Europe Clean Energies Japan K.K will receive numerous incentives during the construction process of the Truc Son solar power project located in Cu Jut district of the Central Highlands province of Dak Nong. The province has promised a list of incentives, including tax obligations and land rental fees The Dak Nong People’s Committee has approved in principle the Truc Son solar power project invested by a joint venture between Europe Clean Energies Japan K.K and Thanh Nien Media Corporation. According to the plan, the project will cover an area of 50.77 hectares and have the total investment capital of VND1.1 trillion ($48.3 million). The investor will accelerate efforts to complete the administrative procedures for the investment certificate to implement the project as soon as possible. The project is expected to come into operation in June next year with the capacity of 67MWh per year and operate for 50 years. During the construction phase, the investor will enjoy … [Read more...] about Dak Nong promises great incentives for solar power project
Incentives
Living organ donors need more incentives
VietNamNet Bridge – In Vietnam, more than 16,000 people nationwide suffering from heart, liver, kidney and lung failure are in need of transplants. Some 6,000 people suffer from cornea-related problems and are waiting for replacements, according to Viet Nam National Coordinating Centre for Human Organ Transplantation. The number of people waiting for organs and tissues has soared. Yet, while demand keeps growing, there remains a shortage of supply. More than 13,000 people in Vietnam registered for organ and tissue donation while still alive or after they are dead or brain dead. However, this number is low, given the current population of over 90 million. In a country where organ and tissue donation is regarded as a relatively new concept, incentives play a humble role in encouraging people to take action. Dang Thi Khanh, from northern Bac Ninh Province, needed a kidney transplant seven years ago. Both of her parents said they were ready to donate their organs to save their … [Read more...] about Living organ donors need more incentives
Japan’s tax incentive for raising wages may have limited appeal
TOKYO -- On the surface, it looks like an attractive deal: Raise your workers’ pay by 3 percent and your company qualifies for a substantial tax bre But a closer look suggests that Japanese Prime Minister Shinzo Abe’s policy actually raises the bar for companies to get tax breaks to 3 percent wage increases from 2 percent - and as a result it will likely fail to drive up compensation. Most businesses are simply unwilling to hike wages that much, wary of committing to driving up ongoing costs for a temporary, three-year tax break. Even officials at the Ministry of Finance are skeptical. It only expects one fifth of large profitable companies will take advantage of the offer, which slashes the official corporate tax rate from 30 percent to 25 percent, a ministry official told Reuters. He declined to be identified because he is not authorized to talk to the press. Under the new scheme, the finance ministry estimates it will lose 161 billion yen ($1.51 billion) in corporate … [Read more...] about Japan’s tax incentive for raising wages may have limited appeal
Govt pledges more incentives for FDI, wants economic connectivity
Govt pledges more incentives for FDI, wants economic connectivityVan Ly HANOI – The Government will create favorable conditions to attract more foreign direct investment (FDI), and urged foreign-invested enterprises to connect themselves with domestic enterprises to better create value chains in the process of international integration, heard the Vietnam Business Forum (VBF) 2017 on Friday. Deputy Prime Minister Vuong Dinh Hue said at the forum that the Government will offer more incentives to investors, but priorities will be given to those FDI enterprises with concrete schemes to set up links with domestic partners. The Government wants to forge stronger connectivity between domestic and foreign enterprises to help them develop and join global value chains, he said. “FDI enterprises play a vital part in the Vietnam’s economy and their successes are the country’s successes,” said Hue. According to the Deputy PM, Vietnam will promote FDI but … [Read more...] about Govt pledges more incentives for FDI, wants economic connectivity
Incentives for investors abound at Saigon Silicon City
Incentives for investors abound at Saigon Silicon CityVan Nam By Van Nam - The Saigon Times Daily HCMC – The government of HCMC has given the go-ahead to the Saigon Hi-Tech Park (SHTP) authority to offer the highest incentives possible for overseas Vietnamese investors to get involved in Saigon Silicon City project within the park. Speaking to the Daily on April 8, Le Thanh Dai, deputy head of the authority, said the city would set aside 50 hectares at SHTP in District 9 for the Saigon Silicon City project. Overseas Vietnamese investors will be awarded maximum incentives in accordance with the nation’s existing investment regulations for technological research and development projects. The SHTP has got the green light from the city government to develop the Saigon Silicon City. During the implementation process, the city will ask the central Government for approval to give out incentives beyond the authority of HCMC. SHTP has attracted 68 projects worth a total … [Read more...] about Incentives for investors abound at Saigon Silicon City
Ministry demands multiple incentives for N-S Expressway
Ministry demands multiple incentives for N-S ExpresswayTu Hoang HANOI – The Ministry of Transport has proposed a slew of incentive mechanisms for the North-South Expressway project. First, the ministry suggests that the Government instruct the State Bank of Vietnam to come up with effective solutions to allow the big-ticket project’s investors to access bank loans, especially those from the Asia Infrastructure Investment Bank. Second, the ministry wants that only a preliminary environmental impact assessment is needed in the project’s pre-feasibility study. Besides, it asks the Government’s approval to raise toll fees in the project’s feasibility study and contract. Third, the ministry wants to have the right to stipulate the process of owner’s capital mobilization in line with the progress of the project’s implementation, and to apply various types of investment formats and contracts within the project that is divided into multiple component … [Read more...] about Ministry demands multiple incentives for N-S Expressway
Conference to talk cybersecurity facts, incentives
A conference themed “Cybersecurity 4.0: Facts and Incentives” is going to take place in Hanoi on January 18. (Source: VNA) Hanoi (VNA) – A conference themed “Cybersecurity 4.0: Facts and Incentives” is going to take place in Hanoi on January 18 to provide the latest facts about information safety in the world and Vietnam. It will feature three panel discussions on risks posed by the boom of Internet of Things (IoT) to information safety and solutions to Vietnam, the establishment and operation of a security operations centre, and the world’s cybersecurity situation in 2018. At the conference, experts are set to give an insight into the development and application of IoT in the world and Vietnam, risks to information safety, and experience in ensuring information security. They will also provide recommendations on information safety. Following the event, a forum will gather world-class computer security expert Mikko Hypponen and specialists … [Read more...] about Conference to talk cybersecurity facts, incentives
Incentives for Da Nang high-tech zone
They include free land lease for new companies, an interest rate of 10% for businesses with investment capital of over 132 million USD, and corporate income tax exemption in 4 years. Phung Tan Viet, Head of the Da Nang high-tech zone management board, said it has invested 53 million USD in building the infrastructure and attracted 8 projects worth 200 million USD. “To compete with other major cities and provinces and develop into a driver of the central region, Da Nang needs to promote high-tech zones. The city’s Party Committee has issued a resolution to turn it into a high-tech urban area. It’s an important milestone in local economic restructuring.”The new incentives also stipulate that Vietnamese expats and foreigners working in Da Nang high-tech zone and their family members will be given multiple entry visas. … [Read more...] about Incentives for Da Nang high-tech zone
Tax incentives proposed to support small and micro firms
The Hanoitimes - Corporate income tax applied for micro and small firms will be cut from the current 20 percent to 15 and 17 percent, respectively, aimed at supporting such firms. It was under a Ministry of Finance’s draft Law on Amendments and Supplements to a Number of Articles of the 5 Tax Laws, including the Corporate Income Tax Law, sent to the Government recently. The ministry classified that micro firms are those having total turnover of below VND3 billion (US$132,160) a year while small firms are those having below 200 employees with social insurance and total turnover of VND3-50 billion a year. Micro firms are those having total turnover of below VND3 billion (US$132,160) a year In a move to avoid firms setting up subsidiaries to benefit from the tax relief policy, the ministry also drafted that the preferential tax rates will not be applicable for firms under the parent-subsidiary structure in which the parent firms hold more than 25 per cent of … [Read more...] about Tax incentives proposed to support small and micro firms
New circular puts ASEAN incentives in SMEs’ reach
The Ministry of Industry and Trade (MoIT) recently issued Circular No.27/2017/TT-BCT, which supplements and amends some items of Circular No.28/2015/TT-BCT, dated August 20, 2015 on the pilot implementation of goods-origin self-certification as per the ASEAN Trade in Goods Agreement (ATIGA), valid for four ASEAN markets, including Laos, the Philippines, Indonesia, and Thailand.Self-certification of product origin (C/O) means traders may declare the origins of exported goods on their commercial invoice instead of C/O form D. As it currently stands, many businesses have to ask for C/O from management agencies.Under Circular 28, an enterprise is allowed to conduct self-certification of goods origin if its total export turnover to ASEAN comes to at least $10 million, under C/O form D in the preceding year.However, Circular 27, taking effect on December 6, 2017, removes this regulation, stating that a firm will be eligible to conduct product-origin self-certification if it is a small- or … [Read more...] about New circular puts ASEAN incentives in SMEs’ reach