VN Express is carrying the outcomes of a HSBC survey that found low labor costs and economic resilience the two main reasons businesses considered Vietanm in their expansion plans. There is, however, no mention of tax incentives in either the article or HSBC’s original press release.

Note: Tax incentives can be very attractive for international firms. Though there are conditions that must be met to qualify, in some circumstances firms can receive tax exemptions for up to four years which is often followed by a period of up to nine years of tax at half the standard corporate income tax rate. The global minimum tax will probably cancel these incentives out, however, it’s not in force yet and it’s difficult to believe tax incentives are note a bigger driver of investment for foreign firms.

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