Hau Giang Province Offers Investment Incentives

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Oct. 20 – Hau Giang Province located south of Can Tho City and and 240 kilometers of Ho Chin Minh City is offering incentives to attract more investors.

Investors in the province will be qualified for zero import and export taxes, a 15-20 percent tax reduction on revenue from 10 to 12 years and bank incentive loans.

“Investors would receive exemption from land lease fees, and land and water surface taxes for 3-15 years,” Nguyen Van Thang, deputy chairman of the Hau Giang People’s Committee was quoted by Vietnam Net during an investment promotion conference held for the province in Hanoi.

One of Hau Giang Province’s  main industry is rice; producing an average 1 million tons annually and comprising 350,000-400,000 tons to the country’s overall rice exports. “We [provincial authorities] are calling for investment to increase the storage and processing capacity of the province,” Thang said.

Currently, the province’s storage and processing capacity are only 12 and 17 percent of their export production. There are business opportunities to be found in the province’s production of a local fish -thac lac – as a an export seafood product.

The local authorities are also planning on building industrial parks adjacent the national highways No. 1A and No. 61 that have sea access through inland canals and rivers. So far, fifteen companies have committed to investing in projects worth VND35 trillion which includes a VND19.5 trillion thermal power plant project by the Vietnam Oil and Gas Corporation.