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Commitment and principle of application of investment preferences in Binh Phuoc province

(BP Portal) - This content is stipulated by the people's council of Binh Phuoc province in resolution 02/2020/NQ-HDND of July 13, 2020 on the policy on investment promotion, preference and support in the province.
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Commitments by Binh Phuoc province

1. Binh Phuoc province is committed to the full implementation of the investment promotion, preferential treatment and support policies in the province with the most preferential provisions in accordance with the Investment Law, The Enterprise Law and other relevant legal documents.

2. In addition to regulations on the general investment preference policies of the State of the Socialist Republic of Vietnam, Binh Phuoc Province shall provide investment preference policies in the province according to the terms mentioned in this Regulation.

3. Administrative procedures for investment are uniformly applied and implemented in the territory of Binh Phuoc province. The Ministry of Administrative Procedures is publicly listed at the provincial Public Administration Service Centre and posted on the public service Information Portal and electronic information portal of the Binh Phuoc provincial People's Committee. In addition to the procedures, dossiers and papers prescribed in the Ministry of Procedures which have been publicized for application, the one - door department receives dossiers which are not required, requiring the addition of other procedures and papers.

4.  When the investment procedures are carried out, where the land area in project implementation is not included in the approved annual land use plan, the land use shall comply with the direction of the provincial People's Committees.

The Principle of Preferential Treatment

1.  In case new laws and policies are enacted with higher rights and preferences given to the rights and privileges which the investor has already enjoyed, the investor is entitled to new interests and preferences for the remainder of the period from the date the new law or policy takes effect.

2.  In cases where a new legal document provides for lower investment preferences than the previously enjoyed investment privileges, the investor may continue to apply investment preferences as prescribed previously for the duration of the remaining preferential treatment duration of the project.

3.  Where the investor enjoys various preferential levels, the highest preferential levels shall be applied.

4. The investment project has a capital scale of 6,000 VND or more, it disburses at least 6,000 billion VND within 3 years after being granted the investment registration certificate, or it is decided that the investment is entitled to investment preferences as prescribed for investment projects in areas with exceptionally difficult socio-economic conditions.

5.  Investment projects funded by over 500 laborers in rural areas (excluding non-full - time working laborers and laborers with contracts under 12 months) enjoy investment preferences as prescribed for investment projects in areas with difficult socio-economic conditions.

6.  Investment projects of branches and trades offered in investment preferences performed in localities with difficult socio-economic conditions enjoyed investment preferences as prescribed for geographical investment projects with particularly difficult socio-economic conditions./.
Translator: Ms.Thao
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