After 20 years of establishment, Vinh Phuc province has a very strong business force in terms of quantity, scale, structure and quality. The province had 91 enterprises with a combined registered capital of VND57 billion in 1997 and 7,394 companies with a registered capital of VND55.9 trillion in 2016 (an increase of 981 folds). In investment attraction orientation, to meet its socioeconomic development objectives, the province must mobilise all available investment resources for development, especially business development. Therefore, Vinh Phuc has many incentive policies to support and encourage investors and enterprises when they carry out investment projects in the locality.
The province places priority on labour supply and worker training support for specific project (based on Resolution 207/2015/NQ-HDND dated December 22, 2015 and Decision 18/2016/QD-UBND dated March 31, 2016).
The province has built infrastructure systems, including roads, power supply, water supply and communication systems, to fences of industrial zones and applied the lowest land rents in the regulatory framework provided by the State in a bid to lower production costs and improve product competitiveness for enterprises.
When investing, building and operating industrial infrastructure in the province, infrastructure investors will receive the following supports (based on Resolution 12/2010/NQ-HDND dated July 22, 2010 of the Provincial People’s Council and Decision 28/2010/QD-UBND dated October 4, 2010 of the Provincial People’s Committee):
- Supporting 100 per cent of expenses: Establishing environmental impact assessment report on infrastructure investment projects in industrial parks; establishing industrial zone plan on the 1-to-500 scale, carrying out unexploded ordnance (UXO) clearance.
- Supporting technical infrastructure inside the fence: Standard waste collection and wastewater treatment systems. Industrial zones of less than 10 ha: Not more than VND5 billion. Industrial zones of 10-20 ha: Not more than VND7 billion. Industrial zones of less than 20-75 ha: Not more than VND10 billion.
- Companies in industrial zones will be receive a training fee of VND700,000 per worker (applied to people who are not trained with provincial financial support).
The province will transfer cleared land for encouraged investment projects in such fields as education - training, vocational training, health, sports and environmental treatment.
The province will collaborate with businesses to timely tackle difficulties arising from the process of project establishment and production/business of enterprises; receive recommendations and give directions to tackle difficulties of enterprises from the establishment and operation of the business - government dialogue information portal at http://doithoaidoanhnghiep.vinhphuc.gov.vn (all questions will be answered within five working days.)
With respect to administrative procedures: Processes, documents, forms and records are published and supervised at the single-window electronic portal http://motcua.ipavinhphuc.vnand all procedures are addressed according to the single-window mechanism. Investors only need to contact with Vinh Phuc Investment Promotion Agency (IPA Vinh Phuc) to apply and receive results of investment administrative procedure settlement. The service time equals a third of regulatory time provided by the Government of Vietnam.
Investors can find information on socioeconomic situation, investment incentives and investment attraction projects at IPA Vinh Phuc’s www.ipavinhphuc.vn, which is displayed in five languages: Vietnamese, English, Japanese, Chinese and Korean.
Big projects will be considered and given specific incentives.
For more information, please contact the Vinh Phuc Investment Promotion Agency (IPA Vinh Phuc).
Address: No. 38-40 Nguyen Trai Street, Vinh Yen City, Vinh Phuc Province.
Telephone: 0211 3 616 618
Email: ipa@ipavinhphuc.vn
Website: www.ipavinhphuc.vn
Vietnamese
