Investment and business costs

1. Land price: (According to Decision No 36/2011/QD-UBND dated August 01, 2011 of Nghe An Provincial People’s Committee on land, water surface rent prices in the  area of Nghe An Province)

* Land price frame:

- Price frame (the maximum and minimum price level) applied for specific categories of land in the province must be within the price frame regulated by the Government. The Provincial People’s Committee (PPC) has the power to raise a maximum of 20% this price compared to the maximum price level and to reduce a maximum of 20% this price compared to the minimum price level of the same kind of land price frame.

- Price of non - agricultural land used for production and business purposes: accounts for 70% the price of residential land in the same condition; the price of land used for mining is by 300% the price of residential land but must be exceeded the maximum price of land for business regulated by the Government. Price of non - agricultural land used for production and business purposes along the main roads, in trade and tourism areas and industrial parks shall not exceed three times the maximum price level of the same kind of land in rural areas under the provisions of the Government.

* Land rental price:

Land rental price is based on the percentage (%) of the land price (đ/m2) issued by the Provincial People’s Committee on the first day of January every year for the purpose of using the land. Land used for purpose of agricultural, forestry production, fishery farming, salt production; land used for purpose of production and business of the projects entitled to sectors and geographical areas of investment incentive shall be applied for following percentage (%):

     - Land of Vinh city: 0.83 %;

     - Land of Cua Lo town: 0.81 %;

     - Land of Thai Hoa town, plain districts and communes: 0.79 %;

     - Land of low mountainous districts and communes: 0.77 %;

     - Land of island, high mountainous districts and communes, communes along border line and extremely difficult communes: 0.75%

2. Electricity and water supply prices:

2.1. Electricity retail price: (According to Circular No 38/2012/TT- BCT of  September 20th 2012 issued by Ministry of Industry and Trade)

Retail electricity prices for production are as follows::

Order No

Applied Objects

Unit electricity price (VND/kWh)

1

Voltage of 110 kV up

 

 

a) Normal hours

    1.217  

 

b) Low hours

       754  

 

c) Peak hours

    2.177  

2

Voltage from 22 kV to less than 110 kV

 

 

a) Normal hours

    1.243  

 

b) Low hours

       783  

 

c) Peak hours

    2.263  

3

 Voltage from 6 kV to less than 22 kV

 

 

a) Normal hours

    1.286  

 

b) Low hours

       812  

 

c) Peak hours

    2.335  

4

Voltage less than 6 kV

 

 

a) Normal hours

    1.339  

 

b) Low hours

       854  

 

c) Peak hours

    2.421  

            Customers buying electricity at the Voltage 20kV are applied as the price at the Voltage from 22kV to less than 110kV.

Retail electricity prices for bussiness as follows:

STT

Applied Objects

Unit electricity price (VND/kWh)

1

Voltage from 22 kV up

 

 

a) Normal hours

    2.004  

 

b) Low hours

    1.142  

 

c) Peak hours

    3.442  

2

Voltage from 6 kV to less than 22 kV

 

 

a) Normal hours

    2.148  

 

b) Low hours

    1.286  

 

c) Peak hours

    3.557  

3

Voltage less than 6 kV

 

 

a) Normal hours

    2.177  

 

b) Low hours

    1.343  

 

c) Peak hours

    3.715  

- Electricity prices regulated depending on the time using electricityas follows:

1. Normal hours

a) Including days from Mondays to Saturdays

- From 04h00 to 9h30 (05 hours and 30 minutes);

- From 11h30 to 17h00 (05 hours and 30 minutes);

- From 20h00 to 22h00 (02 hours).

b) Sundays

From 04h00 to 22h00 (18 hours).

2. Peak hours

a) Including days from Mondays to Saturdays

- From 09h30 to 11h30 (02 hours);

- From 17h00 to 20h00 (03 hours).

b) Sundays: no peak hours

3. Low hours

All days of the week: from 22h00 to 04h00 of the next day (06 hours).

2.2. Water supply price (in 2012):

     - For  production:                     8,500 VND/m3

     - For service activities:             10,500 VND/m3

     - For household consumption: 5,500 VND /m3

     - For office consumption:        7,800 VND/m3

3. Provisions on labour

3.1. The minimum salary for employees working in Vietnamese enterprises  ( local enterprises and foreign invested capital enterprises ) in the area of Nghe An Province according to Decree No. 103/2013 / ND-CP dated 04/12/2012 of the Government)

- VND 1,800,000/head/ month  applied for enterprises operating in the area of Vinh City.

-  VND 1,650,000/head/ month applied for enterprises operating in the remaining areas.

Salary for trained workers (including those trained by enterprises themselves) must be of at least 7% higher compared with minimum salary mentioned above

3.2. Granting of work permits for foreigners (According to the Labour Law dated 23/06/1994; Law on amending and supplementing some articles of the Labour Law dated 02/4/2002, and Decree No. 34/2008 / ND-CP dated 25/03/2008 of the Government’s regulations on recruitment and management of foreigners working in Vietnam)

Article 3. Foreigners working in Vietnam must satisfy the following conditions (Decree No. 34/2008/ND-CP)

1. To be 18 years or older;

2. Healthy enough in accordance with job requirements;

3. Should be as a manager, executive or specialist as defined in Clause 2 and Clause 3 of Article 2 of this Decree;

For foreigners who would like to practice medication, private pharmaceutical, direct examination and treatment in Vietnam or working in the fields of education, vocational training must meet the conditions regulated by Vietnam laws on medical, pharmaceutical, or private education and vocational training.

4. To have no criminal offense of violating national security, not being prosecuted for criminal responsibility, serving criminal punishment regulated by Vietnam laws and foreign ones.

5. To have work permits issued by competent state offices of Vietnam, except for cases that do not require work permits provided for in Clause 1, Article 9 of this Decree.

3.3. Labour contracts

The employers and employees may sign the following types of contracts:

1. Labour contracts are indefinite period contracts in which two parties can not determine the duration, time of termination of contracts or contracts with term of over 36 months.

2. Labour contracts are indefinite term contracts in which both parties determined time limit, the time of termination of  contract period with term of 12 months to 36 months.

3. Contracts for seasonal work or at a certain period with term less than 12 months.

3.4. Health and social insurance for Labourers

Labourers working under labour contracts with a term of 03 months up and with the labour contract not specifying the time in businesses, agencies, and organizations must be paid for social insurance and health insurance.

Premium level of compulsory social and health insurance as follows:

- The employer, contributed by 15% compared with the total wage fund for social insurance and 2% of total salary fund for health insurance.

- The labour and social insurance premiums by 5% monthly salary and health insurance premiums by 1% monthly salary.

 

 
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Source: yahoo.com