Hoa Binh attracts investment projects valued at more than US$2 billion

These projects specialize in the fields of tourism, food processing, cement production, industrial park infrastructure, urban development, among others.

The licenses were presented at an investment promotion conference held by the Hoa Binh provincial Party Committee on February 26. 

Addressing the event, Secretary of the Hoa Binh Provincial Party Committee Nguyen Phi Long noted in addition to general preferential policies, Hoa Binh has also offered businesses a number of other attractive incentives.

The incentives include an exemption from corporate income tax for the first four years, a 50% reduction of the corporate income tax in the next nine years, an exemption and reduction of land rent and water surface rent, and an exemption and reduction of import and export tax.

In addition, the province has also issued a policy to encourage investment in the agricultural sector in line with the Government’s decree 210 dated December 19, 2013 that encourage investment and the application of high technology in agriculture.

Hoa Binh encourages investment in hi-tech agriculture, food and farm produce processing, trade and services, tourism, as well as supply chain development, said Long.

He assured that Hoa Binh rolls out the red carpet to welcome both domestic and foreign investors, and it accompanies along with investors for win-win cooperation.

Addressing the ceremony, Prime Minister Pham Minh Chinh suggested that to attract investors, Hoa Binh should prepare necessary conditions such as traffic infrastructure, complete infrastructure at industrial parks, information infrastructure and human resources in association with perfecting institutions and laws, and improving the business investment environment.

The Prime Minister also suggested that investors properly fulfill their commitments, disburse investment capital quickly, well implement corporate culture and say no to negatives.