Phu Hoi IP in Lam Dong Province – A Prime Destination for Investors

3:26:20 PM | 8/7/2005

Phu Hoi IP in Lam Dong Province – A Prime Destination for Investors

Located in Preh Village, Duc Trong District, near the Da Nhim River, Phu Hoi Industrial Park (IP) is 4km from Lien Nghia Town, 35km from the Northeast of Da Lat City and 80km from the Southwest of Bao Loc Town. It is proving to be a promising destination for investors.

The 196.73-hectare IP, with modern equipment and infrastructure, is able to meet the demand for construction materials production, food and forest product processing, chemical and metallurgy industries, and tourism.

The provincial authorities are responsible for site clearance, compensation and construction of all necessary infrastructure and fences for enterprises’ projects inside the IP. The expenses for all of these will be deducted to the sum that an enterprise must pay annually as regulated upon operating in the IP, if it pays in advance for some of the costs of the construction. Investment projects in the IP will also enjoy a 30-50 per cent reduction in land rent from seven to ten years since the project comes into operation and an additional 15-30 per cent from five to seven years after the beneficiary time of the favourable policies end. Foreign-invested enterprises and joint ventures will be exempted from import tax on production materials in the first five years and VAT on the production line that cannot be manufactured domestically.

Local and foreign investors will also receive 30% in financial assistance on organising vocational training courses for ordinary labourers and 50% for labours ranked from the second level upwards. Projects and establishments that move from residential areas into the IP will be given similar incentives and also exempted from an additional two and five years of corporate income tax (CIT) and land rent, respectively, from the end of the exemption period as regulated.

Phu Hoi IP will open for investors in 2005. Enterprises can contact directly the Management Board of Phu Hoi IP or the Management Board of IPs of Lam Dong Province for further information.

  • Hong Le