High-tech park is a place where research and development and high-tech application are concentrated and linked; high-tech incubation, high-tech enterprise incubation; training high-tech human resources; manufacturing and trading high-tech products, providing high-tech services.

Therefore, in order for investors to have a better view of the procedures for implementing investment projects in High-tech park in Vietnam, Hong Bang Law would like to send to customers the following advice:

Legal grounds

• Investment Law 2020;
• Decree No. 31/2021/ND-CP detailing provisions of the Investment Law.
• Law on High Technology 2008
• Decision 66/2014/QD-TTg approving the list of high technologies prioritized for development investment and the list of hi-tech products encouraged for development

Incentive policies

• Exemption and reduction of corporate income tax:

Preferential tax rate of 10% for a period of 15 years. Incomes of enterprises from implementing new investment projects in the following fields: Scientific research and technological development; high technology applications on the list of high technologies prioritized for development investment in accordance with the Law on High Technology

• Preferential import and export tax

Tax exemption for “raw materials, supplies and components that cannot be domestically produced and imported for production of investment projects in the fields of special investment encouragement specified in Appendix I issued together with Decree No. this Decree or areas with extremely difficult socio-economic conditions (except for projects on manufacturing and assembling cars, motorbikes, air conditioners, electric heaters, refrigerators, washing machines, electric fans, washing machines, etc.) dishes, disc players, stereos, electric irons, kettles, hairdryers, hand dryers and other items under the Prime Minister’s decision) are exempt from import tax for a period of 5 (05) years) years from the date of commencement of production.

• Land rental incentives:

Depending on the Region, the actual land in the Hi-Tech Park has different land rental incentives.

Regulations on the implementation of investment projects

According to the Law on High Technology and guiding documents, investment projects in high-tech zones must meet the following criteria:

• The field of operation of the project must be in the high-tech fields that are encouraged for investment according to the provisions of Article 5 of the Law on High Technology, including:

• • Information technology;
  • Biotechnology;
  • New material technology;
  • Automation technology;

• High-tech products encouraged for development are high-tech products created from technologies on the List of hi-tech products prioritized for development investment and satisfying the following conditions:

• • Having a high proportion of added value in the product value structure;
  • High competitiveness and great socio-economic efficiency;
  • Capable of exporting or substituting imported products;
  • Contributing to the improvement of national scientific and technological capacity.

• Spending on research and development of the project

• • Total expenditure on research and development carried out in Vietnam accounts for not less than 5% of total annual revenue or expenditure on research and development activities carried out in Vietnam accounts for not less than 1% of total revenue. annual.
  • Contents of research and development expenditures and expenses for research and development activities are specified in Appendix 1 to Decision 27/2006/QD-BKHCN.

• The number of employees with university degrees or higher directly involved in the research and development of the project must reach at least 5% of the total number of employees of the project.
• The project’s technological line must reach an advanced level, ensuring the following requirements: production on the line is specialized and organized according to the method of automation, of which at least 1/3 (one) third) the number of automatic devices controlled by the program; are arranged in a working space that meets industrial hygiene standards according to the provisions of Vietnamese law.
• The project’s quality management system must meet specialized international standards (eg ISO 9000/2001, CMM or GMP, etc.); must apply a business management system by computer.
• The project must comply with environmental standards and technical regulations in the field of operation of the project in accordance with the laws of Vietnam. Encourage the project to achieve international environmental standards such as ISO 14000 or equivalent standards.

Thus, compared to investment projects outside the hi-tech park, investment projects in the hi-tech park must meet more stringent conditions. The reason for such a difference is because the high-tech park is a specific area, set up to meet the goal of developing high-tech industries, and at the same time, the investment project in the hi-tech park also receives More incentives than projects outside the hi-tech park, so the law also stipulates stricter conditions for investment projects outside the hi-tech park.

• Rent or buy factories, offices and warehouses built to serve production and business activities.
• Paid use of technical infrastructure works, service works, including road systems, electricity supply, water supply, drainage, communication, wastewater treatment, waste and other public utilities and service works (collectively referred to as infrastructure usage fees).
• Transfer and receive the assignment of land use rights, lease or sub-lease the land with which technical infrastructure has been built for the construction of factories, offices and other works in service of production and business in accordance with the provisions of law. real estate law and real estate law.
• To lease or sub-lease factories, offices, warehouses and other buildings built to serve production and business in accordance with the law on land and the law on real estate business.
• Other activities in accordance with the provisions of the Investment Law, this Decree, the Government’s regulations on industrial parks, export processing zones, high-tech zones, economic zones and relevant laws

Procedures

Step 1: Carry out the procedures for approving the investment policy/registering for the Investment Registration Certificate

Step 2: Set up a business

Step 3: Deploy the construction investment

Services provided by Hong Bang Law

Hong Bang Law is a company with 10 years of experience in consulting in the field of foreign investment. We have supported many foreign investors to accompany them during the implementation of investment projects in Vietnam.

Hong Bang Law will accompany customers with consulting and supporting services in the Execution of investment projects in industrial parks:

• Comprehensive advice on the investment process in industrial parks
• Apply for approval of investment policy and issue an Investment Registration Certificate
• Register to establish a business, create a seal, open an account
• Representing customers to carry out necessary procedures at state agencies

If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com

Wishing you and your family good health, peace and success!

Best regards!