The number of private hospitals, including foreign-owned, is expected to rise sharply this year in light of the Government’s pledge for a series of measures to attract more investment into the sector. Ly Ngoc Kinh, head of the Ministry of Health’s Treatment Department, said 22 hospitals were established recently, including 10 by foreign investors, which heralded the possibility of an increased flow of investment into the health care sector this year. Two of the new facilities were wholly foreign owned. The government has, in fact, offered several incentives to the private sector to invest in the healthcare sector. For instance, individual investors are encouraged to invest in potentially profitable areas like general and specially hospitals, polyclinics and diagnostic centres. Private investment is also encouraged in many State-owned hospitals, especially in services like high-tech examinations that were often beyond these hospitals’ financial means. A land bank … [Read more...] about Incentives to attract more private hospitals in 2008
Incentives
Incentives for investment in Lang Son province
A two pronged strategy offering investment incentives and fast-track procedures was outlined on May 20 at an investment promotion conference in northern border Lang Son province. Deputy Prime Minister Truong Vinh Trong said the move was an opportunity to make full use of the province’s untapped potential and help the local people escape poverty. Duong Thoi Giang, the deputy chairman of the Lang Son People’s Committee, said in addition to the investment incentives applied nationwide, investors interested in pouring money into the impoverished province’s economic zones would enjoy a land lease tax as low as 1 percent of the normal rate. Giang said that investors would enjoy simplified business procedures as the province had instigated single-clearance at many of its public offices. The Department of Planning and Investment also began offering investors on-line registration and easier access to information. Keun-Hyung Park , senior deputy director of the Korea … [Read more...] about Incentives for investment in Lang Son province
Incentives pave way for Chinese goods to Vietnam
Chinese goods are penetrating into Vietnam in an increasingly professional and well-prepared way thanks to substantial support from the Chinese government’s policy of developing their export markets. “[The Chinese government] has been implementing a series of policies to support their home enterprises to ship their products to neighboring countries, among them Vietnam,” said Nguyen Lam Viet, chairman of Vinamit dried fruit manufacturer, who has just returned from a market study trip in China. “The incentives include tax refunds and preferential lending interest rates to encourage local businesses to increase their exports as much as possible.” Even Vietnamese companies opening representative offices in China are subject to the Chinese government’s incentives, added Vien. “If such companies buy Chinese raw materials and other goods for export, they can enjoy a zero interest lending rate for 30 percent of the contract value,” he … [Read more...] about Incentives pave way for Chinese goods to Vietnam
Official calls for tax incentives to assist firms
Local businesses should be assisted with tax deferrals or exemptions in order to overcome their hurdles and escape from the brink of bankruptcy, Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), told Tuoi Tre. The roots of businesses’ hardship, Loc said, are the exorbitant input costs and interest rates, while the outlets for their products are obstructed. Many manufacturers have good business plans, which can help them to develop and contribute more to the state budget, but only in case they are sufficiently supported, he said. For illustration purposes only Check out our Businesses on Brink of Bankruptcy series:>> Delta seafood firms, farmers in chain of debts>> Real estate brokerages switch to selling ... noodles>> Wood processor, handicraft firms in tough spot While many businesses are facing capital and liquidity shortages, they cannot access bank loans since they have failed to prove the effectiveness of their business … [Read more...] about Official calls for tax incentives to assist firms
Investment incentives fail to attract foreign capital
Changes in the world economy have positively impacted foreign investment in Viet Nam, but the country still needs to improve its investment climate to capitalise on this trend, experts said. Recent natural disasters in Thailand, Japan and China have caused investors, especially those in the electronic and manufacturing sectors, to move their resources to other countries, including Viet Nam. According to a recent survey of 346 respondents conducted by Nikkei Business Online, Viet Nam has the potential to attract significant investment from Japan, with 60 per cent responding that Viet Nam would be one of best places for new production facilities. However, Viet Nam's investment incentives were not sufficient to attract foreign capital and technology, said Ngo Van Tru, deputy head of the Heavy Industry Depart-ment under the Ministry of Industry and Trade (MOIT). He warned that slow progress on Vietnamese infrastructure construction would pose a challenge to attracting foreign … [Read more...] about Investment incentives fail to attract foreign capital