Incentives given by Nam Dinh to investors

Incentives in land and water surface rents

-  Land and water surface rents during the construction under the project approved by a competent authority shall be exempted in the event the project has many items or independent construction periods, exemption of land rents shall be considered for each separate item or each independent construction period; in the event it is impossible to calculate each separate item or each independent construction period, the construction time shall be calculated in accordance with the item with the largest capital proportion.

-  Exemption of land and water surface rents shall start right from the date the construction is completed.and the project is put into operation, specifically:

• Three years for the projects in the List of investment encouragement, at the new production and business facilities of the economic organisation which moves out under the planning or due to environmental pollution.
• Seven years for the investment projects in the locality with difficult socio-economic conditions; projects in the List of special investment encouragement.
• Eleven years for the investment projects in the List of investment encouragement in the localities with socio-economic conditions.

Incentives in business income tax

(In accordance with the stipulations of the Vietnamese Government)

Other incentives

• The secondary investor in the industrial park which sends workers for further training or organises vocational training for the workers with permanent residence in Nam Dinh province, working at the enterprise shall be supported by the provincial budget for one single time at VND 1 million for each worker with vocational certificate issued by the training units, with training contract and labour contract for two years or more; with social and health insurance premiums already paid in accordance with the laws.
• Foreign investors which carry out investment project outside industrial parks shall be supported only once by the provincial budget when they send workers for further training in new technology and working permanently in the enterprise, with social and health insurance premium already paid in accordance with the laws (with contract, training certificate and approved project) with VND 700,000 for each person.
• These investors shall enjoy a 50% reduction of advertisement cost on Nam Dinh Newspaper and Nam Dinh Province Radio and Television Station in 2 years but this shall not exceed 50 times (if invested in the industrial park), or 40 times (if invested outside the industrial park) on each kind of mass media, from the first advertisement. Advertisement area on the newspaper shall not occupy more than 1/4 page. The length of time for each advertisement on the Radio and Television Station shall not longer than 2 minutes.
• Foreign investors shall enjoy clean water selling price, waste collection fee and other services fees as determined by the local authorities n the same way as other domestic enterprises.

(Source: The People’s Committee of Nam Dinh province)