New opportunities

Investors and developers of industrial real estate in our country are brimming with optimism. The most immediate reason is that new incentives for the private sector will create significant momentum. And that will generate new customers for industrial parks.

How can this process be summarized?

For a long time, businesses with foreign direct investment (FDI) have been the main customers of industrial parks. But with these developments, domestic manufacturing businesses will soon become a new customer group. Private businesses will receive a 30% reduction in land rent for the first five years of their land lease contract. Lower costs mean increased competitiveness in the short term.

Furthermore, there are policies to encourage research, development, and innovation through high tax deductions. But what are the real obstacles hindering domestic private businesses?

- All domestic and non-state-owned businesses are spending too much time on administrative procedures. If it takes 4-5 years for approval of all sorts of procedures, businesses will inevitably miss out on countless business opportunities.

- By streamlining procedures for investment approval, environmental regulations, fire safety, and the adoption of credit-based or customs-based systems, businesses' competitiveness will skyrocket. Simply reducing cumbersome procedures opens up many new opportunities for businesses.

TU QUEO

Source: https://www.sggp.org.vn/co-hoi-moi-post798166.html