Hanoi, October 25 (Engineering Daily) -- The Ninh Thuan province has been spurring its renewable energy projects to be the focus of the business in Vietnam. With the recent announcement of the Ninh Thuan People's Committee on the completion of four wind power projects in the region by this year, it has proved its purpose has been proceeding smoothly.
The power plants are Dam Nai wind power, Mui Dinh plant, Trung Nam plant, and Cong Hai plant in the Ninh Thuan province. By the end of September, Ninh Thuan had additional 15 solar power projects with a total designed capacity of 1,100 MW. The additional projects complement the existent plants in the region and they amount to 29 with the total capacity to be 1,938 MW. Furthermore, solar power plant construction has started on 16 projects which are expected to be finished before 2019 since the beginning of this year.
Aiming to become the country’s renewable energy hub, the province provides exemption for investors to accelerate the progress of renewable energy projects. Accordingly, investors operating in renewable energy will be exempted from land rent during the implementation of projects and from corporate income tax. The corporate income tax will be exempted for 4 years and cut by half for the nine following years. Additionally, their projects will also be exempted from tariffs on imported goods.
