THANH HOA
AN ATTRACTIVE INVESTMENT DESTINATION
THANH HOA
AN ATTRACTIVE INVESTMENT DESTINATION
Menu
THANH HOA
AN ATTRACTIVE INVESTMENT DESTINATION
THANH HOA
AN ATTRACTIVE INVESTMENT DESTINATION
Projects located within the Nghi Son Economic Zone (except for industrial parks invested infrastructure) - Land rental and water surface rental: + Land and water surface rental exemption during the project's construction period, but not exceeding three years since the issuance date of the land and water surface lease decision. Land and water surface rental exemptions are from 11 to 15 years since the project is put into operation, depending on the project sectors. + Land and water surface rental exemptions during the construction period for specially incentivized and promoted projects specified by Government regulations.
- Corporate Income Tax (CIT)
A newly invested project will be granted a 10% CIT preferential rate for 15 years, then a 4-year CIT exemption, and a 50% reduction in the CIT amount in the 9 following years.
- Import-export tax incentives:
+ Import tax exemption on imported goods to establish fixed assets, specialized transportation means in the technology to be used for the project, and shuttle service for workers.
+ Import tax exemption for 5 years from the date the project starts operation, producing raw materials, supplies, accessories, and semi-products that are not yet locally produced or local products are not up to the required quality standard.
Projects located in industrial parks that are in Nghi Son Economic Zone
- Corporate Income Tax (CIT)
A new project will be granted a 10% CIT preferential rate for 15 years from the first year that company revenue is generated, then a 4-year CIT exemption and a 50% reduction in the CIT amount in the 9 following years.
- Import-export tax incentives:
Investment promotion and incentives will depend on invested sectors as follows:
+ Import tax exemption on imported goods to establish fixed assets, specialized transportation means in the technology used for the project, and shuttle service for workers.
+ Import tax exemption for 5 years from the date the project starts operation, producing raw materials, supplies, accessories, and semi-products that are not yet locally produced or local products are not yet up to the required quality standard.
Projects located outside Nghi Son Economic Zone:
- Corporate Income Tax (CIT)
2-year CIT exemption and 50% reduction in the CIT amount in the 4 following years.
- Import-export tax incentives:
Investment promotion and incentives will depend on invested sectors as follows:
+ Import tax exemption on imported goods to establish fixed assets, specialized transportation means in the technology used for the project, and shuttle service for workers.
+ Import tax exemption for 5 years from the date the project starts operation, producing raw materials, supplies, accessories, and semi-products that are not yet locally produced or local products are not yet up to the required quality standard.
Specially incentivized and promoted projects
It is specified in the government's Decision 29/2021/QD-TTg, dated October 6, 2021, stipulating special investment incentives.
Based on Resolution No. 58-NQ/TW dated August 5, 2020, of the Politburo, the National Assembly issued Resolution No. 37/2021/QH15, dated November 13, 2021, on piloting several unique mechanisms to boost the development of Thanh Hoa province. Accordingly, there are 08 specific policies for Thanh Hoa province, specifically as follows:
- Financial Policies
(1) Policy on loan balance
(2) The policy that allows putting aside up to 70% of the revenue increase from export and import activities through Nghi Son seaport;
(3) The budget of Thanh Hoa province is entitled to 50% of land use levies when selling public assets managed by agencies, organizations, and units under the Central Government in the province;
(4) Policies on fees;
(5)Thanh Hoa province is allocated 45% of expenditures according to population norms when developing regular state budget spending norms.
These policies give the province more room to mobilize and use resources for the development of socio-economic infrastructure and human resources to meet the requirements of rapid and sustainable development.
- Policies on decentralization and authorization:
(1) Policies to authorize decision to change the purpose of using land for cultivation of annual crops for over 02 crops with a scale of less than 500ha, special-use forest land, and protection forest land under 50ha;
(2) Policies to decentralize and authorize the change of purpose of using forests to other purposes;
(3) Policies to decentralize approvals of local adjustment of general planning for functional zones and urban general planning.
These policies will create an initiative for the province to organize implementation, shorten time, and simplify investment procedures related to land use and planning, promoting investment attraction to the province.
In addition to preferential mechanisms and policies of the government, Thanh Hoa province is currently applying several mechanisms and policies to support investors and enterprises to operate in production and business in the province by Provincial People's Council as follows:
(1) Policies to support solid waste treatment in Thanh Hoa province, period 2020 - 2025 (Resolution No. 236/2019/NQ-HDND dated December 12, 2019 of the Provincial People's Council).
(2) Mechanisms and policies to support the development of green thorns as raw materials in Thanh Hoa province, period 2021 - 2023 (Resolution No. 385/2021/NQ -HDND dated April 26, 2021, of the Provincial People's Council).
(3) Policies of socialization of preschool education in Thanh Hoa province to 2033 (Resolution No. 386/2021/NQ-HDND dated April 26, 2021 of the Provincial People's Council).
(4) Policies to encourage science and technology development to become a breakthrough in the socio-economic development of Thanh Hoa province, period 2021 - 2025 (Resolution No. 20/2021/NQ -HDND dated July 17, 2021, of the Provincial People's Council).
(5) Policies to encourage industrial and handicraft development in Thanh Hoa province, period 2022 - 2026 (Resolution No. 121/2021/NQ -HDND dated October 11, 2021, of the Provincial People's Council ).
(6) Policies on agricultural, rural, and farmer development in Thanh Hoa province, period 2022 - 2025 (Resolution No. 185/2021/NQ -HDND dated December 10, 2021, of the Provincial People's Council ).
(7) Policies to support business development in Thanh Hoa province, period 2022 - 2026 (Resolution No. 214/2022/NQ -HDND dated April 13, 2022 of the Provincial People's Council).
(8) Policies to support international and domestic marine vehicles; Supporting businesses to transport goods via containers through Nghi Son port, Thanh Hoa province (Resolution No. 248/2022/NQ-HDND dated July 13, 2022, of the provincial People's Council).
- Support shipping lines to open container transport routes internationally through Nghi Son port: VND 500 million /trip.
- Support domestic sea transport vehicles by containers through Nghi Son port: VND 300 million/trip.
- Policy to support businesses with goods transporting containers through Nghi Son port:
+ Containers opening declaration at Thanh Hoa Customs: 20-feet containers: VND 2,000,000/container; 40-feet containers: VND 3,000,000/container.
+ Containers not opening declaration at Thanh Hoa Customs: 20-feet containers: VND 700,000/container; 40-feet containers: VND 1,000,000/container.
(9) Some specific mechanisms and policies for the development of Sam Son City, Tho Xuan District, and Thanh Hoa City (Resolution No. 298/2022/NQ-HDND, Resolution No. 299/2022/NQ-HDND, and Resolution No. 303 /2022/NQ-HDND dated July 13, 2022, of the Provincial People's Council).
Implementation agency:
Investment, Trade and Tourism Promotion Center