The Government has recently issued a decree stipulating special mechanisms and policies for the Hoa Lac Hi-tech Park.
Accordingly, organizations and individuals, both domestic and foreign, investing and working at the Park, will enjoy many preferential and investment support policies.
Applying corporate income tax of 10%
Investment projects at the Hi-tech Park will be given the best incentives in line with legal regulations on investment and tax laws.
A corporate income tax of 10% will be applied to new projects with the capital size of VND4 trillion (US$176 million) or above, within 30 years.
As for the projects which had been licensed by the provincial-level People’s Committee prior to the Prime Minister’s approval of the adjustment to the master construction plan for the Hoa Lac Hi-tech Park (on May 23, 2008), and are now working at the Park, they will enjoy tax incentives mentioned in the granted investment certificates/investment licenses/investment incentive certificates.
Prioritizing the sufficient land fund for laborers’ accommodation
Regarding housing development policies for employees working at the High-tech Park, the Ha Noi People's Committee will prioritize the allocation of sufficient land fund for the construction of dwelling houses for laborers. The State encourages and supports organizations and individuals to invest in the housing construction and development (including technical infrastructure, social infrastructure and housing facilities).
Organizations and individuals implementing housing projects for laborers working in the High-tech Park are entitled to tax incentives, land lease fees and land use fees in line with the current legal regulations and the provisions of this decree.
The decree stipulates that overseas Vietnamese investors, experts and laborers; foreigners and family members (including parents, spouses, offspring, adopted children under 18), are considered for the issuance of exit and entry visas with multiple-use validity and expiry dates suited to their direct working time at the High-tech Park.
Apart from the above-prescribed preferential and investment support policies, domestic and foreign organizations and individuals investing and working in the Hi-tech Park may also enjoy other preferential and support policies according to the provisions of the law when fully meeting the requirements for preferential treatment and support.
For the projects which require special investment in the Hi-tech Park, the Ministry of Science and Technology shall submit to the Government or the PM for decision on additional incentives and investment support.