As prescribed in Decree No. 118/2015/ND-CP dated November 12th, 2015 guiding the Law on Investment, the business lines eligible for investment incentives are mainly related to science, technology, electronics, mechanics, materials production, information technology; agriculture; environmental protection, infrastructure construction; education, culture, society, sports, healthcare and other business lines.
Recently, on March 30th 2020, the Government promulgated the Decree No. 37/2020/ND-CP updating the List of sectors and industries having access to investment incentives which is annexed to the Decree No. 118/2015/ND-CP. The new Decree was issued to supplement business and investment activities prescribed in the Law on Support for Small and Medium Enterprises to the List of sectors and industries having access to investment incentives that is given in Annex I of the Decree No. 118/2015/ND-CP dated November 12th 2015, including:
– Investment in supply chains of small and medium enterprises;
– Investment in business of incubation of small and medium enterprises;
– Investment in business of technical establishments supporting small and medium enterprises;
– Investment in business of co-work spaces for small and medium startup enterprises.
Four (04) above mentioned business lines eligible for investment incentives are added to ensure adherence to regulations laid down in the Law on Support for Small and Medium Enterprises 2017, specifically at Point a, Clause 1, Article 33 on amending and supplementing certain articles of Law on Investment.
Decree No. 37/2020/ND-CP is entering into force on May 15th 2020.