Vietnamese incentives for investors

The authorities at the Dung Quat Economic Zone in central Vietnam are offering numerous incentives to potential investors, according to the Vietnamese News Agency. Le Hue, vice-chairman of the Zone's management authority, told a recent meeting organised by the American Chamber of Commerce in Vietnam that companies establishing themselves in the Zone would be exempt from paying duties on imports on materials and semi-finished products for five years. In addition, a preferential corporate tax rate of only 10% will be applied during their first 15 years of production operations, with a 50% tax discount on the normal tax rate in the following nine years (years 16-24).