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Saturday, June 15, 2024

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Who will benefit from Investment Support Fund?

According to the draft of a Government decree, the planned Investment Support Fund, which is mainly sourced from global minimum tax revenue, would provide cash assistance to two groups of businesses involved in research and development (R&D) and high-tech goods manufacturing. Aid for two groups of businesses In a resolution following its October 2023 session, the National Assembly tasked the Government with drafting a decree this year to establish, manage, and operate an Investment Support Fund mainly financed by global minimum tax revenue and other legal sources. The purpose is to stabilize the investment environment, retain and attract strategic investors and multinational corporations, and support domestic enterprises in sectors where investment is encouraged. To fulfill this task, the Government, through the Ministry of Planning and Investment (MPI), has drafted a decree and is currently gathering feedback on the draft. The MPI said that the Investment Support Fund would not directly assist businesses affected by the global minimum tax but would improve the investment environment and focus on priority investment sectors in Vietnam. According to the draft decree, the Investment Support Fund is a state entity under either the Ministry of Finance or the MPI. The fund would be sourced from […]
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