According to Decision No. 11/2017 / QD-TTg, organizations and individuals participating in the development of solar power projects are entitled to investment, tax and land incentives.
According to Decision No. 11/2017 / QD-TTg, organizations and individuals participating in the development of solar power projects are entitled to investment, tax and land incentives.
Specifically, organizations and individuals involved in the development of solar power projects are legally mobilized from domestic and foreign organizations and individuals to invest in the implementation of solar power projects in accordance with the provisions of Current law.
Solar projects are exempted from import duties on imported goods to create fixed assets for the project; To comply with the current provisions of law on export tax and import tax on goods imported for production of projects being raw materials, supplies and semi-finished products which can not be produced at home.
The exemption and reduction of corporate income tax for solar power projects is the same as for projects in the field of investment incentives in accordance with current tax laws.
Exemption and reduction of land use fees
On land preference, the Decision stipulating solar power projects, transmission lines and transformer stations for connecting to electricity grids shall be exempt from or reduce land use fees, land rents and water surface rents as prescribed. The current legislation applicable to projects in the field of investment incentives.
Based on the planning approved by competent authorities, the provincial people's committees create conditions for arranging land funds for investors to carry out solar power projects. Compensation and support for ground clearance shall be implemented in accordance with the current land legislation.
The decision specifying that organizations and individuals investing in the construction of solar power projects, which are responsible for installation of solar power equipment, must ensure the safety of structures and work safety according to current regulations.
The investment in the construction of solar power projects shall comply with the current law provisions on investment, construction, fire prevention and fighting, environmental protection and other relevant regulations.
With Vietnam's economic development over the past decade, demand for electricity has increased by about 15% annually, according to estimates by energy experts. However, the current source of electricity in our country is mainly thermal power and hydro power, while renewable energy sources such as solar or wind power have great potential.
Currently, there are two large solar power plants under construction in Vietnam: Tianjin and Tuy Phong.
On 29/8/2015, the Tianjin Solar Photovoltaic Project invested by Tianjin Investment and Construction Joint Stock Company was officially started construction, the factory has capacity of 19.2 MW with a total investment of 800 billion, was built on an area of 24 hectares in Dam Thuy Village, Duc Minh Commune, Mo Duc District, Quang Ngai Province with domestic and foreign loans. The project is operated by Full Advantage Co., Ltd.
By early January 2016, the provincial Department of Industry and Trade of Binh Thuan province said that the provincial government has just licensed the investment project of Tuy Phong solar power plant for DooSung Vina Co., Ltd. with a total investment of about $ 66 million.
Tuy Phong solar power plant will be built on an area of nearly 50 hectares in Vinh Hao commune, Tuy Phong district with a capacity of 30 MW with a total investment of VND1,454 billion (US $ 66 million) expected. Construction will start mid-year and start generating electricity from 2017.