The investment incentive policies of Vinh Phuc province
In addition to the general preferential policies prescribed by central Government regarding:
Corporate income tax;
Import and export tax;
Tax incentives for non-agricultural land use;
Incentives on land;
Projects in terms of socialization;
Investment projects in agriculture and rural areas.
Vinh Phuc province has issued several investment incentive policies including:
Resolution No. 60 dated July 19, 2012 of the Provincial People’s Council approved the administrative reform program of Vinh Phuc for the period 2012 – 2020;
Resolution No. 159/2014 dated December 22, 2014 of the Provincial People’s Council supported social housing project for workers and low-income people in Vinh Phuc in the period 2015-2020;
Resolution No. 207/2015 dated December 22, 2015 of the Provincial People’s Council and Decision No. 18/2016 dated March 31, 2016 of the Provincial People’s Committee regulated a number of mechanisms and policies to support vocational education and job creation in Vinh Phuc in the 2016-2020 period;
Resolution No. 45/2016 dated September 24, 2016 of the Provincial People’s Council supported households and individuals in the State zone where agricultural land had been recovered to build high-quality tourism and service urban areas;
Resolution No. 57/2016 dated December 12, 2016 of the Provincial People’s Council specified measures to attract investment and support business in Vinh Phuc;
Resolution No. 42/2018 dated December 18, 2018 amended and supplemented Article 1, Resolution No. 207/2015 dated December 22, 2015 of the Provincial People’s Council and Decision No. 18/2016 dated March 31, 2016 of the Provincial People’s Committee which regulated a number of mechanisms and policies to support vocational education and job creation in Vinh Phuc in the period 2016 – 2020;
Resolution No. 50/2018 dated December 18, 2018 of the Provincial People’s Council improved investment and development of industrial clusters in Vinh Phuc in the period 2019-2021;
Resolution No. 87/2019 dated December 11, 2019 of the People’s Council promulgated specific policies to encourage enterprises to invest in agriculture and rural areas in Vinh Phuc in the period 2020-2025.
The province issued a policy of handing over clean ground to priority, including: Education, Vocational training; Medican; Sport; Environment treatment;
The province always coordinates with enterprises to promptly remove difficulties and obstacles arising in the process of project formation as well as in production; Receiving feedback and recommendations from enterprises on Government-Business Dialogue Portal http://doithoaidoanhnghiep.vinhphuc.gov.vn
Regarding administrative procedures: the process, dossiers, forms would be resolved under the one-stop-shop mechanism at Vinh Phuc Provincial Public Administration Service Center. Investors submit documents and receive results at the Public Administration Service Center of Vinh Phuc province with the time reduced from one-third to half compared to the general provisions of Vietnam;
Investors can find information on socio-economic situation, projects calling for investment, and investment incentive policies through the website at: http://investvinhphuc.vn.
For large projects, depending on each specific project, the province may consider and decide appropriate investment incentive policies.