Mr. Nguyen Tuan Thanh, Permanent Vice Chairman of Binh Dinh Provincial People's Committee, emphasized this at a meeting with businesses and investors in Ho Chi Minh City organized by Binh Dinh Provincial People's Committee in coordination with Ho Chi Minh City Business Association (HUBA) on the afternoon of February 21.

At the meeting, Mr. Nguyen Tuan Thanh said that in 2024, Binh Dinh's GRDP growth rate will reach 7.78%, ranking 26/63 nationwide and 2/5 in the Central Central sub-region. Total state budget revenue will reach over 16,000 billion VND.

The locality is focusing on completing the infrastructure system, especially the transport infrastructure, with the spirit of "transportation goes first, paving the way". Planning and attracting investment in Phu My Port Area, upgrading Phu Cat Airport into an international port.

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Mr. Nguyen Tuan Thanh - Permanent Vice Chairman of Binh Dinh Provincial People's Committee, spoke at the event. Photo: BD

Binh Dinh is also determined and takes the lead in reforming administrative procedures, simplifying procedures on investment, construction, tax and customs.

"Binh Dinh's index of serving people and businesses achieved excellent scores and ranked first in the country. The Provincial Competitiveness Index (PCI) ranked 25th out of 63 provinces and cities and was among the 30 localities assessed to have the best economic management quality in 2023," Mr. Thanh shared.

According to Mr. Nguyen Tuan Thanh, Binh Dinh is one of the localities with the fastest time to process procedures from investment licensing to construction in the country, 124 days shorter than the regulation (242 days).

The province aims that by 2025, indexes such as PAPI, SIPAS, PAR INDEX and PCI will increase in points, ranking in the top 20 leading localities nationwide.

Regarding the orientation of investment attraction fields, the Vice Chairman of Binh Dinh province wishes to invite investors with modern technology, environmentally friendly, efficient use of resources, and products with competitive advantages.

At the same time, Binh Dinh commits that investors will enjoy the highest incentives according to Government regulations and additional incentives from the province on land rent, tax rates, corporate income tax, import tax, etc.

For example, when investing in Binh Dinh and Nhon Hoi Economic Zone, especially Becamex VSIP Industrial - Urban and Service Park, investors will be exempted from tax on imported goods; enjoy a tax rate of 10% for 15 years from the date the project starts operating, exempted for 4 years from the date of taxable income and reduced by 50% of the tax payable for the next 9 years.

Exemption from land rent during the basic construction period according to the approved project but not exceeding 3 years from the date of the land lease decision. After the basic construction period, land rent will continue to be exempted for the entire lease term.

When investing in other areas of the province, depending on the industry, investors will enjoy incentives such as exemption from land rent for a number of years, reduced tax rates and exemption from corporate income tax for a number of years, exemption from import tax to create fixed assets...

"Investors will have all their problems resolved as quickly as possible through the Hotline and the Special Working Group of Chairman of the Provincial People's Committee Pham Anh Tuan. With the online processing method immediately upon receiving information and regular direct meetings every Monday morning, chaired by the provincial chairman," Mr. Nguyen Tuan Thanh emphasized.