# Vietnam Issues Decree to Attract More High-Tech Investments

- Link: https://www.thailand-business-news.com/asean/vietnam/131888-vietnam-issues-decree-to-attract-more-high-tech-investments
- Published: 2024-03-19T18:11:15+07:00
- Author: ASEAN Briefing

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.

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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.

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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**](https://www.vietnam-briefing.com/news/vietnam-new-incentives-for-science-and-technology-firms.html/),
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**](https://www.vietnam-briefing.com/doing-business-guide/vietnam/why-vietnam/incentives-for-doing-business-in-vietnam)****
and** **[**Tax Incentives for Foreign Enterprises in Vietnam.**](https://www.vietnam-briefing.com/doing-business-guide/vietnam/taxation-and-accounting/tax-incentives-for-businesses)