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Gov't backs investment in industrial, craft village clusters


Gov't backs investment in industrial, craft village clusters

Government Decree No 68/2017/NĐ-CP contains several policies to support investment in industrial and craft village clusters. - VNA/VNS Photo

Decree No 68/2017/NĐ-CP calls for providing investment projects preferential credit of up to 70 per cent of cost.

Projects in industrial clusters are exempted from land rents for seven years, which goes up to 11 years for technical infrastructure projects.

In craft village clusters, projects are exempt for 11 years and 15 years.

Local budgets will support the relocation of enterprises, co-operatives, households and individual-owned businesses from craft villages to craft village clusters.

The central and local budgets will prioritise support for technical infrastructure in craft village clusters.

The decree takes effect on July 15 this year.

Source VNA