LAC THINH INDUSTRIAL PARK HOA BINH PROVINCE, VIET NAM
Lac Thinh Industrial Park is located in Lac Thinh, Yen Lac Commune, Hang Tram Town, Yen Thuy District, Hoa Binh Province.
Lac Thinh Industrial Park is one of the potential industrial parks of Hoa Binh Province that is attracting domestic and foreign investors. At the same time, creating jobs and improving the living standards of local workers. The system of trees is arranged alternately between other functional areas to create green space for the purpose of environmental protection. Infrastructure is being built, and enjoy many preferential regimes when investing.
Traffic incentives of businesses operating in Lac Thinh Industrial Park
The industrial park has a strategic location for business and industrial development, flat terrain, convenient for goods transportation and circulation, adjacent to big cities with large ports and national highways, specifically as follows:
Road:
- 90km from Hanoi City Center
- 247km from Lang Son City Center
- 7km from Hoa Binh City Center
Waterway:
- 196km from Hai Phong Port
Airline:
- 90km from Noi Bai International Airport
Investor: Vina Greentex Co., Ltd
Area of Lac Thinh Industrial Park: The industrial park was built on a large scale with a total area of 220ha.
Economic planning:
- High industrial technology
- Production of technology incubators
- Software engineering, electricity, electronics
- Manufacture of electrical, electronic and information technology equipment
Preferential policies at Lac Thinh Industrial Park:
Corporate income tax incentives
Enterprises implementing new investment projects specified at points a and b below shall apply the tax rate of 17% for 10 years.
- a) Income of enterprises from implementing new investment projects in industrial parks in the province
- b) Particularly for the Bo Trai Song Da industrial park, this tax rate is expected to apply to the following areas: Income of enterprises from implementing new investment projects: Producing high-grade steel; producing energy-saving products; manufacturing machinery and equipment for agriculture, forestry, fishery and salt production; production of irrigation equipment; producing and refining animal, poultry and aquatic feed; traditional industry development. Other projects Bo Trai Song Da Industrial Park are expected to pay tax at 20%.
Incomes from implementing new investment projects in industrial zones in the province are exempt from tax for at least 2 years and reduce 50% of the payable tax for the next 4 years.
In addition, all projects are exempted from land rent during the period of capital construction, implemented under projects associated with the State’s new land lease, and changed from land allocation without collection of land use levy to land lease maximum period is 3 years.
The preferential tax rate of 10% for a period of 15 years applies to:
- a) Incomes of enterprises from implementing new investment projects in the following fields: Scientific research and technological development; high-tech applications on the list of hi-tech prioritized for development investment in accordance with the Law on High Technology; high-tech incubation, high-tech enterprise incubation; venture capital investment in the development of high technologies on the list of high technologies prioritized for development in accordance with the law on high technology; investment in construction – the business of high-tech incubators, high-tech enterprise incubation; invest in the development of water plants, power plants, water supply and drainage systems; software product production; production of composite materials, all kinds of light construction materials, rare and precious materials; produce renewable energy, clean energy, energy from waste destruction; biotechnology development.
- b) Incomes of enterprises from implementing new investment projects in the field of environmental protection, including the Manufacture of equipment to treat environmental pollution, equipment for environmental monitoring and analysis; pollution treatment and environmental protection; collection and treatment of wastewater, exhaust gas and solid waste; recycling and reuse of waste.
- c) High-tech enterprises and high-tech agricultural enterprises.
- d) Income of the enterprise from the implementation of new investment projects in the field of production (except projects for the production of goods subject to excise tax, mining projects) that satisfy either of the following two criteria:
– Projects with a minimum investment capital of VND 6 trillion, disbursed within 3 years from the date of issuance of the investment license and with a total revenue of at least VND 10 trillion/year within 3 years at the latest year from the year of revenue.
– The project has a minimum investment capital of 6 trillion VND, disbursed within 3 years from the date of issuance of the investment license and employs more than 3,000 employees (only employees with labor contracts are included) working full-time, excluding part-time employees and short-term contract workers under 01 year) no later than 3 years from the year of revenue.
The tax rate of 10% applies to the following incomes:
- a) Income of the enterprise from performing socialization activities in the fields of education – training, vocational training, health, culture, sports and environment.
- b) Income from publishing activities of the Publisher in accordance with the Law on Publishing;
- c) Income from printing press activities (including advertising on printed newspapers) of press agencies according to the provisions of the Press
- d) Income of the enterprise from implementing investment projects – social housing business for sale, lease, lease purchase for the subjects specified in Article 53 of the Law on Housing.
The tax rate of 17% applies to:
- a) Income of enterprises from implementing new investment projects in industrial parks in the province
- b) Particularly for the Bo Trai Song Da Industrial Park, the tax rate of 20% applies to the following areas: Income of enterprises from implementing new investment projects: Producing high-grade steel; producing energy-saving products; manufacturing machinery and equipment for agriculture, forestry, fishery, and salt production; production of irrigation equipment; producing and refining animal, poultry and aquatic feed; traditional industry development.
Tax-free incentives, tax reductions
- Tax exemption for 4 years, 50% reduction of payable tax for the next 9 years for enterprises’ incomes from implementing new investment projects in the field of socialization implemented in industrial parks in the province (except Bo Trai Song Da Industrial Park)
- Tax exemption for 4 years, 50% reduction of payable tax for the next 5 years for enterprise income from implementing new investment projects in the field of socialization Ba Trai Song Da Industrial Park.
- Tax exemption for 2 years and 50% reduction of payable tax for the next 4 years for income from implementing investment projects in industrial zones in the province.
- Enterprises that transfer technology in the fields of priority transfer to organizations and individuals in geographical areas with difficult socio-economic conditions are entitled to a 50% reduction in corporate income tax on the portion of the enterprise income tax income from technology transfer.
Import duty-free offer
Import tax exemption for goods imported to create fixed assets of investment projects in industrial parks:
- Equipment, machinery
- Specialized means of transport in technological lines cannot be produced domestically; Means of transport for transporting workers include cars with 24 seats or more and water vehicles.
- Components, details, separate parts, spare parts, jigs, molds and accompanying accessories for synchronous assembly with specialized equipment, machinery and means of transport specified at points a and b of clause 1 of this article.
- Raw materials and supplies that cannot be domestically produced are used to manufacture equipment and machinery in technological lines or to manufacture components, details, separate parts, spare parts, jigs, molds and accessories accompanying accessories for synchronous assembly with equipment and machinery specified at point a of this clause.
- Construction materials cannot be produced domestically.
Main products of Lac Thinh Industrial Park:
- Factory for rent is available
- Industrial parkland for rent
- Leasing land and building factories on request
Other utilities of Lac Thinh Industrial Park:
- Security system
- Internal infrastructure system
- Water supply and drainage system
- Garbage and wastewater treatment system
- Clean water supply system
- Fire protection system
- Automatic wastewater monitoring system
In addition, businesses operating in Lac Thinh Industrial Park, Hoa Binh Province will be able to use preferential services of the Vinasc Group system. Specific services such as:
- Accounting services
- Auditing service
- Tax consulting service
- Appraisal service
- Established business services
- Legal and license consulting services
- Consulting and building internal control process services
- Work permit, temporary residence services for foreigners
Industrial parks in the same area in Hoa Binh Province:
- Binh Phu Industrial Park
- Lac Thinh Industrial Park
- Thanh Ha Industrial Park
- Luong Son Industrial Park
- Yen Quang Industrial Park
- Nhuan Trach Industrial Park
- Bo Trai Song Da Industrial Park
- Nam Luong Son Industrial Park