(MPI) - On the afternoon of December 11, 2024, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc attended a meeting of the National Assembly Standing Committee to give opinions on the draft Decree regulating the establishment, management and use of the Investment Support Fund. The meeting took place under the chairmanship of Vice Chairman of the National Assembly Nguyen Duc Hai.
Speaking at the meeting, Deputy Minister Nguyen Thi Bich Ngoc said that the draft Decree has 06 Chapters and 45 Articles. The issuance of the Decree is extremely necessary to promptly concretize the orientations and policies of the Party and State on investment incentive policies; consolidate Vietnam's competitive position in the context of many changes in the international context, increase the effectiveness of the policy system on investment incentives and support; stabilize the investment environment; ensure competitiveness and attractiveness to attract strategic investors, domestic and foreign multinational corporations to invest in a number of fields that need investment incentives, especially the high-tech field.
Regarding the subjects of application, the Decree regulating the establishment, management and use of the Investment Support Fund applies to the Fund, enterprises established and operating under Vietnamese law that meet the criteria and conditions in this Decree and agencies, organizations and individuals related to the establishment, management and use of the Investment Support Fund.
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| Deputy Minister Nguyen Thi Bich Ngoc speaks. Photo: Quochoi.vn |
Subjects eligible for investment support include: High-tech enterprises; Enterprises with investment projects to produce high-tech products; Enterprises with high-tech application projects; Enterprises with investment projects in research and development centers. Criteria for determining high-tech enterprises and enterprises with high-tech application projects are currently stipulated in the law on high technology.
Therefore, the application of support for this subject will not cause disruption compared to current regulations. In line with Vietnam's orientation of attracting foreign investment, contributing to enhancing Vietnam's long-term position in the international supply chain, especially in high-tech industries that are new trends in the world such as semiconductors and artificial intelligence; promoting the establishment of research and development centers (R&D) in Vietnam to improve the original technology platform and develop science and technology human resources in Vietnam. Focusing resources to attract investment in a number of priority areas; avoiding widespread incentives, creating breakthroughs to ensure Vietnam's competitive position, minimizing the impact on the State budget.
At the meeting, delegates agreed on the need to issue a Decree regulating the establishment, management and use of the Investment Support Fund; at the same time, focusing on contributing opinions to the draft Decree regulating the establishment, management and use of the Investment Support Fund. Members of the National Assembly Standing Committee said that the use of the Fund needs to ensure transparent implementation of policies; specific on the subjects and levels of support, avoiding the emergence of a request-grant mechanism leading to complaints...
Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientations for perfecting institutions and policies, improving the quality and effectiveness of foreign investment cooperation by 2030 and Decision No. 667/QD-TTg dated June 2, 2022 of the Prime Minister approving the Foreign Investment Cooperation Strategy for the period 2021-2030 have set out the tasks of innovating investment incentive mechanisms and policies; building and supplementing incentive mechanisms for enterprises operating effectively and fulfilling their commitments; distinguishing incentives between different investment sectors and professions; building outstanding incentive institutions and policies, international competition to create favorable business conditions to attract large, key national projects, high-tech projects..., attracting strategic investors, multinational corporations to invest, set up headquarters and establish research and development (R&D) centers.
Resolution No. 110/2023/QH15 of the National Assembly: "Agreeing in principle, assigning the Government in 2024 to develop a draft Decree on the establishment, management and use of the Investment Support Fund from additional corporate income tax revenue according to regulations on preventing global tax base erosion and other legal sources to stabilize the investment environment, encourage and attract strategic investors, multinational corporations and support domestic enterprises in a number of areas requiring investment incentives, reporting to the National Assembly Standing Committee for comments before promulgation...".
Conclusion No. 97-KL/TW dated October 5, 2024 of the 10th Conference of the 13th Party Central Committee on socio-economic development in 2024-2025 sets out the tasks and solutions: "supplementing, perfecting and removing obstacles in the legal system, best meeting the requirements of innovation and creativity, creating breakthroughs in national development in the new situation" (Section II.1). General Secretary To Lam at the opening session of the 10th session of the 15th National Assembly on October 21, 2024 set out requirements for law-making work, accordingly: "Stick closely to reality, stand on the ground of Vietnamese reality to build appropriate legal regulations; learn from experience while doing; do not be hasty, but also do not be perfectionist, so as not to miss opportunities; Taking people and businesses as the center, the subject... proactively detects and quickly removes "bottlenecks" caused by legal regulations"./.
Source: https://www.mpi.gov.vn/portal/Pages/2024-12-12/Minister-Nguyen-Thi-Bich-Ngoc-tham-du-cuoc-hop-ve2lkfh.aspx
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