Investors may receive support with the considerable value when satisfying some certain requirements of each local area.
Details on the level of investment support will depend on the provincial People Committee’s decision.
Article 19 of Law on Investment 2014
Local budget will be balanced to support construction of infrastructure inside and outside of industrial zones, export-processing zones.
In addition, if industrial zones, export-processing zones are located in areas with difficult socio-economic conditions or with specially difficult socio-economic conditions, they will have further supports from the central budget.
Article 18, 20 of Decree 118/2015/NĐ-CP
The state budget will be arranged for support in:
Article 19 of Decree 118/2015/NĐ-CP
Policies for housing development in high tech zones shall be approved by Prime Minister.
Employees work in the areas in industrial zones, high tech zones, economic zones formulated by the provincial People’s Committees for development of residential housing, service facilities and public utilities.
If it is unable to arrange a land fund, the competent authorities will adjust the master plan in industrial zones to reserve part of the land area for development of residential housing, service facilities, public utilities for employees.
Article 21 of Law on Investment 2014
In addition to the above support, small and medium-sized enterprises will have other incentives, including:
Household business, startups, joining business clusters and value chains in conversion to small and medium-sized enterprises will be received other support.
What is an SME?
An SME is an enterprise having the annual average number of employees who participate in social insurance not greater than 200 and satisfy one of the following criteria:
Law on assistance for small and medium enterprises 2017
Investors must satisfy the conditions from local authorities to receive the above assistance.
Each local authority will provide different support respective to different request.
Due to the large value of support, it is required to perform several time-consuming legal procedures.
Engaging PLF in Start a business in Vietnam service, our client will be provided advice on specific support at each local area as well as procedures to receive such support.