|
THE PRIME
MINISTER
-------
|
SOCIALIST
REPUBLIC OF VIETNAM
Independence- Freedom- Happiness
------------
|
|
No.194/1999/QD-TTg
|
Hanoi,
September 23, 1999
|
DECISION
ON FINANCIAL TREATMENT FOR A NUMBER OF SUGAR
PLANTS
THE PRIME MINISTER
Pursuant
to the Law on Organization of the Government of September 30, 1992;
At the proposals of the Ministry of Agriculture and Rural Development (Official
Dispatch No.2813/BNN-TCKT of August 5, 1999), the Ministry of
Planning and Investment (Official Dispatch No.5613/BKH/NN of August 25, 1999),
the Ministry of Finance (Official Dispatch No.4205-TC/TCDN of August 24, 1999
and Official Dispatch No.4217-TC/DTPT of August 25, 1999 and the State Bank of
Vietnam (Official Dispatch No.776/CV-NHNN14 of August 23, 1999);
In order to create conditions for a number of sugar plants to develop
production, reduce their production costs, sell their products, pay debts and
do business efficiently,
DECIDES
Article 1.- To exempt and/or reduce levy
on land user for plant construction, enterprise income tax, import tax,... for
a number of sugar plants in accordance with the Domestic Investment Promotion
Law (amended) No.03/1998/QH10 of May 20, 1998, the Government's Decree
No.51/1999/ND-CP of July 8, 1999 detailing the implementation of the Law on Domestic
Investment Promotion (amended).
The Ministry of Planning and Investment shall
assume the prime responsibility and coordinate with the ministries, branches
and localities in granting investment preference certificates to the above-said
plants for implementation.
Article 2.- The Ministry of Finance shall
make sum-up report and submit it to the Government for amendment and/or
supplement to the Decree which guides the implementation of Value Added Tax
(VAT) Law along the direction of allowing 50% reduction of VAT for sugar
products and applying VAT rate of 0% (zero per cent) to products made of
discarded materials and/or by-products of sugar plants (microbiological
fertilizers, pressed boards, animal feed, mushrooms, alcohol, electricity,...
with cane's remains, sludge residues, leaked molasses being used as raw
materials).
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
For commercial interest rate loans used for
investment (including compulsory loan debts) and loans for further investment
to complete the projects, the monthly interest rate of 0.81% shall also apply
from January 1, 1998 to the end of December 31, 1999 and the interest rate
stipulated in Decree No.43/1999/ND-CP of June 29, 1999 on the State's
development investment credits shall apply as from January 1, 2000. The
difference between the commercial interest rate and this interest rate shall be
offset by the State budget for the sugar plants under the concrete guidance of
the Ministry of Finance.
Lending organizations shall base themselves on
capital recovery possibility and actual debt repayment capability of each
plant, after giving priority to repayment of foreign loans according to lending
contracts, to adjust lending terms for the sugar plants on the principle of
taking into full and accurate account the factors affecting loans debt
repayment and the project efficiency, but the lending terms must not exceed 12
years including the 5-year grace period for credit loans under the State's
plans, and not exceed 15 years including the 7-year grace period for the loans
from the Asian Development Bank (ADB).
Article 4.- The difference increase in
the value of the imported equipment due to fluctuation of the exchange rate
between US dollar and Vietnam dong shall be considered for support in
accordance with the principles stipulated at Point e, Article 2 of Decision
No.802/TTg of September 24, 1997 of the Prime Minister on solving the existing
problems in opening letters of credit; the Ministry of Finance is assigned to
inspect and determine the specific arising loss amount incurred due to exchange
rate risk to report it to the Prime Minister for decision.
Article 5.- The Ministry of Finance shall
provide working capital for the sugar plants to operate from 1999 on according
to current regulations.
Article 6.- This Decision applies only to
a number of sugar plants on the list enclosed herewith and take effect after
its signing.
Article 7.- The Minister of Agriculture
and Rural Development, the Minister of Planning and Investment, the Minister of
Finance, the Governor of the State Bank of Vietnam, the presidents of the
People's Committees of the provinces having sugar plants and the heads of the
concerned agencies shall have to implement this Decision.
FOR THE
PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
LIST OF SUGAR COMPANIES AND PLANTS
(Issued together with Decision No.194/1999/QD-TTg of September 23, 1999)
Ordinal
number
Names of
newly-established sugar companies and plants
In provinces
1
Tuyen Quang Sugar Cane and Sugar Company
Tuyen Quang
2
Son Duong Sugar Company, Tuyen Quang (Sugar
Cane and Sugar Corporation No.I)
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
3
Linh Cam Sugar Company (Sugar Cane and Sugar
Corporation No.I)
Ha Tinh
4
Cao Bang Sugar Cane and Sugar Company
Cao Bang
5
Son La Sugar Cane and Sugar Company
Son La
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Hoa Binh Sugar Cane and Sugar Company
Hoa Binh
7
Viet Tri Sugar-Liquor-Beer Company (Sugar Cane
and Sugar Corporation No.I)
Phu Tho
8
Nong Cong Sugar Company (Sugar Cane and Sugar
Corporation No.I)
Thanh Hoa
9
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Thanh Hoa
10
Song Con Sugar-Liquor Enterprise (Nghe An
Sugar Cane and Sugar Company)
Nghe An
11
Quang Binh Sugar Company (Sugar Cane and Sugar
Corporation No.I)
Quang Bimh
12
Quang Nam Sugar Plant (Food and Foodstuffs
Industry Company)
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
13
Expanded Quang Ngai Sugar Plant (Quang Ngai
Sugar Company)
Quang Ngai
14
Nam Quang Ngai Sugar Plant (Quang Ngai Sugar
Company)
Quang Ngai
15
Binh Dinh Sugar Company
Binh Dinh
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Tuy Hoa Sugar Cane and Sugar Company (Sugar
Cane and Sugar Corporation No.II)
Phu Yen
17
Cam Ranh Sugar Plant (Khanh Hoa Sugar Company)
Khanh Hoa
18
Ninh Hoa Sugar Plant (Khanh Hoa Sugar Company)
Khanh Hoa
19
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Binh Thuan
20
Kon Tum Sugar Cane and Sugar Company
Kon Tum
21
Dak Lak Sugar Cane and Sugar Company
Dak Lak
22
Sugar Cane and Sugar Company No.333 (Vietnam
Coffee Corporation)
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
23
Tri An Sugar Cane and Sugar Company
Dong Nai
24
Tay Ninh Crude Sugar Plant (Bien Hoa Sugar
Company)
Tay Nimh
25
Ben Tre Sugar Company
Ben Tre
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Phung Hiep Sugar Plant (Can Tho Sugar Cane and
Sugar Company)
Can Tho
27
Vi Thanh Sugar Enterprise (Can Tho Sugar Cane
and Sugar Company)
Can Tho
28
Soc Trang Sugar Cane and Sugar Company
Soc Trang
29
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Kien Giang
30
Thoi Binh Sugar Company
Ca Mau