NEW REGULATIONS ON INCENTIVE POLICIES, SUPPORT FOR INVESTMENTS IN HIGH-TECH PARKS

High-tech parks are areas that concentrate and link various research and development activities applying advanced technologies to life, along with the process of nurturing high-tech, technology-based enterprises. Therefore, high-tech parks are identified as one of the current economic development strategies, and investors in high-tech parks will enjoy certain incentives. On February 01, 2024, the Government issued Decree No. 10/2024/NĐ-CP with many incentive policies and support for investment in high-tech parks (Decree No. 10).

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Decree No. 10 stipulates that high-tech parks are preferential investment areas, enjoying investment incentives applicable to areas with particularly difficult socio-economic conditions as prescribed by investment laws. The investment incentive policies and support for investments in high-tech parks include:

• Firstly, high-tech parks are preferential investment areas, enjoying investment incentives applicable to areas with particularly difficult socio-economic conditions as prescribed by investment laws.
• Secondly, specific levels of incentives and support for investment projects and activities within high-tech parks are applied according to the provisions of investment laws, corporate income tax laws, export tax laws, import tax laws, land laws, credit laws, and related laws.
• Thirdly, the Management Board of the high-tech park and competent authorities are responsible for implementing administrative procedures related to investment, enterprises, land, construction, environment, labor, leasing, customs, and related procedures under the one-stop-shop mechanism and inter-connected one-stop-shop mechanism as prescribed by law; supporting labor recruitment and other related issues during the investor’s implementation of activities in the high-tech park.
• Fourthly, investment projects and activities in high-tech parks are prioritized to participate in training and labor recruitment support programs; programs supporting research activities, application of high technologies, technology transfer; programs supporting the development of high-tech industries, development of high technologies in agriculture; support for innovative enterprises, small and medium-sized enterprises in creative startups; support for loans and other support programs of the Government, ministries, sectors, and localities.
• Fifthly, the People’s Council, People’s Committee at the provincial level shall issue policies and allocate resources to support investment in accordance with their authority and legal provisions to attract investment projects, high-tech human resources into high-tech parks.

This decree shall come into effect from March 25, 2024.

Above is the entire content of the News: New regulations on incentive policies, support for investments in high-tech parks.

* This news is for informational purposes about newly issued legal regulations and is not intended for specific advice or application in individual cases. 

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