At a recent meeting with the Ministry of Science and Technology, Pham Dai Duong, Head of the Hoa Lac High-Tech Park, said that the development of the Hoa Lac High-Tech Park is adjusted not only in Decree 99/2003 on high-tech projects policies but also in other laws of Investment, Land, Construction and Environment Protection.
A 50 percent personal income tax reduction is proposed for staff in Hoa Lac High-Tech Park
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The management board of the park therefore recommended NA to revise the Law on Personal Income Tax, applying a 50 percent tax reduction for income and salary of individuals working in high-tech projects, Duong said.
Duong also proposed NA to reconsider the time for approving reports on environmental impact assessment to reduce disadvantages for investors while still ensuring the environmental protection.
Pilot policies should be also applied to rapidly develop the park as it has specific characteristics in organization model, capital source and infrastructure development method, he said.
NA Deputy Chairman Hien said that NA considers the park a national key investment project as its development will create the growth spearhead not only for Hanoi but also for the entire northern region.
NA therefore would reconsider the current policies to help the park develop comprehensively as expected, he said.
Earlier, at a meeting with Prime Minister Nguyen Xuan Phuc when the Government leader visited the park late last month, Duong also said that the park has been offered incentives to attract investors, especially Decree 74/2017/ND-CP. However, preferential policies to attract high-skilled workers such as those on private income tax and housing for workers are not mentioned in the decree.
Infrastructure projects using the State budget have been basically completed but those using official development assistance (ODA) loans from the Japanese Government are facing difficulties.
The hi-tech management board proposed the Hanoi government to advance capital for site clearance in Thach That and Quoc Oai districts in Hanoi where the park is located to complete a resettlement area and other items serving site clearance.
At the meeting, Phuc said the Hanoi government should advance capital to rapidly complete site clearance and develop infrastructure for the park. He also asked the Ministry of Planning and Investment to propose solutions to provide enough reciprocal capital for infrastructure development projects at the park to speed up ODA loan disbursements.
Hoa Lac Hi-Tech Park has attracted 81 projects worth some VND66.2 trillion (US$2.9 billion) after 21 years of operation, said Minister of Science and Technology Chu Ngoc Anh. The projects covered a total of 358 hectares while the remaining 241 hectares of land is not yet cleared.
In 2017, the Hoa Lac Hi-Tech Park management board issued investment certificates for three projects with total capital of more than VND5 trillion, especially a project of South Korea’s Hanwha Techwin Co Ltd to build Hanwha Aero Engines plant valued at around VND4.5 trillion. The project got off the ground in September last year and is expected to be put into operation in April this year.
The Government has so far issued Decree 74/2017/ND-CP providing some preferential mechanisms and policies for Hoa Lac Hi-Tech Park.
The hi-tech park management board is working with the Ministry of Finance to prepare a circular that guides the implementation of Decree 74 on land use fees and prices.
