The prime minister issued a statute on business activities in Dung Quat economic zone (Quang Ngai central province). Under the above statute, Overseas Vietnamese (Viet Kieu) will be permitted to buy residential houses in Dung Quat Special Economic Zone.
In addition, any foreigner or foreign investor that resides permanently in Vietnam will be allowed to buy any residential houses and be entitled to land lease rights in the economic zone.
Overseas Vietnamese (Viet Kieu), foreigners and foreign organisations or foreign invested organisations will be also permitted to invest and construct residential houses or houses for rent there.
For every investment project of a business in the Dung Quat Special Economic Zone, the business will be entitled to pay 10% corporate income tax (CIT), which is one of the preferential tax policies for 15 years from the operational year of the investment project.
Especially, if an investor has any investment projects there, the investor will be exempted from CIT for four-years from the time the taxable income of the investor occurs and 50% of amount of the CIT payment will be reduced for nine following years.