Government offers support to projects in Hoa Lac Hi-Tech Park
The Government has issued a decree defining special mechanisms and policies for the Hoa Lac Hi-Tech Park in Hanoi, including a 10 percent corporate income tax in 30 years for new projects with an investment from 4 trillion VND (176 million USD).
Hanoi (VNA) –The Government has issued a decree defining special mechanisms and policies forthe Hoa Lac Hi-Tech Park in Hanoi, including a 10 percent corporate income taxin 30 years for new projects with an investment from 4 trillion VND (176 millionUSD).
Projects,which were licencedbefore May 23, 2015 when the Prime Minister approved the park’s planning and areoperating in the park, will enjoy preferential policies stated in licenses.
The decree also clarifiesthat the Government encourages and backs organisations and individuals to investin building and developing homes for labourers working in the park throughsupport in tax and land rent, land use fee.
Investors and experts beingoverseas Vietnamese and foreigners and their family members are considered forthe issuance of multiple entry visas to Vietnam with a time limit suitable totheir working schedule in the park.
Along with the support,organisations and individuals will enjoy other preferential policies in linewith the law when they satisfy all necessary conditions.
For special projects thatneed to be attracted to the park, the Ministry of Science and Technology shall proposesthe Prime Minister decide whether to grant additional investment incentives andsupport.-VNA
Hoa Lac Hi-tech Park granted investment licences to nine projects worth a total of 200 million USD in 2016, bringing the number of licensed projects up to 78 worth 3 billion USD combined.
The Government will issue a new decree on mechanisms for the Hoa Lac Hi-Tech Park, enabling it to play an extremely important role in enhancing the country’s science and technology capacity, Prime Minister Nguyen Xuan Phuc has said.
The Hoa Lac High-tech Park’s management board has sent a report to the Ministry of Planning and Investment requesting 364 million USD for land clearance and infrastructure construction.
The Japan International Cooperation Agency (JICA) has signed an official development assistance (ODA) loan agreement worth 12.865 billion JPY (117.8 million USD) for the Hoa Lac Science and Technology City Development Project.
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Illustrative Image (Source: VNA) 
