Subjects eligible for incentives and investment Incentive levels in land-based investment projects in Vietnam

Tấn Đại

16:11, 20/09/2024

September 16, 2024, the Government of Vietnam issued Decree 115/2024/ND-CP guiding the Law on Bidding 2023 on the selection of investors for land-based investment projects, including regulations on the subjects eligible for incentives and investment Incentive levels in land-based investment projects in Vietnam

Subjects eligible for incentives and investment Incentive levels in land-based investment projects in Vietnam

According to Clause 1, Article 8 of Decree 115/2024/ND-CP, the subjects eligible for incentives and investment Incentive levels in land-based investment projects in Vietnam are as follows:

- Investors with solutions for the application of advanced technology, high technology, environmentally friendly technology, and the best available techniques to minimize environmental pollution for projects in the group at high risk of negatively impacting the environment, according to the provisions of law on environmental protection, are eligible for a 5% incentive when evaluating bids or proposals;

- Investors committed to transferring technology and performing high-tech activities for high technologies and high-tech products listed in the Category of High Technologies Prioritized for Investment and Development and the Category of High-Tech Products Encouraged for Development issued by the Prime Minister of the Government of Vietnam according to the provisions of high technology law or in the list of technologies encouraged for transfer according to the provisions of the law on technology transfer, are eligible for a 2% incentive when evaluating bids or proposals.

Note: According to Clause 2, Article 8 of Decree 115/2024/ND-CP, when participating in the bidding, investors must submit documents proving solutions for the application of advanced technology, high technology, environmentally friendly technology, best available techniques, lawful use rights of technology according to the provisions of high technology law, technology transfer law, environmental protection law, and other relevant laws to qualify for the incentives specified in Clause 1, Article 8 of Decree 115/2024/ND-CP.

More details can be found in Decree 115/2024/ND-CP, which comes into force in Vietnam from September 16, 2024.

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