VietNamNet Bridge – Aside from Hanoi, HCMC and Danang, other localities governed by the central Government will develop hi-tech parks in the coming years in line with a decision signed by the Prime Minister on June 8.

A corner of the Saigon Hi-Tech Park in HCMC. More high-tech parks will go up in other localities as approved by the Prime Minister

The new high-tech parks aim to fuel socio-economic growth in such localities, improve the competitiveness of the national economy and raise hi-tech content in locally-made products, according to a master zoning plan for hi-tech park development until 2020 with a vision toward 2030 approved by the Prime Minister.

From now to 2030, the Government plans to establish hi-tech parks in localities under the central Government using local budgets or other capital sources. The parks target to attract investment in the hi-tech sector and boost scientific and technological development in the country.

Meanwhile, the Government looks to further develop national hi-tech parks such as Hoa Lac Hi-Tech Park in Hanoi City, Saigon Hi-Tech Park in HCMC and Danang Hi-Tech Park.

The Government has also decided to build other projects such as Hanoi biology hi-tech park, Dong Nai high biotechnology park and Ascendas-Protrade hi-tech park in Binh Duong Province.

Regarding solutions to realize the scheme, the decision urges local authorities and relevant units to complete policies for hi-tech parks, attract private and foreign investors and allocate the central budget for the projects.

The Government also requests manpower development for the sector and improve links in hi-tech park building.

Among the three national hi-tech parks, Saigon Hi-Tech Park has strongly attracted domestic enterprises and large international groups such as Intel and Samsung.

Investors in the hi-tech zone currently enjoy a corporate income tax of 10% for 15 years, and are exempted from corporate income tax in the first four years and a 50% reduction in the next nine years.

For large-scale projects, the duration of a 10% preferential tax may be extended, but the duration of extension will not exceed 30 years.