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Vietnam Issues Decree to Attract More High-Tech Investments
Ho Chi Minh City aims to attract significant investments in high-tech ventures, with a focus on electronics, semiconductors, and data centers within the Saigon Hi-tech Park, showcasing Vietnam's growing appeal for high-tech industries.
The Vietnamese government has issued Decree 10/2024/ND-CP, effective from March 25, 2024, to attract more high-tech investments. The decree aims to streamline processes and increase support for investors in high-tech parks and business activities.
- Vietnam has issued Decree 10/2024/ND-CP to streamline processes and increase support for high-tech investments, offering incentives such as land lease fee exemptions and preferential interest rates on loans.
- The decree outlines eligibility criteria for establishing and expanding high-tech parks, emphasizing the need for suitable infrastructure, environmental protection, and defense and security measures.
- Ho Chi Minh City aims to attract significant investments in high-tech ventures, with a focus on electronics, semiconductors, and data centers within the Saigon Hi-tech Park, showcasing Vietnam’s growing appeal for high-tech industries.
It outlines regulations for establishing and expanding high-tech zones, along with investment incentives and support policies. Investors in infrastructure projects within high-tech parks will enjoy benefits such as exemptions from land lease fees and reimbursements for land clearance expenses.
The decree also emphasizes the development of living areas and social infrastructure surrounding high-tech parks, and offers preferential interest rates on loans. Vietnam’s priority industries, including high-tech enterprises, are eligible for various incentives such as corporate tax cuts and credit incentives.
Ho Chi Minh City is aiming to draw significant investments in the high-tech sector, with plans for research, production, and service ventures. The country is rapidly becoming a promising destination for high-tech ventures, with incentives and support measures being introduced to encourage investment in this sector.
Outlook
Vietnam is rapidly emerging as a promising destination for high-tech ventures.
As the country continues to prioritize technological advancement and industrial transformation to meet the needs of its young workforce and achieve national development goals, the government has introduced a series of incentives and support measures to encourage investment in high-tech parks and technology enterprises.
Priority industries in Vietnam, including high-tech enterprises, are eligible for corporate tax cuts, credit incentives, and exemptions or reductions in land and water surface lease fees.
A key policy initiative, Decree 13/2019, already encourages high-tech companies to relocate to Vietnam by providing access to Scientific/Technology Enterprise Certification, which unlocks a range of government incentives.
To learn more about the incentives for doing business in Vietnam, see our articles on incentives for Doing Business in Vietnam and Tax Incentives for Foreign Enterprises in Vietnam.
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