Vietnam’s Vung Ro oil refinery project set to have 0% tax rate

Chairman of Provincial Peoples’ Committee, Pham Dinh Cu, and Prime Minister Nguyen Tan Dung have signed a deal approving a 0% tax rate for petroleum and sulfur products of Vung Ro oil refinery project.
In addition, the government will also support Phu Yen Province with implementing infrastructure projects within the plant vicinity. Phu Yen Province will actively mobilize resources to build these infrastructure projects.
The Vung Ro oil refinery project, with an annual capacity of 8 million tons and a total investment of nearly USD3.2 billion, is expected to start in 2013. Once online, it is expected to contribute about USD110 million to the state budget, creating jobs for 1,300 workers.
(August 9, 2013)