Investment incentive policy in Quang Ngai

Enterprises investing in Dung Quat Economic Zone are exempted from land rent during the basic construction period but not exceeding 3 years from the date of the land lease decision (excluding cases of investment in construction, renovation and expansion of production and business facilities). Exemption from land rent after the land rent exemption period of the basic construction period, including: 19-year exemption for investment projects in the list of investment incentive sectors. 15-year exemption for investment projects not in the list of investment incentive sectors. Exemption for the entire period for investment projects in the field of special investment incentives. Tax incentives, including: Exemption from tax on goods to create fixed assets of subjects enjoying investment incentives according to incentives of the law on investment. Exemption from import tax for 05 years, from the date of commencement of production for raw materials, supplies, components that are not yet produced domestically and are imported for production of investment projects in the list of industries with special investment incentives according to the provisions of the law on investment. Enjoy preferential corporate income tax rate of 10% for 15 years, from the date the project commences business operations; of which the first 04 years from the date of taxable income and 50% reduction of tax payable for the next 09 years.

Enterprises investing in Quang Ngai Industrial Parks are exempted from land rent during the basic construction period but not exceeding 3 years from the date of the land lease decision. Exemption from land rent for 15 years for investment projects in the list of special investment incentive sectors. Exemption for 11 years for investment projects in the list of investment incentive sectors. Exemption for 7 years for investment projects not in the list of investment incentive sectors. Tax incentives include: Exemption from goods tax to create fixed assets of subjects enjoying investment incentives according to incentives of the law on investment. Exemption for 5 years for projects in the list of special investment incentive sectors according to regulations. Enjoy preferential corporate income tax rate of 17% for 10 years, from the date the project starts business operations; of which the first 2 years are exempted from taxable income and 50% reduction of tax payable for the next 4 years.

Industries and fields that need to focus on attracting investment in Dung Quat Economic Zone and Quang Ngai Industrial Parks include: Energy industry, petrochemical refining, chemicals, mechanical engineering, metallurgy, materials. High-tech industry, information technology - telecommunications, electronics industry, pharmaceutical industry, biological products production, environmental industry, clean energy industry, renewable energy, smart energy, processing and manufacturing industry for agriculture, new materials. Textile and footwear industry. Supporting industries: supporting industries related to petrochemicals, metallurgy, mechanics, electricity - electronics, agricultural, forestry and fishery processing, textiles and footwear. Seaport logistics service projects, logistics services to develop Dung Quat Economic Zone into a port service center to meet the development needs of Dung Quat Economic Zone and Quang Ngai Industrial Parks.

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