MANY INCENTIVES FOR INVESTMENT PROJECTS IN HOA LAC HI-TECH PARK
The Decree No. 74/2017/ND-CP on provisions for specific policies on Hoa Lac hi-tech park issued by the Government on June 20, 2017, takes effect on August 05, 2017.
In accordance with the Decree, the projects launched in the hi-tech park shall have the greatest incentives. New investment projects in the hi-tech park which have at least 4000 billion VND capital shall apply the enterprise income tax rate of 10% in a period of 30 years. The projects which received investment license grant from people’s committee of a province before the Prime Minister approves the adjusted general planning for constructing the hi-tech park (May 23, 2008) and are running in the hi-tech park shall be given tax incentives as mentioned in the certificate of investment/investment license/certificate of investment incentive.
Besides, Hanoi People’s Committee shall allocate sufficient land for building houses provided for employees working in the hi-tech park. Entities running projects on constructing houses provided for employees working in the hi-tech park shall be given incentives in terms of taxes, land rents and land levies. Organizations and individuals running projects on housing shall not include the sums invested by the state, financial incentives in terms of taxes, land rents and land levies in house price and house rent price.
On foreign employee exit, entry and management, the Decree prescribes that Investors, experts and employees who are overseas Vietnamese or foreigners and their family members (including fathers, mothers, wives or husbands, offspring and adopted children under 18 years old) shall be considered to be granted exit and entry visas which are valid for multiple times and whose duration is consistent with their presenting work time in the high-tech park
