Vietnam - New Business Activities Entitled To Investment Incentives (With Specific Focus On SMEs, Start-ups And Incubators).
Legal News & Analysis - Asia Pacific - Vietnam - FDI
6 September, 2019
Draft Decree amending certain provisions of Decree No. 118/2015/ND-CP implementing the Law on Investment (focusing on SMEs, start-ups and incubators)
The Government recently issued a Draft Decree (Draft Decree) amending certain provisions of Decree No. 118/2015/ND-CP implementing the Law on Investment which aims to encourage the business environment of start-ups and small and medium-sized enterprises (SMEs) by proposing to add the following business activities to the list of industries and trades entitled to receive investment incentives:
(i) Business investment in products distribution chain of SMEs;
(ii) Business investment in establishment of SMEs incubators;
(iii) Business investment in technical facilities supporting SMEs; and
(iv) Business investment in co-working spaces for SMEs and start-ups.
In accordance with the relevant legislation, applicable investment incentives shall comprise
(a) corporate income tax incentives,
(b) import duty incentives and
(c) exemption and reduction of land rent.
For further information, please contact:
Mark Fraser, CEO/ Managing Partner, Frasers Law Company