Only accept big projects
National Assembly Chairman Vuong Dinh Hue has just signed and promulgated Resolution No. 55/2022/QH15 on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province. This resolution was passed by the 15th National Assembly, the 3rd session on June 16.
Notably, the Resolution unifies the list of priority industries and occupations to attract investment in Van Phong Economic Zone, including investment in building innovation centers, research and development (R&D) centers. Along with that, there are investment projects in information technology, research, production and high technology transfer in the fields of ocean, maritime, biotechnology, marine pharmaceuticals and marine ecology. The above projects must have an investment capital of 1,500 billion VND or more.
For the field of investment in construction and business of commercial and financial centers with an investment capital scale of VND 12,000 billion or more. Investment in construction and business of urban areas with a land area of 300ha or more or a population of 50,000 people or more; invest in the construction and business of hotels, resorts, high-class resorts and general entertainment with golf courses with an investment capital of VND 25,000 billion or more.
Particularly, investment projects in clean energy industry, processing industry, high-tech manufacturing, precision mechanics, oil and gas processing, electronics, health care service area with investment capital from 6,000 billion or more.
In addition, airport construction and business, investment in harbors, special port areas, logistics services, seaport logistics services, ports, harbor areas, general ports, specialized ports with an investment capital of VND 2,300 billion or more, belonging to a class I seaport.
For groups of investment in construction and infrastructure business of non-tariff zones with an investment capital of VND 6,000 billion or more.
Many constraints on the “eagle”
The resolution also stipulates that strategic investors must meet one of the following conditions to have a charter capital of VND 10,000 billion or more or have total assets of VND 25,000 billion or more when implementing an investment project. in accordance with regulations and have experience in investing in projects in the same field with a total investment capital of 10,000 billion VND or more.
For some other projects, strategic investors must have a charter capital of between VND 500 billion and VND 6,000 billion.
In particular, the strategic investor must have a written commitment to training and developing human resources, meeting the conditions for ensuring national defense, security and environmental protection in accordance with the provisions of Vietnamese law. .
Selected investors must advance funds to the State for compensation, support and resettlement for projects in which land is recovered by the State in accordance with the Land Law.
At the same time, the strategic investor shall make an advance payment of at least VND 200 billion to the State for the implementation of a public investment project to build essential technical infrastructure in Van Phong Economic Zone within one year from the date of issue. from the date the project is granted the Investment Registration Certificate or the Decision on approval of investment policies for the specified projects.
The advance money is deducted from the land use levy and land rent of the investment project that the investor must pay. The deducted amount does not exceed the payable land use levy or land rent, the remaining amount (if any) shall be invested in the project’s investment capital.
Although there are many constraints and regulations, strategic investors in Van Phong Economic Zone will enjoy a variety of incentives such as being included in deductible expenses to determine taxable income for research and development activities. development (R&D) 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.
At the same time, the “eagles” are also entitled to priority in customs procedures in accordance with the law on customs and tax procedures in accordance with the law on tax for imported and exported goods. of investment projects implemented by strategic investors in Van Phong Economic Zone . However, strategic investors must meet the conditions for applying the priority regime as prescribed by the law on customs and tax, except for the conditions on export and import turnover.
