Increasing incentives to attract investment in digital technology zones

In Ho Chi Minh City, the Ministry of Science and Technology in collaboration with the Digital Transformation Support and Consulting Center organized a workshop and announced a series of special incentives for the concentrated Digital Technology Park under the new Digital Industrial Technology Law. These policies are considered an important link in the strategy to attract technology capital flows, especially when Vietnam aims to form competitive production and innovation centers in the region.

According to the Department of Information Technology Industry, enterprises investing in digital technology zones will enjoy a preferential tax rate of 10% for 15 years, exempted for 4 years and reduced for the next 9 years. In addition, enterprises will be exempted from all land rent, work permits, 5-year visas for experts and 5-year personal income tax exemption. Projects with a scale of over 6,000 billion VND will be considered for an extension of the incentive period.

Mr. Nguyen Anh Tuan - Department of Information Technology Industry, Ministry of Science and Technology said: "In addition, the Government issued Decree 30, exempting all land use fees for investment projects to build digital technology parks and investment projects to build key digital technology and semiconductor production."

In fact, these incentives are having a clear effect in localities. The new policy is playing an important "leverage" role in competing to attract large technology corporations.

Mr. Pham Dinh Thanh - Member of the Board of Directors of Saigon Real Estate Corporation, Investor of Yen Binh Technology Park shared: "With policies on tax exemptions, administrative procedure exemptions as well as preferential policies on visas, everything, leading investors in the world come to work, creating products for our country".

In Ho Chi Minh City, Quang Trung Software Park - the country's pioneering digital technology park model - is shifting to a "digital - green - smart urban" model, investing in cloud infrastructure, big data and cyber security. Representatives of the unit assessed that the new mechanism helps businesses reduce costs and increase competitiveness.

Mr. Phan Phuong Tung - Director of the Center for Support and Digital Transformation of Ho Chi Minh City commented: "Currently, the mechanism is very open, providing very favorable support in investment as well as support activities from workers to businesses operating in digital technology industrial parks".

Tax, land and procedural incentives are significantly reducing investment costs, helping Vietnam increase its competitiveness with regional technology hubs. For strategic sectors such as semiconductors and digital industries, the formation of specialized technology parks will attract capital flows and high-quality human resources.

Source: https://vtv.vn/tang-uu-dai-de-thu-hut-dau-tu-vao-khu-cong-nghe-so-100251208182450899.htm