Enterprises investing in Hoa Lac Hi-Tech Park enjoy favorable support

12:23 | 25/06/2017 Economy

Domestic and foreign organisations as well as individuals investing in Hoa Lac Hi-Tech Park will enjoy a range of preferential policies and investment support, according to a newly-issued decree by the Government on the specific mechanisms and policies for Hanoi’s hi-tech complex.

Perspective of Hanoi-based Hoa Lac Hi-Tech Park

According to the new document, investment projects in the high-tech zone are entitled to the highest incentives possible, in accordance with laws on investment and taxation.

For new investment projects in the hi-tech park, with a total capital of VND4 trillion or more, a corporate income tax rate of 10% shall be applied for a period of 30 years.

For projects approved by the provincial People's Committees prior to the approval by the Prime Minister on the adjustment of the master plan for construction of the high-tech park (May 23, 2008) and operating within the complex, shall be entitled to tax incentives in accordance with provisions under the investment certificate/investment and licence/investment preferential certificate granted.

Regarding housing policy for employees working in the high-tech park, the Hanoi People's Committee will prioritise the allocation of sufficient land for the construction of houses for labourers working in the complex.

The State encourages and supports organisations and individuals to invest in the construction and development of housing (including technical infrastructure, social infrastructure and housing).

Organisations and individuals implementing housing projects, for labourers working in the high-tech park, are entitled to incentives on taxation, land rents and land use levies, according to the current provisions of laws and regulations under the above decree.

The decree stipulates that investors, specialists and labourers, who are overseas Vietnamese, foreigners and their family members, (including parents, spouses, offspring and adopted children under 18) will be considered for the issuance of multiple entry visas with a time limit suitable to their working schedule in the high-tech park.

Apart from the above-prescribed preference and investment support policies, domestic and foreign organisations and individuals investing and working in the high-tech park, may also enjoy other preferential support policies, according to the provisions of current laws, when fully meeting conditions for preferential treatment and support.

For special projects that need to be attracted to the hi-tech parks, the Ministry of Science and Technology shall propose that the Government or the Prime Minister decide whether to grant additional investment incentives and supports.

Theo NDO