(VEN) – Thai Nguyen Province has issued a preferential investment decision for the Samsung Thai Nguyen Hi-tech Complex project. In addition to common preferential treatments for a hi-tech projects, the Samsung Thai Nguyen Hi-tech Complex will enjoy even more preferential treatments regarding site clearance and financial aid for infrastructure rents.
Under the decision, aside from general preferential treatments for a hi-tech complex such as Corporate Income Tax exemptions for the first four years and a 50 percent reduction for the next nine years, the provincial people’s committee issued Decision 08/2013/QD-UBND specifying that it would extend the 50 percent tax reduction of the Corporate Income Tax for an additional three years for the Samsung Electronics Vietnam Co .Ltd in Thai Nguyen Province (SEVT) project after other preferential treatments expire.
Apart from preferential tax treatment, SEVT and other projects inside the Samsung Hi-tech Complex will also be provided with financial aid for infrastructure rents. Thai Nguyen Province will support 50 percent of infrastructure rents for the Samsung Thai Nguyen Hi-tech Complex, including SEVT projects, a project on manufacturing microchips and microprocessors for Samsung Electro-Mechanics Co. Ltd and two other Samsung Group subsidiary company projects in Yen Binh Industrial Park (Bac Ninh Province) with a total maximum area of 100 ha.
However, the decision also specified that investors could only enjoy preferential investment treatments when they follow the criteria for hi-tech enterprises, especially those on research and development (R&D), technology, quality and environment management systems. Hi-tech projects must meet these requirements in terms of committed total investment capital and pace of implementation.
Regarding site clearance operation for the Samsung Thai Nguyen Hi-tech Complex, on June 13, the provincial people’s committee released Communiqué 65/TB-UBND, helping investors accelerate the progress of projects. Thai Nguyen Province will help raise people’s awareness on the importance and benefits brought by the hi-tech complex. As for un-cleared sites, local agencies will strive to persuade local people to move as soon as possible and settle their lives, meanwhile the cleared areas will soon be leveled to carry out infrastructure constructions and handed over to Samsung plants as committed.
Representative of Thai Nguyen’s Department of Planning and Investment when talking to Vietnam Economic News’ reporter said once they’d become aware of the Samsung Group’s decision to invest in Thai Nguyen, the province had actively went to see the investors and offered its investment support plans. This proved that to lure big investment projects, the provincial leaders needed to take the initiative. This is also regarded as an important criteria in the evaluation of the annual Provincial Competitive Index organized by the Vietnam Chamber of Commerce and Industry (VCCI).
| The Samsung Thai Nguyen Hi-tech Complex started construction since March 2012 with a total designed capacity of 100 units of products per year. With a total investment capital of US$3.2 billion, the project comprises of a US$2 billion plant for processing and assembling mobile phones and hi-tech electronic products, and a US$1.2 billion microchip manufacturing plant. It is expected that the first plant of the project will become operational by the end of 2013 and offer jobs to about 2,000 workers, and increase to 30,000 workers when the complex finishes. |
By Nguyen Hoa
Đăng ký: VietNam News
