Incentive policies for investment
Tien Giang Province welcomes all enterprises and individuals to invest in socioeconomic development in the Province. Provincial People's Committee commits to implement all the incentive policies of Vietnam's government for investment thoroughly and sustainably. If there are some changes in these policies, investors will be able to select the most beneficial ones.
Besides, for investment projects in the Province, People's Committee also carries out the following incentive policies:
+ Investors who build and lease infrastructure of the industrial zones and clusters is supported in:
- Being allocated land, or leasing land with usage fee and leasing fee promulgated by People's Committee at the time of allocation or lease.
- In case investors use their own capital for compensation, relocation, site clearance, resettlement support and infrastructure construction in industrial zones and clusters, they will receive support in conducting these activities by People's Committee of districts, My Tho City and Go Cong Town. Provincial People's Committee will consider supporting part of compensation and site clearance expense or part of the total investment in infrastructure of industrial zones and clusters.
- Based on actual conditions, Provincial People's Committee will allocate budget to support the investment in constructing infrastructure outside industrial zones and clusters.
+ For investment projects which are outside the industrial zones and clusters, but suitable for industrial development planning of the Province: depending on the project, Provincial People's Committee will provide support for constructing essential infrastructure (e.g. electricity, water supply and drainage and transportation, etc.) to the fence of enterprises. The maximum support does not exceed the total fee of land usage or land leasing which enterprises have to pay.
+ Supply of electricity and water and communication services: enterprises are timely provided with standardized electricity and water to their factory, and with the most convenient post and telecommunications services, which are available in the province.
+ Support for vocational training: newly-established enterprises having over 500 workers will receive support for the cost of vocational training provided for their workers whose residency is registered in Tien Giang Province within the first 2 years since obtaining investment certificate. The support is provided through vocational training schools.
The initial maximum support is not over 300,000 VND/person/month, but the total supporting amount is not over 1,000,000 VND/person.
+ Support for trade promotion: enterprises having good production and business will have a chance to participate in national trade promotion programs in the period of 2006 – 2010. The province will provide support of not over 50% of reasonable expense from promotion fund for enterprises attending domestic fairs and exhibitions.
For foreign fairs and exhibitions, enterprises will receive support of not over 50% of reasonable expense from promotion fund (under the approval of Provincial People's Committee).
+ Support for taking out loan and receiving post-investment interest rate: enterprises whose operation follows Law on Enterprises have new investment projects, expand their investment, upgrade their technology and are qualified to take out loan according to current regulation will be able to borrow medium-term and long-term loan (up to 70% of investment capital) with a preferential interest rate.
If small and medium enterprises do not borrow medium-term and long-term loans from Bank for Investment and Development of Vietnam – Tien Giang Branch but from other commercial banks, they will receive support in terms of post-investment interest rate from provincial Fund for Industrial Promotion.
+ Support in terms of land for constructing houses for expert and worker- enterprises whose investments are from US5 million can lease a plot of land in residential quarter for expert to construct houses for expert.
- Enterprises which want to build houses for their workers can lease land for constructing these houses. However, they must make plans which will be considered and decided by Provincial People's Committee according to their scale. Enterprises must guarantee to build houses following the approved plans.
+ Supporting enterprises for their participation in scientific and technological activities:
- Enterprises taking part in the supportive program for main product development of Tien Giang Province in the period of 2006 – 2010 will receive support in prescribed categories in the Decision No. 4284/QD-UBND dated November 15, 2006 of People's Committee of Tien Giang Province.
- Enterprises which register to participate in scientific and technological activities will receive support for their project implementation, product registration, technology appraisal, announcement of quality standard and standardized products, taking part in quality competitions and application of quality control system and models of productivity improvement, etc. according to the instruction of Department of Science and Technology.
- The incentive policies and support mentioned above will quickly be processed for investors. Based on actual situation, they will be adjusted through time in order to provide the best possible support for investors when they operate in Tien Giang Province.
|Incentive policies for investment 18/03/2016|