In 2026, Vietnam’s investment legal framework entered a new phase as the Law on Investment 143/2025/QH15 took effect on 1 March 2026, replacing the Law on Investment 61/2020/QH14. One of the most closely watched features by strategic investors and large-scale projects is the regime of special investment incentives and support. This is not the standard incentive regime applied broadly by sector or location — it is a tailored mechanism for each qualifying mega-project meeting very high capital thresholds.
This article summarizes the eligibility conditions and application procedures for special incentives under the Law on Investment 143/2025 and Decree 96/2026/ND-CP, the guiding decree. All figures below are cited strictly from the finalized legal sources; any point still requiring verification against the Official Gazette is flagged explicitly rather than inferred.
Legal framework for special incentives
Special investment incentives and support are provided for in Article 17 of the Law on Investment 143/2025/QH15, creating the legal basis for applying higher, more flexible incentive levels than the ordinary regime for projects of very large scale with significant socio-economic spillover. Detailed rules are set by the Government in Decree 96/2026/ND-CP: Article 21 governs capital thresholds, disbursement levels and commitments, while Article 24 governs application procedures. On the tax side, the Law on Corporate Income Tax 67/2025/QH15 prescribes the tax rates and incentive periods applicable to special-incentive projects.
The core distinction from ordinary incentives: the specific incentive level and duration for each project are decided by the Prime Minister. In other words, the law does not fix a single uniform incentive rate for all large projects; each project is assessed individually, based on its capital scale, disbursement schedule, investor commitments and expected socio-economic impact.
Three capital and disbursement thresholds under Article 21 of Decree 96/2026
Article 21 of Decree 96/2026 sets the investment capital thresholds and minimum disbursement levels a project must meet to be considered for special incentives. There are three tiers:
Tier 1: capital of VND 3,000 billion
Projects with total investment capital of VND 3,000 billion or more, with a minimum disbursement of VND 1,000 billion within 3 years as prescribed.
Tier 2: capital of VND 6,000 billion
Projects with total investment capital of VND 6,000 billion or more, required to disburse the full VND 6,000 billion within 5 years. This tier demands the highest disbursement commitment in proportional terms (100% of registered capital within 5 years), suited to very large infrastructure, energy and industrial projects.
Tier 3: capital of VND 30,000 billion
Projects with total investment capital of VND 30,000 billion or more, with a minimum disbursement of VND 10,000 billion within 3 years. This is the highest tier, reserved for mega-projects with exceptionally large impact on national or regional socio-economic development.
Investors should note: meeting the capital and disbursement thresholds is a necessary but not sufficient condition. Whether a project actually receives special incentives, and at what level and duration, depends on the Prime Minister’s decision in each specific case.
Application procedure (Article 24 of Decree 96/2026)
Under Article 24 of Decree 96/2026, special investment incentives and support are implemented through a written agreement between the investor and the competent state agency. This is a key procedural difference from ordinary incentives (which are typically applied automatically upon meeting conditions):
- The investor proposes the application of special incentives, with documents proving the project meets the capital, disbursement and commitment thresholds under Article 21;
- The competent state agency appraises the dossier, assessing feasibility and the project’s socio-economic efficiency;
- The two parties enter into a written agreement on the incentive and support content applicable to the project; this agreement serves as the basis for implementation;
- The specific incentive level and application period are decided by the Prime Minister based on the appraisal results and the agreement’s content.
Because the mechanism hinges on a bilateral agreement, investors should prepare thoroughly: financial records, disbursement plans, commitments on technology, employment, environmental protection and spillover effects — these carry significant weight during appraisal.
Key cautions when researching and applying
- Do not cite clause numbers of Article 17 without checking the Official Gazette. Cross-checking revealed a citation discrepancy: some sources quote Article 21.1 of Decree 96/2026 as referring to “Clause 1 of Article 17”, while the full text of Law 143/2025 places the subject list at Clause 2 of Article 17. The safest approach is to describe the subject content and capital thresholds without asserting a clause number until the Official Gazette or original PDF is verified.
- Apply only current instruments. Law 143/2025 fully replaced Law 61/2020 from 1 March 2026; do not cite the 2020 Law on Investment for procedures arising after that date. Any later amending instruments should be checked for validity at the time of application.
- Do not speculate on specific incentive levels. Tax rates, exemption periods and specific support for each project are decided by the Prime Minister on a case-by-case basis; any figure not stated in an official decision has no legal value.
Frequently asked questions
Does meeting the capital threshold automatically entitle a project to special incentives?
No. The capital and disbursement thresholds under Article 21 of Decree 96/2026 are conditions for consideration. Actual application depends on the appraisal outcome, the content of the written agreement, and the Prime Minister’s decision for that project.
How do special incentives differ from ordinary investment incentives?
Ordinary incentives apply by incentivized sector, industry and location with rates fixed in law. Special incentives are a flexible mechanism whose level and duration are decided separately for each large-scale project, through a written agreement with the competent state agency.
What does the written-agreement procedure involve?
The details are prescribed in Article 24 of Decree 96/2026. In principle: the investor proposes with supporting documents; the competent agency appraises; both parties sign a written agreement; the Prime Minister decides the specific level and duration. Investors should consult the full text of Article 24 to prepare the correct dossier components.
What does the Law on Corporate Income Tax 67/2025 provide on special incentives?
The Law on Corporate Income Tax 67/2025/QH15 prescribes the tax rates and incentive periods for projects granted special incentives. When building a financial model, investors should cross-reference the Law on Investment 143/2025, Decree 96/2026 and the Law on Corporate Income Tax 67/2025 together.
Legal basis
- Law on Investment 143/2025/QH15 — Article 17 “Special investment incentives and support” (effective from 1 March 2026);
- Decree 96/2026/ND-CP — Article 21 (capital thresholds, disbursement, commitments), Article 24 (application procedures);
- Law on Corporate Income Tax 67/2025/QH15 (tax rates and special incentive periods).
Preparing a large-scale project and need an assessment of special-incentive eligibility? Contact the FLAT Law Firm team via our contact page for advice tailored to your specific case.
Transparency note: This article was drafted by AI and quality-checked by the FLAW AI Legal Council system; its content has not been reviewed by a licensed human lawyer. The information is for general reference only and does not replace legal advice for a specific case.