INVESTMENT INCENTIVES IN DA NANG

1. Investment forms

– Establishment of economic organizations (details).

– Contributing capital, buying shares, capital contribution to economic organizations (details).

– BCC contract (details).

– PPP contract (details).

2. Business investment industry

Investors are entitled to conduct business investment activities in industries and trades that are not prohibited by the Law on Investment 2014.

Businesses banned from business investment are stipulated in Article 6 of the Law on Investment 2014 (details)

In addition, the 2014 Investment Law stipulates that the List of 267 business lines has conditions for domestic investors and foreign investors (details).

Foreign investors are not only regulated by Vietnamese laws but also subject to bilateral and multilateral agreements that Vietnam has signed with other countries and territories to create. convenient for investors when entering the market, the Ministry of Planning and Investment has publicly announced the list of investment conditions that foreign investors must meet when making business investment in Vietnam (details)

3. Duration of investment projects

– An investment project implemented outside Danang industrial parks and hi-tech parks:

  Not more than 50 years.

– Investment projects implemented in Hoang Sa and KCNC districts of Da Nang or projects with large investment capital but slow capital recovery:

  Longer term but not more than 70 years.

4. Investment incentives

Investment incentives are applied to new investment projects and expanded investment projects. Specific incentives for each type of investment incentives are applied in accordance with tax laws and land legislation.

Subjects entitled to investment incentives include:

4.1. Investment projects in investment preferential industries or special investment incentive industries (details)

4.2. Investment projects in industrial parks, high-tech zones and Hoang Sa island district

4.3. Investment projects with a capital of VND 6,000 billion or more, disbursing at least VND 6,000 billion within 3 years from the date of issuance of the investment license or from the date of deciding investment policies for the project. do not have to carry out procedures for issuance of Investment Registration Certificates

4.4. Investment projects in rural areas employing 500 or more workers (not including full-time employees and laborers with labor contracts of less than 12 months)

4.5. High-tech enterprises, science and technology enterprises, scientific and technological organizations under the provisions of high technology and law on science and technology

5. Make deposits to secure the implementation of investment projects

The 2014 Investment Law stipulates that investors must make deposits to ensure the implementation of projects allocated or leased land by the State, allowing the conversion of land use purposes.

The deposit shall be made after the investment project is decided on the investment policy but must be before the time of land allocation, land lease and permission to change the land use purpose; For investment projects not subject to investment policy decisions, the time of deposit is the time of land allocation, land lease and permission to change land use purposes.

Detailed instructions for making a deposit

6. The competent authority receives the application file and grants the Investment Registration Certificate

– For foreign-invested projects implemented outside the Industrial Park; investment projects implemented simultaneously in and outside industrial parks and hi-tech parks: Da Nang Department of Planning and Investment.

– For foreign-invested projects implemented in industrial parks: Da Nang Export Processing and Industrial Zones Authority.

– For foreign-invested projects implemented in high-tech parks: Da Nang Hi-tech Park Management Board.

7. Reporting regime of economic organizations implementing investment projects

– Monthly report: in case an investment project has an investment capital made in a month, the economic organization reports within 12 days from the end of the reporting month (according to Table 1).

– Quarterly report: made before the 12th of the first month of the quarter after the reporting quarter (according to Table 2)

– Annual report: before March 31 of the following year of the reporting year (according to Table 3)

8. Language used in investment registration documents

– Dossiers of investment registration, documents and reports to competent state agencies are made in Vietnamese.

– In case of having documents in a foreign language, there must be a valid Vietnamese translation with documents in a foreign language.

– Investors are responsible in case of differences between the translation or the copy with the original and in the case of differences between the Vietnamese version and the foreign language version.

For more detaisl, please contact Hnlaw & Partners Law Firm

Email: tuvan.hnlaw@gmail.com

https://hnlaw.vn/investment-consultancy

http://www.mpi.gov.vn/en/Pages/default.aspx