Hanoi (VNA) – The Government has issued a decree onpreferential policies for the hi-tech park of the central city of Da Nang.
Decree 04/2018/ND-CP clarifies that the city will receive central budgetto implement projects and works in the park as well as national programmes ondeveloping the park.
Each year, if a central budget collection review finds it exceeds the plan,the Government will ask the National Assembly Standing Committee to prioritisecapital for the city to complete infrastructure for the park in 2020.
The Government will also mobilise official development assistance (ODA) forDa Nang to build technology and social infrastructure, public works, trainingand technology application and development centres, and hi-tech enterprise incubator.The city will cover corresponding capital for the projects.
The document also regulates many preferential policies in tax, land use,ground clearance, and credit for firms in the park.
Specifically, along with land use tax exemption for specific cases, the decreealso gives preferential corporate income tax of 10 percent in 15 years for newprojects in the park. Projects with capital from 3 trillion VND will enjoy atax rate of 10 percent in 30 years.
As the development of hi-tech parks in Vietnam is still below expectations, they are seeking measures to attract more investments, especially in research and development projects.
The central city of Da Nang expects to attract at least 10 investment projects into its hi-tech park by 2020, including at least one major project of a multinational hi-tech company.
Yamato Sewing Machine Manufacturing Company from Japan plans to build a factory in Da Nang Hi-Tech Park providing sewing machines, spare parts and accessories as well as automotive equipment in sewing industry.
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Da Nang hi-tech park (Photo: baodautu) 
