Investment Support Policy in Vinh Phuc Province

Apart from general investment incentive and support policies stipulated by the State, Vinh Phuc province has its own support policies for investors, specifically:

 

1. Administrative procedures: Administrative procedures are made public of process, document components and forms, imposed under the singe-window mechanism by electronic software at http://motcua.ipavinhphuc.vn and handled under a one-stop single-window mechanism.  Investors only need to contact with the Vinh Phuc Investment Promotion Agency (IPA Vinh Phuc) to submit application forms and receive results and they will save a third of waiting time for the job.

 

- Investment certification examination procedure: The time is reduced from 25-30 days to 15 days (investors receive answers within 15 days dating from the date of submission).

 

- Investment certification: The time is shortened from 15 days to 10 days (investors the investment certificate within 10 days from the date of filing).

 

- Based on the Prime Minister’s Decision 12/2011/QD-TTg dated February 24, 2011 on development of some supporting industries, and the Decision 1483/QD-TTg dated August 26, 2011 promulgating the list of development-prioritised supporting industrial products, the Vinh Phuc Provincial People’s Committee issued the Decision No. 47/2012/QD-UBND dated September 14, 2012 stipulating supports for enterprises engaged in supporting industrial production  in industrial zones in Vinh Phuc province, with specific contents as follows:

 

+ Financial support for establishing documents for first granting and amendment of investment certificates. The funding value cannot exceed VND200 million, sourced from the provincial budget. Investors are also funded for incorporation announcement and product popularity.

 

+ Full financial support for environmental impact assessment reporting, land-use rights certification fees, construction permits, foreign hiring extension fees, and seal registration fees.

 

2. Employment priority and training funding, based on project characteristics. The personnel training fee is VND400,000 per person (as defined in Resolution No. 37/2011 / NQ-HDND dated December 19, 2011 of the Vinh Phuc Provincial People’s Council on a number of policies on career training support, job creation and poverty reduction from 2012 to 2015, the Decision No. 24/2012/QD-UBND dated July 30, 2012 of the Provincial People's Committee, and the Decision No. 19/2012/QD-UBND dated July 18, 2012 of the Provincial People’s Committee).

 

3. The province builds infrastructure systems, including roads, power supply systems, water supply systems and communication networks, etc. to the boundaries of industrial zones; and apply land-lease rates at the lowest level in the State frame to help enterprises to reduce production costs and improve product competitiveness;

 

4. The province supports infrastructure investors when they invest to build, operate and manage infrastructure in industrial parks as follows:

- Full financial support for environmental impact assessment reporting of infrastructure investment projects of industrial zones, mapping on a 1:500 scale, and bomb detection and clearance in industrial zones

 

- Technical support for following items within the boundaries of industrial zones: Waste collection system, wastewater treatment facilities. The fund is VND5 billion or less for industrial zones of less than 10 ha, VND7 billion or less for industrial zones of 10 - 20 ha, and VND10 billion or less for industrial zones of 20 - 75 ha.

 

- Production facilities inside industrial zones are supported VND700,000 for each worker trained (workers have not been trained before).

 

5. The province hands clean land spaces for priority projects, including education, vocational training, health, sporting, environment treatment, automobile, motorcycle and electronics parts.

 

6. The province coordinates with businesses to deal with difficulties and problems arising from the course of project establishment and manufacturing activities; receives feedbacks and proposals from enterprises, directs its subordinates to timely resolve difficulties and problems against enterprises by opening and maintaining active government-business dialogue portal, http://doithoaidoanhnghiep.gov.vn (Feedbacks must be answered within five days from the date of delivery.)

 

7. As for big projects, the province considers and decides investment incentives based on specific projects.