The project, titled “Building a Modern Manufacturing Facility in Binh Dinh to Produce High-Quality Diagnostic Test Kits Using Canadian Technology,” boasts a projected investment of 10-20 million USD.
Signing Ceremony Programme. Photo: L.A
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Gene Bio Medical (GBM), a leading biotechnology company in British Columbia, Canada, specializes in molecular diagnostics and innovative healthcare solutions. They develop advanced diagnostic tools that meet the needs of patients and healthcare providers globally.
Notably, GBM is also a pioneer in researching and developing advanced diagnostic platforms, including mRNA-based detection and BioChip multi-primer technologies. During the COVID-19 pandemic, they supplied the Canadian government with over 48 million high-quality rapid test kits for SARS-CoV-2.
At the meeting, the organizers presented GBM’s investment plans and proposals for Binh Dinh Province, including a joint venture investment project between GBM and Bidiphar, as well as the province’s policies and incentives for foreign investors.
Canadian businesses and investors will benefit from favorable conditions to ensure the project’s success and sustainable development. Specifically, enterprises will be subject to a 10% income tax rate for the first 15 years, with a tax exemption for the first four years of taxable income and a 50% reduction in payable taxes for the next nine years. This is a significant concession, as the standard corporate income tax rate is 20%.
Investors will also be exempt from import tax for the first five years of production on raw materials and semi-finished products that Vietnam cannot produce or produce to the required quality standards. Depending on the industry and investment incentives, special privileges may include exemptions on land rent for several years, reduced tax rates, and exemptions on corporate income tax and import tax for fixed asset creation when investing in other areas of the province.
According to the Binh Dinh Department of Planning and Investment, the province is home to 94 FDI projects with a total registered capital of nearly 1.4 billion USD. Of these, 44 projects are located in economic and industrial zones, with a total registered capital of over 1.1 billion USD, while 50 projects are outside these zones, with a total registered capital of nearly 255 million USD.
Currently, there are two projects invested by Canadian companies (SELDAT Vietnam Co., Ltd.) with a total registered capital of approximately 2.7 million USD. These include the Seldat Vietnam Garment Factory in An Hoa, Nhon Khanh, An Nhon Town (with a registered capital of about 1.2 million USD) and the Garment Factory – TDP1 in Tan Duc Industrial Cluster, Nhon My, An Nhon Town (with a registered capital of about 1.5 million USD and a capacity of 22 million products per year).
– 14:56 26/02/2025
