Strategic investors in Vietnam in Van Phong Economic Zone must advance compensation, support and resettlement funds to the State from August 1, 2022?
- What is the order and procedures for project implementation registration and strategic investor selection in Van Phong Economic Zone, Khanh Hoa province?
- What incentives will strategic investors in Vietnam in Van Phong Economic Zone enjoy?
- Do strategic investors in Vietnam in Van Phong economic zone have to advance funds for the State to compensate, support and resettle for land recovery projects?
What is the order and procedures for project implementation registration and strategic investor selection in Van Phong Economic Zone, Khanh Hoa province?
Pursuant to Clause 7, Article 7 of Resolution 55/2022/QH15 stipulates as follows:
“Article 7. Development of Van Phong Economic Zone
...
7. The order and procedures for registration of project implementation and selection of strategic investors for projects other than those specified in Clause 4, Article 29 of the Law on Investment are as follows:
a) Based on the decision approving the investment policy of the project specified in Clause 6 of this Article, the Management Board of Van Phong Economic Zone shall announce the project information, preliminary requirements on the investor's capacity and experience. investment and conditions for identification of strategic investors specified in Clauses 3 and 4 of this Article on the national bidding network system;
b) Based on the published information as prescribed at Point a of this Clause, the investor shall prepare and submit the application for registration of project implementation. An investor's application for project implementation registration includes: a written registration for project implementation; profile on the investor's legal status, capacity and experience; documents proving the satisfaction of conditions specified in Clauses 3 and 4 of this Article and other relevant documents (if any);
c) At the end of the project implementation registration deadline, the Van Phong Economic Zone Management Board shall organize a preliminary assessment of the capacity and experience of the investors who have submitted the application for project implementation registration. Based on the results of preliminary assessment of capacity and experience, the head of the Management Board of Van Phong Economic Zone shall decide to organize the implementation according to one of the cases specified at Points d, dd and e of this Clause;
d) In case there is only 1 registered investor and meets the preliminary requirements on capacity and experience or there are many registered investors but only 1 investor meets the preliminary requirements on capacity; , experience, the investor shall be approved in accordance with the provisions of the law on investment;
dd) In case there are 02 or more investors who meet the preliminary requirements on capacity and experience, only 01 investor is determined to meet the conditions for strategic investors specified in Clause 1 of this Article. 3 and 4 of this Article shall grant investor approval to such strategic investor in accordance with the provisions of the law on investment;
e) In case there are 02 or more investors who meet the preliminary requirements on capacity and experience, of which 02 or more investors are determined to meet the conditions for strategic investors as prescribed. in Clauses 3 and 4 of this Article, the competent state agency shall apply or choose to apply the law on bidding to organize the selection of an investor from among the investors determined to meet the conditions for the bidding process. strategic investors;
g) The Provincial People's Committee shall detail the form for disclosure of information on projects attracting strategic investors, including preliminary requirements on the investor's capacity and experience; application for registration of project implementation.”
According to the procedures for registration of project implementation and selection of strategic investors in Vietnam in Van Phong Economic Zone, Khanh Hoa province, it is done according to the above regulations.
Strategic investors in Vietnam in Van Phong Economic Zone must advance compensation, support and resettlement funds to the State from August 1, 2022? (Image from the internet)
What incentives will strategic investors in Vietnam in Van Phong Economic Zone enjoy?
Pursuant to Clause 8, Article 7 of Resolution 55/2022/QH15 stipulates as follows:
“Article 7. Development of Van Phong Economic Zone
...
8. Strategic investors are entitled to the following incentives:
a) Included in deductible expenses to determine taxable income for research and development (R&D) activities equal to 150% of the actual cost of this activity when calculating corporate income tax. Actual research and development (R&D) costs are determined according to the provisions of the law on accounting;
b) Enjoy the priority regime in terms of customs procedures in accordance with the law on customs and tax procedures in accordance with the law on tax for exported and imported goods of the investment project. strategic investors in Van Phong Economic Zone when meeting the conditions for applying the priority regime as prescribed by the law on customs and taxes, except for the conditions on export and import turnover."
Accordingly, strategic investors in Vietnam when implementing investment projects in Van Phong Economic Zone, Khanh Hoa province will enjoy the incentives according to the above regulations.
Do strategic investors in Vietnam in Van Phong economic zone have to advance funds for the State to compensate, support and resettle for land recovery projects?
Pursuant to Clause 9, Article 7 of Resolution 55/2022/QH15 stipulates as follows:
“Article 7. Development of Van Phong Economic Zone
...
9. Strategic investors have the following obligations:
a) Organize the project implementation according to the contents specified in the Investment Registration Certificate or the Decision approving the investment policy;
b) Advance funding to the State for compensation, support and resettlement for projects in case the State recovers land in accordance with the Land Law; advance funding of at least VND 200 billion to the State to implement a public investment project to build essential technical infrastructure in Van Phong Economic Zone within 1 year from the date the project is granted the Certificate. receive investment registration or decide on approval of investment policies for the projects specified at Points b, c and e, Clause 1 of this Article. The advance money is deducted from the land use levy and land rent of the investment project that the investor must pay. The deductible amount must not exceed the payable land use levy or land rent, the remaining amount (if any) shall be included in the project's investment capital;
c) Disburse funds within 5 years for the projects specified at Points b and c, Clause 1 of this Article, and within 3 years, for the remaining projects specified in Clause 1 of this Article, from the date of payment. from the date of issuance of the Investment Registration Certificate or the Decision approving the investment policy. During this time, strategic investors are not allowed to transfer the project;
d) Financial support for vocational training for affected workers in the project area; giving priority to receiving local laborers to work at the project; fulfill commitments on application and transfer of advanced, new and high-tech technologies (if any).”
Accordingly, strategic investors in Vietnam will have to fulfill the obligations as mentioned above when implementing investment projects in Van Phong Economic Zone, Khanh Hoa province in the near future.
Resolution 55/2022/QH15 will take effect from August 1, 2022.
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