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THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.37/2000/QD-TTg
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Hanoi,
March 24, 2000
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DECISION
PROMULGATING THE POLICY OF ASSISTANCE TO THE
DEVELOPMENT OF KEY INDUSTRIAL PRODUCTS (APPLICABLE TO OCEAN-GOING SHIPS OF
11,500 TONS, INTERNAL COMBUSTION ENGINES UNDER 30 HP AND COLOR TV SETS)
THE PRIME MINISTER
Pursuant to the Law on
Organization of the Government of September 30,1992;
At the proposal of the Minister of Industry, the Minister of Planning and
Investment and the Minister of Finance;
In order to create conditions for the development of a number of key
industries,
DECIDES:
Article 1.- To promulgate
together with this Decision the Policy of assistance to the development of key
industrial products.
Article 2.- The policy of
assistance to the development of key industrial products is applicable to 3
products: ocean-going ships of 11,500 tons (Appendix 1), small-sized internal
combustion engines under 30 HP (Appendix 2) and color TV sets (Appendix 3).
Besides the enterprises assigned with the prime responsibility in implementing
the project of key industrial products, the enterprises assigned to coordinate
with one another and participate in producing the above products (as certified
by the Ministry of Industry) shall also enjoy the priorities and assistance
specified in this Decision.
Article 3.- The Ministry of
Planning and Investment, the Ministry of Industry and the Ministry of Science,
Technology and Environment are assigned to coordinate with the related agencies
in studying to continue adding other products to the list of key industrial
products.
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a/ The Ministry of Industry to
assume the prime responsibility and together with the Ministry of Science,
Technology and Environment coordinate with the related agencies to study and
issue regulations to guide the necessary contents and process so that the
enterprises may have the basis to draw up their plans of implementation and
achieve the criteria required for the products at the national standard.
b/ The Ministry of Finance and
the General Customs Department to direct their dependent units to coordinate
with the enterprises in listing the items of goods exempted from import tax in
conformity with the policy of assistance mentioned in Appendixes 1, 2 and 3 of
this Decision.
c/ The Vietnam State Bank and
the Development Investment Assistance Fund to issue a regulation guiding the
contents and process of evaluation of the capital borrowing and repayment plans
of the projects of producing key industrial products already approved.
The tasks set in Points a, b and
c shall have to be completed before April 30, 2000.
Article 5.- This Decision takes
effect 15 days after its signing.
Article 6.- The Minister of
Industry, the Minister of Planning and Investment, the Minister of Finance, the
Minister of Communications and Transport, the Minister of Trade, the Minister
of Defense, the Minister of Agriculture and Rural Development, the Minister of
Construction, the Minister of Aquatic Resources, the Governor of the Vietnam
State Bank, the General Director of Land Administration, the General Director
of Customs, the General Director of Post and Telecommunications, the Head of
the Government Pricing Committee, the President of the People�s Committee of
Hanoi, the President of the Management Board of the Development Investment
Assistance Fund, the General Director of the Corporation of Shipbuilding
Industry, the General Director of the Motors and Agricultural Machines
Corporation, the Director of the Hanoi Electronics Company, and the heads of
the relevant agencies shall have to implement this Decision.
FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung
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APPENDIX I
POLICY
OF ASSISTANCE TO THE DEVELOPMENT OF KEY INDUSTRIAL PRODUCTS APPLICABLE TO
OCEAN-GOING SHIPS OF 11,500 TONS
(issued
together with Decision No. 37/2000/QD-TTg of March 24, 2000 of the Prime
Minister)
I. ENTERPRISE WITH PRIME RESPONSIBLITY FOR DEPLOYING THE IMPLEMENTATION
OF THE PROJECT:
The Vietnam Shipbuilding
Corporation
II. ASSISTANCE POLICY:
1. On taxation:
- Exemption from import tax up
to the end of December 31, 2003 for the specialized equipment, machinery and
transport means in the technological lines to create fixed assets of the
enterprise and materials which need to be imported but cannot yet be produced
in the country for the building of ships of 11,500 tons.
- Incomes from the building of
11,500-ton ships of the enterprise in execution of the project shall enjoy the
enterprise income tax rate of 25%, are exempt from tax in the first two years
after generating taxable incomes, and enjoy a 50% reduction of the payable
income tax for the two subsequent years.
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- When the need arises to invest
in building production establishments, the enterprise can borrow the State�s development
investment credits from the Development Assistance Fund for a maximum period of
no more than 10 years for each separate loan. The capital borrowing enterprise
shall not have to mortgage its assets, but is not entitled to assign its assets
before it has repaid all its debts (principal and interest) for each loan.
- Allocation of the full 30% of
the working capital under norm for building the 11,500-ton ship to the
enterprise directly producing it, the shortfall in working capital shall be
covered with the State�s
development investment credit from the Development Assistance Fund
corresponding with a production cycle under the projects approved every two
years, including the capital for the import of machinery, equipment and
materials.
- Enterprises using domestically
built 11,500-ton ships, when necessary may borrow the State�s development
investment credit capital from the Development Assistance Fund at a maximum
rate of no more than 85% of the purchase value of the ship and for a loan
period of no more than 10 years.
- Assistance from State budget
fund reserved for scientific and technical research in development research
projects after the project is approved.
3. Other priorities:
50% reduction of land rent for
the enterprise during the period of implementation of the project.
III. PROTECTION MEASURES:
When the need arises to buy
equipment for this type of ship, the State enterprises, regardless of the
sources of capital used, must report and ask for permission from the Prime
Minister. Units building 11,500-ton ships shall be given priority consideration
in the bids to supply ships to the fleets of the Vietnam Maritime Corporation,
the Petrol and Oil Import-Export Corporation, the Vietnam Petroleum
Corporation, the Vietnam Coal Corporation, the Vietnam Cement Corporation and
other shipping organizations.
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POLICY
OF ASSISTANCE TO DEVELOPMENT TO KEY INDUSTRIAL PRODUCTS APPLIED TO SMALL-SIZED
INTERNAL COMBUSTION ENGINES OF UNDER 30 HP
(issued
together with Decision No. 37/2000/QD-TTg of March 24, 2000 of the Prime
Minister)
I. ENTERPRISE WITH PRIME RESPONSIBILITY FOR DEPLOYMENT OF
IMPLEMENTATION OF THE PROJECT:
The Vietnam Motors and
Agricultural Machines Corporation.
II. POLICY OF ASSISTANCE:
1. On taxation:
- Exemption of import tax up to
the end of December 31, 2003 for specialized equipment, machinery and transport
means in the technological lines to create the fixed assets of the enterprise
and the materials that need to be imported but cannot yet be produced in the
country.
- Incomes from activities to
produce small-sized internal combustion engines under 30 HP of the project
implementing enterprise shall enjoy the income tax rate of 25%, are exempt from
tax in the first two years after taxable income is generated and enjoy a 50%
reduction of the payable income tax for the two subsequent years.
2. On capital for the
enterprise:
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- The enterprise shall be
allocated fully the 30% of the working capital under norm, the shortfall in
working capital of the enterprise directly producing this product shall be
covered by the State�s
development investment credits from the Development Assistance Fund
corresponding with a cycle of production of the product.
- The enterprise shall be
assisted by the State budgetary fund reserved for scientific and technical
research in development projects after the project is approved.
3. Other priorities:
Reduction by 50% of land rent
during the period of implementation of the project.
APPENDIX 3
POLICY
OF ASSISTANCE TO DEVELOPMENT OF KEY INDUSTRIAL PRODUCTS APPLICABLE TO COLOR
TELEVISION SETS
(issued
together with Decision No. 37/2000/QD-TTg of March 24, 2000 of the Prime
Minister)
I. ENTERPRISE WITH PRIME RESPONBILITY FOR DEPLOYMENT OF IMPLEMENTATION
OF THE PROJECT:
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II. ASSISTANCE POLICY:
1. On taxation:
- Exemption of import tax up to
the end of December 31, 2003 for the specialized equipment, machinery and
transport means in the technology lines to create the fixed assets of the
enterprise.
-The income from activities to
produce color television sets of the project implementing enterprise shall
enjoy the income tax rate of 25%, is exempt from tax in the first two years
after taxable income is generated and a 50% reduction of the payable taxable
income tax for the two subsequent years.
- Eligible for preferential index
with 0.5% readjustment coefficient in the calculation of import tax for the
localization rate stipulated in the Joint Circular No. 176/1998/TTLT of
December 25, 1998 of the Ministry of Finance, the Ministry of Industry and the
General Department of Customs.
2. On capital for the
enterprise:
- When the need arises to invest
in building production establishments, the enterprise is eligible for the State�s development
investment credit loans from the Development Assistance Fund, the maximum
loaning period not exceeding 10 years for each separate loan. The borrowing
enterprise shall not have to mortgage its assets but cannot assign its
properties before paying up all the debts (principal and interest) for each
loan.
- Allocation of the full 30% of
working capital under norm for the enterprise directly producing color
television sets, the shortfall in working capital shall be covered by the State�s development
investment credits from the Development Assistance Fund corresponding with a
production cycle of the product.
- Assistance of the State
budgetary fund to scientific and technical research in projects of development
research after the project is approved.
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Reduction by 50% of land rent
during the period of implementation of the project.-