Slide 1 - Phu Quoc Island_ Vietnam by wuyunqing

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									         PEOPLE’S COMMITTEE OF KIEN GIANG PROVINCE


          PROMOTION CONFERENCE CALLING FOR INVESTMENT INTO

                              PHU QUOC
PART 1        INCENTIVE POLICIES ON INVESTMENT

PART 2        PROJECTS CALLING FOR INVESTMENT




                                                 HCMC, May 9,2006
 PEOPLE’S COMMITTEE OF KIEN GIANG PROVINCE

INTRODUCTION :
               INCENTIVE POLICIES ON INVESTMENT
           AND PROJECTS CALLING FOR INVESTMENT INTO




                                                      2
THE DECISIONS OF PRIME MINISTER ABOUT THE DEVELOPMENT OF PHU QUOC ISLAND

                         (From November 5, 2004 to now)

               PRIME MINISTER



                                       Decision no 178/2004/QĐ-TTg date October 5 ,2004



                                       Decision no229/2005/QÑ-TTg date November 16,2005



                                         Decision no 1197/QÑ-TTg date November 9,2005



                                            Decision no14/QÑ-TTg date January 4,2006



                                        Decision no 38/2006/QÑ-TTg date February 14,2006
THE DECISIONS OF PRIME MINISTER ABOUT THE DEVELOPMENT OF PHU QUOC ISLAND



                         (From November 5, 2004 to now)


   178/2004/QĐ-TTg
                                                     PREFERENTIAL POLICIES
  date October 5 ,2004            PART 1



                                                      THE REGULATION ON
  229/2005/QÑ-TTg                                 FOREIGNERS ENTRY INTO, EXIT
 date November 16,2005            PART 2
                                                    FROM AND RESIDENCE IN



  38/2006/QÑ-TTg                                     ENCOURAGING POLICIES
 date February 14,2006            PART 3                ON INVESTMENT
PART 1
             PREFERENTIAL POLICIES


 The Decision no. 178/2004/QD-TTg dated October 5, 2004 of the
 Prime Minister, the content of this Decision is to determine the target of
 the overall scheme on development of Phu Quoc Island, Kien Giang
 province till 2010 with a vision toward 2020.

 At article 7, the Prime Minister permitted Phu Quoc to apply the highest
 preferential mechanisms and policies promulgated by the Vietnamese State.
 In the other words, any places in the territory of Vietnam is permitted to
 apply the highest preferential mechanisms and policies promulgated by the
 Vietnamese State, Phu Quoc island of Kien Giang province shall be applied
 the same preference.
PART 2
THE REGULATION ON FOREIGNERS ENTRY INTO, EXIT FROM
                 AND RESIDENCE IN

  Foreigners and Vietnamese holding foreign passports, entering, exiting
  from, and residing in, Phu Quoc Island, for a stay period not
  exceeding 15 days shall be exempt from visas; foreigners who enter
   the Decision no. 229/2005/QD-TTg dated September 16, 2005 of
  an other international border-gate of Vietnam and stay in its transit
   the Governmentalholding valid foreign crew member's books or Decision is
   Crew members Prime Minister, the main content of this crew
  lounge before traveling to Phu Quoc island shall also be exempt from
   that the passport may promulgated the regulation on foreigners entry
   member's Prime Minister enter, exit from, and reside in, Phu Quoc island
               instance, foreigners who enter Phu Quoc island.
  visas. For period when their ships anchor atPhu Quoc Island from
   into, exit from, and residence in, Phu Quoc Island, Kien Giang
   during the
  Bangkok or Phnom Penh can transit in Tan Son Nhat International
   province.
  Airport, Ho Chi Minh City shall also be exempt from visas and can
  stay in Phu Quoc not exceeding 15 days.
PART 3
         ENCOURAGING POLICIES ON INVESTMENT



   The Decision no. 38/2006/QD-TTg on February 14,
   2006 of the Prime Minister, the main content of this
      I. POLICY ON LAND
                      of
   Decision consists TAX2 parts:
    II.    POLICY ON
   III. POLICY organization and operation of Phu Quoc
      Statute for ON NON-CUSTOM AREA
            Development Investment Management
   Island POLICY ON BUSINESS REGISTRATION Board.
    IV.
   Preferential and encouraging policies for investment into
             AND ISSUING THE INVESTMENT
   Phu Quoc Island
             LICENCE


                                                                7
     ENCOURAGING POLICIES ON INVESTMENT


I.   POLICY ON LAND

         Foreign investors investors have
 1.a Domestic and foreign have the rights: operations on tourism,
 1.
 To land lease, land sub-leasecommodities or construction of
 services, production, business of for land with invest on
 Foreignersinfrastructure composition of the enterprises for investors
                   permanently         in Vietnam and foreign
      technical works in Phu residingIsland have the rights:
 infrastructure                 Quoc
      are entitled construction and business onand lease resident land
      investment, to purchase dwelling-house composition of
      for long-term in Phu Quoc Island.
      infrastructure;

     To transfer the renting land use right and property attached to
      land during the term of land lease or land sub-lease; to
      mortgage, guarantee, and contribute capital by the renting land
      use right in case of the total rental land is paid once;
           ENCOURAGING POLICIES ON INVESTMENT


I.         POLICY ON LAND

     1.bDomestic investors have the rights:
     - To transfer land use right, land lease, land sub-lease for land
          with construction of technical infrastructure composition;
     - To mortgage, guarantee and contribute capital by the value of
          land use right and property attached on land during the
          remaining term of land use;
     - Vietnamese living abroad is entitled to purchase dwelling-house
          attached to the land use right in Phu Quoc. Island.
    ENCOURAGING POLICIES ON INVESTMENT


  I. POLICY ON LAND
1.2/ The maximum exemption for rental land is 15 years from the date to
     finish the construction.
1.3/ The unit price of land rental per year equals 50% unit price of land rental
     regulated by Government in Decree no. 142/2005/ND-CP on November 14,
     2005. However, the least price equals 0,25% of land price according to the
     using purpose of renting land promulgated by People’s Committee; the rental
     land is stable in 5 years.

   To apply the policy of one price for commodities, services and land
    rental towards organizations, individuals without discrimination of
    inland people from foreigners, who have the operation of production,
    business in Phu Quoc Island.
   ENCOURAGING POLICIES ON INVESTMENT


II. POLICY ON TAX

 Government regulated all invested projects into the Phu
Quoc Island are entitled to enjoy preferences for areas having
specially difficult economic-social conditions (List C).
 Government determined Phu Quoc Island to be as the
national main-point tourist zone, so the investment projects on
tourism business in Phu Quoc Island belong to List A.
  ENCOURAGING POLICIES ON INVESTMENT


II. POLICY ON TAX
  2.1/Preferences of income tax:
  - Investment projects of domestic and foreign organizations and
       individuals into the Phu Quoc Island District are entitled to
       enjoy a tariff on enterprise income tax of 10% applied
       during the period of the project implementation (the
       present income tax is 28% for all enterprises).
  - The maximum exemption is 4 years since getting income tax
       and 50% tax-reduction for 9 years following.
     ENCOURAGING POLICIES ON INVESTMENT


 II. POLICY ON TAX
    Preferences of of income
2.3/2.2/ Preferences import tax: tax for people having high income:
    - Reduce 50% income tax are exempt from import tax including
- Domestic and foreign investorsfor people having high income,towards one-
           imported and foreigner working create Quoc Island.
     time Vietnamesecommodities in order to in Phu the fixed property during
     the time of investment to projects; mechanism of the above
     preferences to be applied even to cases of enlarging scale of project,
     substitution and renovation of technology.
- As for BOT project, it is still exempt from import tax towards fuel, raw
     material, material and means imported of kinds not yet to be
     produced in the country, for serving the construction, operation of
     BOT project
    ENCOURAGING POLICIES ON INVESTMENT


II. POLICY ON TAX


2.4/ Preferences of VAT tariff:
- Commodities, services manufactured, consumed in the Non-
    customs Areas and those imported from foreign country into
    the Non-customs Areas are not to pay value added tax.
    Commodities, services from the interior of Vietnam and other
    functional zones on the Phu Quoc Island bringing into the
    Non-customs Areas will be applied a VAT tariff of 0%.
       ENCOURAGING POLICIES ON INVESTMENT


III. POLICY ON NON-CUSTOM AREA
        Commerce of Quoc Island, export, import, transfer construct 2
b) 3.1/ On the Phugoods (including Government allowed to through border
      gate, temporary import, which will be attached to An Thoi Port and
          Non-customs Areas
           re-export, Airport. The Non-customs Area for
          Phu Quoc distribution, shops and supermarket has hard fence
           retail, shops and supermarkets of In the Non-customs Area has
          separated with surrounding areas.non-duties);
          no residential areas
c) Commerce of services (classification, packaging, transport, forwarding and
      receiving of transit goods, maintenance, warehouse, bonded warehouse,
      finance, banking, transport, insurance, entertainment services, restaurant);
   3.2/ Types of main production and business in Non-customs Areas
d) Trade promotion (fair, exhibition, showroom, branches and representative
          including:
      offices of domestic and foreign companies and finance-banking
      a) Production, processing, re-production, assembling of export
      organizations) and other trade operations.
        goods, import goods, and goods for serving on the spot;
     ENCOURAGING POLICIES ON INVESTMENT


III. POLICY ON NON-CUSTOM AREA


    3.3/ Progress of the implementation:
    - From 2006-2010, some works shall be implemented with the
         average and small investment scale such as duty-free stores,
         retail supermarket, services of finance and banking in An Thoi
         Port and Duong Dong Airport.
    - After 2010 the Non-customs Areas will be invested completely
         according to the planning in An Thoi Port and Duong To
         Airport.
    ENCOURAGING POLICIES ON INVESTMENT


IV. POLICY ON BUSINESS REGISTRATION
    AND ISSUING THE INVESTMENT LICENCE.
    Foreign direct investment projects into Phu Quoc Island are approved as per
     the process of registration for issuing the Investment Licence. Domestic
     invested projects are considered, approved as per the current regulations with
     the simplest procedures.
    Decision no. 38/2006/QD-TTg dated February 14, 2006 of the
     Governmental Prime Minister allowed to establish Phu Quoc Island
     Development Investment Management Board. People’s Committee of Kien
     Giang province co-ordinated Ministry of the Interior to finish the project for
     the establishment of Phu Quoc Island Development Investment Management
     Board and aslo submited this project to the Governmental Prime Minister.
     ENCOURAGING POLICIES ON INVESTMENT


IV. POLICY ON BUSINESS REGISTRATION
    AND ISSUING THE INVESTMENT LICENCE.

   Decisionpresent, Phu Quoc Island dated FebruaryInvestment of the
    At the no. 38/2006/QD-TTg Development 14, 2006
   After the project for the establishment of Phu Quoc Island
    Management Prime Minister allowed establish Phu Giang
    Governmental Board is not established.to Therefore Kien Quoc Island
    Development Investment Management Board is approved, all
    Department Planning Management Board. People’s office, will
    DevelopmentofInvestment and Investment, the direct keyCommittee of
    procedures of business registration, issuing the Investment Licence,
    contact with the investors in order to carry the Interior to
    Kien Giang province co-ordinated Ministry ofout investment finish the
    land delivery... to investors is implemented quickly and passed one-
    procedures for establishment
    project for the the investors. of Phu Quoc Island Development
    door office at Phu Quoc Island Development Investment Management
    Investment Management Board and aslo submited this project to the
    Board. This is the key office to solve problems of the investors so
    Governmental Prime Minister.
    that they do not need to contact with other provincial departments in
    the mainland.

								
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