Vietnam Investment Incentives For Each Industry Group

Jan 19, 2022
According to Decree 31/2021/ND-CP, the Government of Vietnam stipulates that some industries and professions groups are eligible for investment incentives. This Decree offers many levels of investment incentives contributing to investment capital attraction in that field and promotion of the development of each industry group. The following article is about the information on Vietnam investment incentives for some industry groups that have been noticed in recent times.

1. Industrial zone investment incentives

Enjoy key benefits: Exemption of corporate income tax for certain period
 
Industrial estate or industrial zone is considered a potential spot for a breakthrough after the pandemic. Foreign investors are choosing Vietnam as a destination to set up production and processing factories. Because Vietnam has a great advantage in terms of human resources, the land bank for industrial zones is still large and the supporting infrastructure has been upgraded and completed. The state also offered many incentives to attract investors to industrial zones in recent times The incentive is shown in the exemption of corporate income tax for 2 years and a 50% reduction in the next 4 years, lower than the normal tax rate of 20%. If the business project is on the list of sectors eligible for Vietnam investment incentives, the tax exemption will be applied. Enterprises are also supported to carry out administrative procedures under the "one-stop" mechanism and support in recruiting and training employees.

Vietnam investment incentives for foreign investor in industrial zone
Investments in industrial zones receive the incentives from the government and developer

2. Vietnam investment incentives for medical businesses

Enjoy key benefits: CIT at 10% from  20% 
 
Facing the suddenness of the pandemic along with many other risks such as environmental pollution, food hygiene affecting people's health, the health care and medical fields are more focused than ever. Some industries eligible for investment incentives according to regulations are businesses for disease prevention and control, scientific research, research into preparation technology, biotechnology to produce new drugs and vaccines. In addition, business investment in care facilities for the elderly, disabled, and orphaned children also receive special incentives. For CIT, Foreign companies will receive CIT rate of 10%, tax exemption for 4 years, and 50% tax reduction for the next 5 to 9 years, depending on project location. In addition, Foreign investors are also offered a reduction or exemption from land rent fees for at least seven years
 

WHA Industrial Zone 1- Nghệ An
WHA Industrial Zone 1- Nghệ An - The world class industrial zone

WHA is the world class industrial estate developer in Thailand and Vietnam. WHA develops logistics and industrial zone utility solutions with its core capacity of international standard facilities. In addition, WHA industrial zone is located in a strategic location, which is the key economic region of the North Central region. WHA provides general services to industrial zone investors from the time they enter the market until they go into business. Thus, when investing in an industrial zone in Vietnam, investors not only receive Vietnam investment incentives from the government but also receive comprehensive support when cooperating with WHA.
 

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