The Saigon Hi-tech Park in HCM City’s Thu Duc city. HCM City will focus on speeding up investment procedures to attract more investors. (Photo baodautu.vn) Vo Sy Nhan, general director ofoffice space provider Onehub Saigon Bund, said though the park has been makingefforts to help, his company’s project there has been slow to make a start.
It was approved in 2014, buthas been stymied by administrative bottlenecks, he said.
For instance, approval for itsland planning adjustment has been slow, and since the park itself is also goingthrough a similar process, it could take long, he said.
It is also having difficultyextending its land lease contract, which requires the city’s approval, he said.
Nhan has asked relevantauthorities to quickly approve both so that work on the project could beginsoon.
Other businesses at theconference also complained about slow administrative procedures.
Pham Tan Dat, founder ofe-commerce platform FADO, said he is looking at investment in the hi-tech park,but needs assurance about administrative deadlines.
Phan Van Mai, Chairman of theHCM City People’s Committee, admitted there have been numerous cases of tardyprocessing, hindering investment activities.
He said the city would focus onassisting investors, such as quickly approving land planning faster, and urgedbusinesses to work with authorities to resolve administrative problems.
Nguyen Anh Thi, head of thepark management, also promised it would strive to reduce the time and expensestaken to complete administrative procedures.
It is soliciting investments inbusiness incubation and training, high-technology manufacturing, hi-techservices, and smart factories.
A 10 percentage point cut incorporate income tax is offered to hi-tech investors for the first 15 years ofa new project. Large investors are also offered tax breaks.
Depending on new projects’scale and industry, they are also exempt from paying land rent for 18 to 22years or the entire duration of a project, or get rent waivers of up to 75 percent./.
VNA
