Investors are always interested in areas which government
incentivize for investment in Vietnam, to enjoy benefits i.e. tax reduction,
tax exemption, land usage…which give them some help to grow the business in
areas which are not economically potential without the help from the government
when setting up company in Vietnam.
According to the regulations on business investment in Vietnam in
Decree No.118/2015/ND-CP, investment projects eligible for investment
incentives are entitled to tax and land policies in their performance.
Accordingly, for businesses that invest in industries or areas enjoying
investment incentives, there will be many advantages related to tax and using
land when performance business.
According to the provisions of Appendix I, Decree
No.118/2015/ND-CP, the fields are preferentially invested in many fields such as
science and technology, electronics, mechanics, material production, and
information technology, agriculture, environmental protection, infrastructure
construction, education, culture, sports, health activities of People’s Credit
Funds and microfinance institutions are specified in Appendix I Decree no.
118/2015/ND-CP.
However, with the continuous development of the economy, along
with the development projects of many small and medium-sized enterprises,
besides start-up projects, it is more suitable to the market economy and
start-up situation of many investors, on March 30th 2020, the
Government has issued Decree No.37/2020/ND-CP supplementing the list of
preferential investment industries which will take effect from May 15th,
2020.
According to the provisions of Decree No. 37/2020/ND-CP, for
business investment activities in accordance with the Law on Support for Small
and Medium Enterprises with the following business lines which will be added to
the list of industries to enjoy incentives for investment in Vietnam, including
business investment in the product distribution chain of small and medium-sized
enterprises, business investment in incubation facilities for small and
medium-sized enterprises, business investment in technical facilities supporting
small and medium-sized businesses, investing in a common working area for small
and medium-sized start-ups.
The investors who invest in Vietnam in the business lines above in
supporting industries for small and medium-sized enterprises from May 15, 2020,
will be entitled to specific tax and land incentives specifically as required
by law. Domestic and foreign investors could utilize the opportunity to make
investment to enjoy the incentives in Vietnam when conducting businesses.
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