Haiphong discounts land lease fee for investors in 2023

November 23, 2023 | 15:59

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Haiphong will discount 30 per cent of the land lease fee for investors investing in projects in Dinh Vu-Cat Hai Economic Zone.

On November 20, Haiphong Economic Zones Management Authority office issued the document guiding the implementation. The policy is being introduced following a prime ministerial decision issued on October 3 on reducing land rental fees in 2023.

The reduction in land use fees will benefit organisations, units, enterprises, households, and individuals who directly lease land from the state under state agency decisions or contracts and make rent payments annually.

Land rent reductions totalled VND3.5 trillion ($149.33 million) last year.

Earlier this year, the Ministry of Finance proposed the prime minister extend the temporary 30 per cent reduction on land use fees throughout 2023 as part of measures to help businesses and individuals overcome the ongoing difficulties.

Dinh Vu - Cat Hai EZ covers a total area of 22,540 hectares and combines many industrial parks, such as VSIP Hai Phong, MP Dinh Vu, Dinh Vu, Trang Due, and Nam Dinh Vu.

Most are operating in electronics manufacturing, vehicle manufacturing, mechanics, chemical, pharmaceuticals, garments and footwear, logistics, and infrastructure.

LG Display Haiphong is the largest foreign-invested project in Dinh Vu – Cat Hai EZ with an investment of $4.64 billion.

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