Prime Minister Nguyen Tan Dung has agreed in principle to permit SaigonIndustry Corporation to build a chip making factory worth 6.6 trillionVND (309 million USD).
This will enable it to enjoy policyincentives from the Vietnam Development Bank loans worth up to 60percent of the total investment cost.
The project will be exemptfrom import tax for five years - and probably also from value-added taxon equipment and supplies that are not produced locally. This will helpthe company's research and development activities.
Since it willapply high technology, the project will also enjoy a preferential tax of10 percent for a period of 30 years, tax exemption for four years, and a50 percent tax reduction for nine years.
In addition, it willget financial assistance under Decision 2457/QD-TTg on the nationalhi-tech development programme until 2020.
The project will bedeveloped in accordance with the Government Decision 842/QD-TTg datedJune 1, 2011. The Prime Minister has told HCM City government toappraise and approve the project.
He has also told it to makesure the investor implements the project in accordance with regulationsand to make sure money is invested efficiently.
As proposedpreviously by the City government and the investor, a chip plant will bedeveloped at Saigon Hi-Tech Park (SHTP). The investor has leased 10hectares at the park.
In the middle of 2012, the HCM Cityauthorities launched the chip industry development programme with avision to achieve the sector's annual revenues of 100-150 million USD by2017. The programme will train about 2,000 engineers and technicians,and serve about 30 companies.-VNA
This will enable it to enjoy policyincentives from the Vietnam Development Bank loans worth up to 60percent of the total investment cost.
The project will be exemptfrom import tax for five years - and probably also from value-added taxon equipment and supplies that are not produced locally. This will helpthe company's research and development activities.
Since it willapply high technology, the project will also enjoy a preferential tax of10 percent for a period of 30 years, tax exemption for four years, and a50 percent tax reduction for nine years.
In addition, it willget financial assistance under Decision 2457/QD-TTg on the nationalhi-tech development programme until 2020.
The project will bedeveloped in accordance with the Government Decision 842/QD-TTg datedJune 1, 2011. The Prime Minister has told HCM City government toappraise and approve the project.
He has also told it to makesure the investor implements the project in accordance with regulationsand to make sure money is invested efficiently.
As proposedpreviously by the City government and the investor, a chip plant will bedeveloped at Saigon Hi-Tech Park (SHTP). The investor has leased 10hectares at the park.
In the middle of 2012, the HCM Cityauthorities launched the chip industry development programme with avision to achieve the sector's annual revenues of 100-150 million USD by2017. The programme will train about 2,000 engineers and technicians,and serve about 30 companies.-VNA
