(MPI) - The Ministry of Planning and Investment led in developing the decree on the establishment, management, and use of the Investment Support Fund following the assignment. To refine the draft, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc chaired a semincar to gather opinions from business associations and FDI enterprises on March 5.

Overview of the meeting. Photo: MPI

At the 6th session of the 15th National Assembly, the legislature agreed and assigned the Government to draft the decree in 2024 on the establishment, management, and use of the Investment Support Fund from the corporate income tax revenue supplemented according to the global tax base erosion rules and other lawful sources.

The draft discussed at the seminar is structured into 4 chapters and 22 articles, detailing the establishment, management, and use of the Investment Support Fund; applicable to the Investment Support Fund, enterprises established under Vietnamese law, and related organisations and individuals; the Investment Support Fund is a non-budgetary state financial fund, operating not for profit, with the function of supporting investment, encouraging, and attracting investment in Vietnam and established by the Prime Minister.

The Fund operates on a non-profit basis and is responsible within its support scope. It supports the correct subjects and conditions as regulated in this decree. The operational goal is to stabilise the investment environment, encourage and attract strategic investors, multinational corporations, and support domestic enterprises in certain sectors that require investment encouragement.

Regarding the draft decree, delegates believed that this is a challenging content and, if issued, will contribute to stabilising the investment climate and seeking investment that require encouragement. They also spoke highly of the decree’s spirit of no discrimination between different types of enterprises.

Delegates also focused on specific contents of the draft such as scope, conditions and supported subjects; criteria and conditions for each project; support forms; investment support procedures; investment incentive and support principles.

Deputy Minister Ngoc affirmed that the MPI always wishes to receive opinions to research and complete the draft with the goal of making the decree feasible, practical, and creating a favorable business investment environment for enterprises./.

Bao Linh

Ministry of Planning and Investment