The Ministry of Planning and Investment recently submitted a draft decree concerning investment in Build-Operate-Transfer (BOT), Build-Transfer-Operate (BTO), and Build-Transfer projects to the government.
The Ministry of Planning and Investment recently submitted a draft decree concerning investment in Build-Operate-Transfer (BOT), Build-Transfer-Operate (BTO), and Build-Transfer projects to the government.
The draft stipulates that the Prime Minister is to have the final say on projects valued at over 3 trillion VND (187 million USD) while the Ministry of Planning and Investment will be responsible for assessing foreign-invested projects valued at under 3 trillion VND.
The chairpersons of provincial Peoples Committees are to evaluate projects involving domestic capital of 3 trillion VND or less, according to the decree.
It specifies investors are required to demonstrate they have at least 30 percent of the capital for a project before it is undertaken, although this proportion could be reduced to 20 percent in special cases, it states.
The draft stipulates corporate income tax for investors in these projects would be 10 percent. During the first four years of business, investors are exempt from tax then during the next nine years a tax rate of 5 percent is applicable.
(Source: VNA)
