Incentives and assistance provided to craft village industrial clusters in Vietnam

15:04, 27/05/2017

This is a new and outstanding content of Decree No. 68/2017/NĐ-CP of Vietnam’s Government on the management and development of industrial clusters.

Vietnam’s Government sets aside a chapter in Decree 68 to specify incentives and assistance provided to industrial clusters, especially craft village industrial clusters. To be specific:

- Investment incentives:

+ Projects on investment in production and business in a craft village industrial cluster shall be exempted from land rents for 11 years and may be eligible for state investment loans of up to 70% of the total investment capital;

+ Projects on investment in commercial operation of industrial cluster infrastructure shall be exempted from land rents for 15 years and may be eligible for state investment loans of up to 70% of the total investment capital.

- Investment assistance:

+ The local government budget shall cover funding for relocation of enterprises, cooperatives, cooperative associations, production establishments of households and individuals in a craft village to a craft village industrial cluster; the level of assistance shall be decided by the provincial People's Committee;

+ The central and local government budget shall consider giving priority to providing assistance in investment in construction of technical infrastructure of a craft village industrial cluster.

Decree No. 68/2017/NĐ-CP of Vietnam’s Government takes effect from July 15, 2017, annulling Decision No. 105/2009/QĐ-TTg dated August 19, 2009.

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