The Ministry of Planning and Investment has recently released the draft Decision to be issued by the Prime Minister governing the Special Investment Incentives ("Draft Decision") for seeking public comments.
The Draft Decision is to provide details for implementing the provisions of Article 20.2 of Investment Law No. 61/2020/QH14 ("Investment Law") and the Government's Decree No. 31/2021/ND-CP detailing and guiding the implementation of a number of provisions of the Investment Law ("Decree 31"). According to the Draft Decision, if this Draft Decision is ratified as is, it will take effect from the signing date.
Under Article 5 of the Draft Decision, eligible taxpayers will be entitled to one of the following Special Incentive Packages:
The Draft Decision introduces four additional criteria used to determine the specific Incentive Package applicable to the above-mentioned projects in investment-incentivized industries, including high technology, share of Vietnamese businesses participating in the value chain, added values and technology transfer.
During the period of entitlement to Special Incentive Packages, projects meeting the conditions applicable to any Incentive Package as prescribed in Article 5 of this Draft Decision will be entitled to such corresponding Incentive Package for the remaining period.
1 Approx. 130.43 million USD
2 Approx. 43.47 million USD
3 Approx. 1.3 billion USD
4 Approx. 434.78 million USD
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