Implementing many incentives on innovation for the National Innovation Center

This Decree has many preferential regulations for innovation. Specifically, a series of preferential regulations on labor, credit, land, science and technology premises have been raised with the goal of "The State encourages and has preferential mechanisms and policies to support to create a favorable research and development environment, investment and business at the Center to attract domestic and foreign talents, experts, corporations, technology enterprises in the country and from countries with developed technology to implement ideas on the basis of exploiting intellectual property, technology, new business models and the ability to grow quickly".

Labor incentives

According to this Decree, foreigners working at the Center in the following cases are not required to be granted a work permit: To perform labor contracts with the Center in managerial, executive, expert and technical positions that Vietnamese workers cannot meet according to the needs of the Center; to perform labor contracts with organizations and enterprises operating at the Center in managerial, executive, expert and technical positions that Vietnamese workers cannot meet according to production and business needs.

Investment credit incentives

Investment projects of innovative startups operating at the Center and investment projects of the Center are on the list of projects eligible for State investment credit loans. If they fully meet the loan conditions, they are eligible for State investment credit loans according to the provisions of law.

The Center, creative startup individuals, and creative startup enterprises operating at the Center are allowed to receive funding, support, loans, and loan guarantees from non-budgetary state financial funds and financial institutions in accordance with the law.

Land incentives and creation of operating premises at Hoa Lac High-Tech Park

Exemption from infrastructure usage fees for leased land areas located in areas subject to infrastructure usage fees for technical infrastructure works invested by the state.

Exemption from all compensation, site clearance, support and resettlement costs.

The state budget supports all the site clearance costs of the Center's infrastructure investment project.

Receiving and using official development assistance capital, preferential loans, aid, and sponsorship

The Decree also stipulates:

The Center is allowed to receive and use official development assistance (ODA) capital and preferential loans from foreign donors in accordance with the law.

The Center is allowed to receive and use non-refundable aid that is not part of official development assistance from foreign agencies, organizations and individuals (hereinafter referred to as aid), and donations and gifts from domestic organizations and individuals (hereinafter referred to as grants), including the interest on deposits from grants and donations to invest in building facilities, regular expenses, support innovation and start-up activities and the management and operation of the Center.

Aid, sponsorship and interest on deposits are managed according to the mechanism as legal revenue sources of the Center, not part of the state budget revenue and do not have to carry out procedures to establish public ownership.

The reception, management and use of aid for the Center shall comply with the provisions of this Decree and the law on management and use of non-refundable aid not belonging to official development assistance of foreign agencies, organizations and individuals for Vietnam.

Regarding the provision of public career services of the Center, the Decree stipulates:

The Center is provided with public career services in accordance with the functions and tasks of the Center, including: Incubation and business support services, including providing working space, technical infrastructure, resources and necessary services for organizations and individuals to complete ideas, research and development, technology application and production and business;

Organization and training support services; investigation, survey, research, and publication of documents and publications on innovation, startups, and key technology areas of the Center;

Consulting, connecting, promoting innovation and startups, including connecting businesses, promoting investment and trade, organizing exhibitions, conferences, seminars, forums, and competitions to promote innovation and startups domestically and internationally;

Consulting services for establishment, management and operation of innovation and startup centers; management of creative startup investment funds;

Services providing equipment, laboratories, shared software to support individuals, organizations, and businesses in training, research, design, testing, measurement, analysis, appraisal, inspection, development of products, goods, materials, etc.

Services providing shared workspaces, including centralized workspaces, product display spaces, and providing utilities to support and connect organizations and individuals operating at the Center;

Ancillary services directly supporting the performance of the Center's functions and tasks, including: accommodation services and other ancillary and support activities for innovation and startups;

In addition, the Center attracts and supports individuals, creative startups, innovative businesses, and organizations, individuals, and partners to conduct research and development, technology application, investment, production, and business activities at the Center's facilities in accordance with the Center's functions and tasks. Creative startups, innovative businesses, and creative startups operating at the Center and organizations and individuals supporting innovation are supported by the Center to: Carry out administrative procedures in the process of research, investment, business, and commercialization of products and services; carry out procedures for entry visas, work permits, and residence permits; promote and promote investment and connect with the innovation and startup ecosystem; set up offices, research and production areas, technology demonstration areas, and use the Center's laboratories, testing, inspection, and other facilities and utilities.

Notably, creative start-up individuals, innovative enterprises, and creative start-ups operating at the Center enjoy the following preferential mechanisms and policies: Mobilize and receive funding from research and innovation funding programs of the State and domestic and foreign enterprises, organizations, and individuals according to the provisions of law to implement ideas based on exploiting intellectual property, technology, new business models and those with the potential for rapid growth; Enjoy preferential mechanisms, policies, and favorable administrative procedures according to the provisions of law to carry out innovation and start-up activities.

The Center itself was established as the National Innovation Fund following the business model, with the function of mobilizing resources, managing the creative startup investment fund, and supporting, sponsoring, and investing in innovation and creative startups. The National Innovation Fund operates according to market principles, accepts risks, and ensures publicity and transparency. The Minister of Finance approves the Project on establishment, Charter, and regulations on the operating mechanism of the National Innovation Fund.

Source: https://nhandan.vn/trien-khai-nhieu-uu-dai-ve-doi-moi-sang-tao-cho-trung-tam-doi-moi-sang-tao-quoc-gia-post877670.html