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Improve conditions for foreign investors to enter Vietnam
Date: 8/3/2020 9:16:00 AM
The famous Czech diplomat David Jarkulisch recently published a review on the positive changes in the policy of the State of Vietnam as reflected in the amended Investment Law.

 According to the Vietnam News Agency correspondent in Prague, the famous Czech diplomat David Jarkulisch recently published a review of the positive changes in the policy of the State of Vietnam reflected in the amended Investment Law. , in order to facilitate the attraction and enhance the effectiveness of foreign investment in economic development.

The article was posted on the official website of the Czech Ministry of Foreign Affairs (mzv.cz), July 31.

The article stated that the National Assembly of Vietnam has approved the amended Investment Law expected to come into effect on January 1, 2021, thereby significantly improving conditions for foreign investors to enter Vietnam.

The main objective of the amendment of the law is to make the business environment in Vietnam more attractive to foreign investors and attract new sources of investment in the high-tech sector.

According to the author, Vietnam is one of the most attractive investment destinations in Asia, but so far most of the foreign investment in Vietnam has mainly focused on the areas of low-cost labor. low technology process.

Therefore, last year, the Vietnamese government decided to change its strategy to attract foreign investment to support the renovation of high-tech industries and industries.

An important element of this strategy is the change in conditions of investment incentives defined within the Investment Law.

New incentives for investment in selected high-tech industries include: exemption of corporate income tax, reduction of state-owned rent in industrial parks and a range of other incentives.

Under the new investment law, investors will receive special treatment when they commit to invest in Vietnam at least US $ 1.3 billion and after 3 years from the date of receiving the investment license to achieve a turnover of 434 million USD or employ at least 3,000 workers.

The Vietnamese government emphasizes that the majority of incentives and changes in investment laws reflect the needs of large multinational companies , which have long sought to enter the Vietnamese market .

Therefore, the Government of Vietnam has adjusted the law to suit the reality to make Vietnam more attractive to the world’s largest economies.

The article emphasized that despite coping with the negative consequences of the COVID-19 acute respiratory tract epidemic , Vietnam did not lose its attractiveness to foreign investors and in May 7. In 2020, there have been a total of 18.8 billion USD of foreign investment in Vietnam, only a decrease of about 7% compared to the same period last year.

 

(Source:VietnamPlus)
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