Vietnam Pledges Incentives for ODA Foreign Experts
The government of Vietnam will give incentives to foreign experts working in ODA projects in the Southeast Asian country, according to the Decision No. 119/2009/QD-TTg signed by PM Nguyen Tan Dung on October 1.
Under the decision, these experts and their relatives are allowed to bring foreign currencies into Vietnam and exchange incomes from working for ODA projects and other legitimate incomes into foreign currencies and take it out of the country.
They are also exempt from personal income tax while working on ODA projects.
Other incentives include easier applications for visas, residence and vehicle registration, application for driver’s license and changing driver’s license, among others.
The decision will take effect from November 20, 2009 and replace Decision No. 211/1998/QD-TTg dated October 31, 1998.
Vietnam disbursed US$1.7 billion in official development assistance (ODA) capital in the first nine months this year, meeting 90% of the whole-year target.
In ODA-funded education and technical consultancy projects, payments for foreign experts often account for 90% of the project value. (Vietnam Economic Times)
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