satisgy different requirements of each project;
- Hung Yen implements “one-door” mechanism for administrative procedures. These are also implemented via the internet, which offers investors online public services level 3 in receiving and processing requests, ensuring to reduce processing period by 30%-50%. Besides, investors shall receive support and consultation from Services and Investment Support Centre during project implementation, business operation and procedures regarding investment, construction, environment protection and labor safety, ...;
- Supplying information on administrative procedures, layout plans, conditions on investment and other laws and regulations at the request of investors;
- Hung Yen applies online tax and custom procedures. Customs sealing is done with lead seals by Hung Yen Customs right at the factory. A system of major banks ensures fast service to promptly meet any request of investors. Electricity and high-speed internet are also supplied with high consistency to meet investors’ demand;
- Hung Yen encourages labor training and recruitment in order to provide adequate labor source of high quality, good discipline and professional manner for projects across the province;
- Enterprises reserve the right to invest in case of regulation modifications; security is ensured, lives and properties of laborers and investors within the province are protected.
- Local points of contact for investment support issues:
Hung Yen Provincial People’s Committee
Address: No. 10, Chua Chuong street, Hien Nam ward, Hung Yen city, Hung Yen province.
Tel.: 0321.3863823; 0321.3864436
Email: Hungyen@chinhphu.vn
Hung Yen Investment Promotion and Enterprise Support Centre
Address: No. 8, Chua Chuong street, Hien Nam ward, Hung Yen city, Hung Yen province
Tel.: 0321.3522668
Email: dpihungyen@gmail.com
Hung Yen Province Industrial Park Management Board
Address: Pho Noi, Ban Yen Nhan township, My Hao district, Hung Yen province.
Tel.: 0321.3942864
Email: bqlckcnhy@vnn.vn