Hoa Lac Hi-Tech Park facilitates investors

13:42 | 11/09/2015 Science - Technology

(VEN) - Deputy Head of the Management Board of the Hoa Lac Hi-Tech Park Nguyen Trung Quynh said that the park would create the most favorable conditions for investors in a talk with Vietnam Economic News’ Quynh Nga on the sidelines of the trade and investment promotion event organized by the Hoa Lac Hi-Tech Park and the Asian Science Park Association.

Hoa Lac Hi-Tech Park facilitates investors

What were expectations for the event?

The Asian Science Park Association is a large and prestigious association that was established in 1997 in Japan. The association currently has 19 members. Compared to the first organization in Vietnam in 2012, this year’s event saw the participation of large number of firms with more than 23 foreign companies from the Republic of Korea, Thailand and Japan and over 50 domestic businesses.

The purpose of the event was to help high-tech businesses in Asia to promote trade links and implement technology transfers, particularly in information technology, biotechnology, new materials, automation and robotics. Domestic and foreign companies introduced their strengths and operations in order to promote deeper exchanges between businesses and stimulate cooperation, contributing to improving competitiveness.

Foreign companies came to the event to seek cooperative opportunities in the Hoa Lac Hi-Tech Park. What support policies has the park devised?

All domestic and foreign companies when investing in the Hoa Lac Hi-Tech Park are entitled to preferential mechanisms and policies such as corporate income tax exemptions for the first four years and a tax rate of five percent for the following nine years.

We are devising specific incentives for the Hoa Lac Hi-Tech Park and those incentives are expected to be submitted to the prime minister for approval by the end of September. Those incentives will specify preferential policies for investors and infrastructure development units.

To attract talented people working in the park, we will implement policies such as personal income tax exemptions, creating favorable conditions for purchasing cheap housing and supporting immigration procedures.

High-tech development is an urgent issue for Vietnam in the current period. What is your view?

The current policy is to promote and support the development of hi-tech parks through the deployment of multiple applications into economic sectors. In addition, strengthening investment and accelerating infrastructure construction in the Hoa Lac Hi-Tech Park, Saigon Hi-Tech Park and Da Nang Hi-Tech Park are mentioned. However, it depends on scientific and technological potential of Vietnam as investment in the science and technology sector remains low, while the level remains limited. Therefore, creating a breakthrough in investment in science and technology to improve competitiveness is necessary.

The Hoa Lac Hi-Tech Park currently has 67 valid projects. Of this, around 30 projects are currently in operation and 20 projects are under deployment, while the remainder is completing procedures. In addition to domestic businesses, the park has nine foreign companies from Japan, Chinese Taipei, Italy and China, creating jobs for more than 10,000 workers.

 

Quynh Nga

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