Should Why offer incentives to  Taiwanese-invested steel manufacturer Formosa Ha Tinh enjoys many attractive incentives and is asking for more preferences. The steel complex project, according to Tuoi Tre newspaper, has total investment capital of $10 billion, of which $4 billion has been disbursed. The Ha Tinh Economic Zone Management Board confirmed that 65 percent of the items of the complex, comprising a thermopower plant, port and steel plant, have been completed. The management board’s representative quoted According to The products, to be used for making car chassis, would target big automobile manufacturing centers in However, the production lines and the equipment to serve the production in According to the local customs agency, Formosa Ha Tinh began importing machines and equipment in 2010, while 90 percent of the imports were from A report of the agency showed that It also does not have to pay import tax on imports and has many other attractive privileges. Some experts said they cannot understand why A report of SEAISI, the South East Asia Iron and Steel Institute, showed that It warned that the existence of too many steel projects will lead to the more serious oversupply and stiffer competition among manufacturers. The experts also pointed out that while domestic steel manufacturers cannot enjoy preferences, they are facing big difficulties with high inventories, Formosa Ha Tinh has been offered many preferences. Dat Viet quoted its sources from the Ministry of Planning and Investment, saying that the ministry has recently asked the State Bank of This is one of the claims Formosa Ha Tinh has made recently. It has also asked for the exemption of rent for the land to be used to build dormitories and exemption of natural resource and environment taxes. Of the 17 proposals to Deputy Prime Minister Hoang Trung Hai so far, nine have got replies, five are being considered, while the other five were newly made. Professor Nguyen Dinh Luong, former Head of the Vietnamese Delegation to the negotiations for the Vietnam-US Bilateral Trade Agreement, commented that Dat Viet |
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