Investment support packages are financial aid packages in which the Vietnamese Government offers investors the opportunity to benefit from certain favorable financial conditions, technical infrastructure, science and technology in order to attract domestic and foreign entrepreneurs and investors. According to the current Investment Law, investment aid is provided by the state to enterprises investing in high-tech, science and technology, agriculture, investment in rural areas, and education. Currently, there are 7 investment aid support packages:
1. Support for the development of technical and social infrastructure inside and outside the investment project, It is a form of support package provided from the state budget and preferential loan capital for a part of the investment capital in accordance with the regulations of the Planning Law, provided to the investment that will serve socio-economic activities through other mobilization methods for the simultaneous development of technical infrastructure.
2. Support in the training and development of human resources, is a form of aid package linked to the training development policy. The Vietnamese Government has a policy of prioritizing budget expenditures on vocational education and higher education activities. It is a form of support offered to investors in order to meet the business needs of investors, to train highly educated employees and establish vocational training schools, universities and educational support funds to activate and encourage socialization in education.
3. Credit Support is a form of aid that helps in solving capital funding problems, by which financial funds are established and a loan guarantee is provided for investors to obtain loans from commercial banks. Vietnamese government policy encourages commercial banks to lend and privately established funds to contribute capital to businesses, allowing for a strong financial foundation for increased investment activities.
4. Access and Relocation support to workplaces; Aid under the decisions of regulatory bodies for the relocation of businesses is a form of assistance established on the basis of the Land Law, which allows investors to access business centers or transfer land use rights from other land users through land allocation, lease or recognition of land use rights by the Vietnamese Government. It also includes financial support packages for the construction of industrial zones, export processing zones, high-tech zones and economic zones with existing socio-technical infrastructure for investors, as well as for the relocation of production facilities away from the city.
5. Support in science, technology and technology transfer is a form of aid provided for science and technology service providers created with the purpose of facilitating access to scientific and technological information to serve the research, education, production and sale of organizations and individuals, establishing a national database on science and technology and to establish a communication policy for scientific statistics.
6. Support in market development and information provision is a form of aid for businesses with the aim of solving output market difficulties through the implementation of National Trade Promotion Programs.
7. Assistance in research and development is a form of assistance applied to ensure the competence of science and technology organizations, as well as to create and develop a science and technology market; It is the support of the Vietnamese Government for science and technology organizations engaged in scientific and technological activities to create breakthrough solutions, increase investment activities, increase local research capacities and promote research and development services.
The Vietnamese Government also has special investment support packages to encourage the development of some investment projects with significant socio-economic impacts:
1. Certificate or Approval for investment guidelines for projects related to the establishment of research and development centers (including the expansion of such establishment project) with a total investment capital of at least VND 3,000 and payouts of at least VND 1,000 billion within 3 years from the date of issue of investment registration; The National Innovation Center established by the decision of the Prime Minister; 2. Special Investment Incentives are eligible for projects in the business line with an investment capital of at least VND 30,000 billion and paying at least VND 10,000 billion within 3 years from the date of issue of the investment registration.
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