LAND RENT EXEMPTION WITH AUXILIARY INDUSTRIAL PARKS
On May 22, 2018, the Government issues the Decree No. 82/2018/ND-CP on management of industrial parks and economic zones.
Accordingly, the provincial People’s Committee shall issue the decision on establishment of industrial parks and expanded industrial parks after competent authorities issue decision on approval of the industrial park construction planning; certificate of investment registration (or Decision on investment policy).
With regards to economic zones, the Prime Minister shall have authority to grant a decision on establishment or expansion of economic zones. Within duration of 45 business days of receipt of valid documentation, the Ministry of Planning and Investment makes a consolidated report and submit it to the Prime Minister to seek his decision on establishment or expansion of economic zones.
Industrial park, economic zone is deemed as an area given investment preferences or incentive policies which are applied to those present in the List of areas facing socio-economic difficulties as per laws on investment.
There are special incentive policies for auxiliary industrial parks. Specifically: Investment projects on development of infrastructure of auxiliary industrial parks shall be entitled to land rent exemption or reduction; priority to have access to investment loans given by the state; the Government’s guarantees for mobilization of foreign capital; be in the list of projects of national importance...
This Decree takes effect on July 10, 2018.This Circular takes effect on July 01, 2018.
