Laws of Vietnam

THE PRIME MINISTER

DECIDES:

Article 1.- To amend and supplement a number of articles of the Regulation on operation of Van Phong Economic Zone (below referred to as Van Phong EZ for short) promulgated together with Decision No. 92/2006/QD-TTg of April 25, 2006, as follows:

1. To amend and supplement Article 13 as follows:

- Clause 1 is amended into the following:

"Investors with investment projects in Van Phong EZ are entitled to preferential policies applicable to geographical areas with particularly difficult socio-economic conditions and policies applicable to economic zones as provided for by the investment law, tax law, land law and other relevant laws."

- Clause 4 is amended and supplemented into the following:

"Besides incentives provided for in this Regulation, the following investment projects in Van Phong EZ are entitled to the enterprise tax rate of 10% throughout their implementation duration:

a/ Hi-tech projects which satisfy the requirements specified in Clause 2, Article 5 of the Regulation on Hi-Tech Parks promulgated together with the Government's Decree No. 99/2003/ND-CP of August 28, 2003;

b/ Projects on the List of domains eligible for particular investment incentives and with great socio-economic impacts, which are submitted by the Ministry of Finance to the Prime Minister for decision in case greater encouragement is necessary."

2. Article 15 is amended and supplemented as follows:

"Article 15.- Investors (except for entities specified at Point d, Clause 4, Article 3 of the Investment Law) may invest in building dwelling houses for sale or lease; invest in building infrastructure in the functional quarters for lease, sub-lease or transfer of the right to use land associated with infrastructure in Van Phong EZ according to relevant provisions of the land law. Overseas Vietnamese may purchase dwelling houses associated with residential land use rights; foreigners permanently residing in Vietnam and foreign investors may rent dwelling houses associated with residential land use rights in Van Phong EZ according to the laws on dwelling house and land."

3. Article 16 is amended and supplemented into the following:

"Article 16.- To apply the single-price policy on goods, services and land rent rates to investors conducting investment, production and business activities in Van Phong EZ."

4. Clause 4 of Article 17 is amended into the following:

"For cases of land sub-allocation and land lease without auction of land use rights or bidding of projects involving land use: Based on the land price set by the People's Committee of Khanh Hoa province and relevant provisions of law, Van Phong EZ's Management Board shall decide on land and water surface use levy and rent rates. Land and water surface use levy or rent exemption or reduction levels shall be applied in accordance with law."

5. Article 24 is amended into the following:

"Article 24.- Organizations and individuals that record merits in mobilizing official development assistance sources, foreign direct investment projects and domestic investment projects in Van Phong EZ shall be rewarded according to the Regulation promulgated by the People's Committee of Khanh Hoa province after it is approved by the Ministry of Finance."

6. Article 27 is added as follows:

- Clause 5 is added with the following paragraph 2:

"Van Phong EZ's Management Board may collect charges or fees for the use of infrastructure and public facilities in Van Phong EZ in accordance with the law on charges and fees."

- Clause 7 is added with the following paragraph 2:

"Van Phong EZ's Management Board shall formulate human resource development projects in order to satisfy the needs of Van Phong EZ and submit them to the People's Committee of Khanh Hoa province for approval and implementation."

7. Article 29 is added with the following Clause 3:

"3. The Custom office in Van Phong EZ shall supervise and manage goods circulated between the non-tariff zone and foreign countries and the other areas of the Vietnamese territory."

Article 2.- This Decision takes effect fifteen (15) days after its publication in "CONG BAO."

Article 3.- Ministers, heads of ministerial-level agencies, heads of government-attached agencies and the president of the People's Committee of Khanh Hoa province shall implement this Decision.