From July 25, investors in agricultural projects eligible for land use levy incentives will be exempt from this levy or entitled to a 70% or 50% reduction of the levy depending on areas in which their projects are implemented.
These investors, defined to be businesses founded and operating under Vietnamese law and satisfying conditions specified in Decree No. 61/2010/ND-CP of June 4, when renting land or water surface of households or individuals for implementing agricultural projects eligible for special investment incentives will receive state supports equal to 20% of the land or water surface rent for the first five years after completion of capital construction.
These projects will also have 50% of actual freights for domestic transportation of their products to trading places covered by state funds, which must not exceed VND 500 million per year.
Tiny businesses with agricultural projects will have 100% of their domestic job-training expenses, and 50%-70% of their expenses for advertisement in provincial-level mass media or for organization of domestic trade fairs or exhibitions paid by the State.
Research and development projects to create new technologies for agricultural development and trial production projects already approved will have their funds partially covered by the Science and Technology Development Assistance Fund at 50% and 30% respectively.-