The ministry’s fifth draft o­n human resources development looks to the capital from the State budget as well as from foreign investors and domestic people, organisations and businesses. Businesses from all economic sectors will be encouraged to increase direct investment in human resources training to become a major force in vocational training to meet their requirements.

Under the draft, the State also encourages economic groups and big corporations to set up or contribute capital to training establishments, including universities, colleges and vocational training schools. Businesses spending o­n building training establishments and regular personnel training will be exempted from corporate income tax.

Training establishments in economic, industrial and export processing zones will enjoy the same preferential policies like other businesses in the zones in additional to incentives for the education and training sector.

The ministry also proposed corporate income tax reduction and exemption in nine years for projects to build education and training establishments.