FDI sector helped to overcome difficulties

08:08 | 03/09/2014

VGP – A number of measures have been deployed to assist FDI enterprises to overcome difficulties.

Illustration photo

Regarding labor and salary, the Government covers 70% of the salary paid to laborers of companies affected by recent anti-China protests.

The affected enterprises are allowed to employ foreign technicians who meet one of the two conditions: Having at least one-year professional training or at least three-year working experience in the field that they are expecting to work in Viet Nam. This regulation is applicable within two years since May 13, 2014.

These enterprises have to submit lists of to-be-employed laborers together with explanatory reports to the provincial People’s Committees for approval within seven working days.

For tax and insurance, in principle, enterprises, which could not resume production since July 2, 2014 and their products are for domestic consumption, will be exempted from import tax on end-products and semimanufactured products since the day they were affected until 2014. The Mininistry of Finance will provide detailed instructions on the issue.

For affected enterprises which have to restart investment, investment agencies consider granting new investment certificates in accordance with legal stipulation on new investment projects.

Enterprises whose factories were burned and have to find other temporary facilities to restore production will be considered for having other locations or rental charges assistance by the provincial People’s Committees.

Regarding credit, affected enterprises are allowed to borrow foreign currency to resume production until May 13, 2016. The State Bank of Viet Nam will provide detailed instructions.

For visa, the Ministry of Public Security will consider granting six-month visas for foreign laborers recruited by foreign enterprises.

Enterprises have to submit list of foreign laborers to the Immigration Department under the Ministry of Public Security for approval. This visa policy is applicable to June 30, 2016./.

By Huong Giang