Hanoi facilitates investment in Hoa Lac Hi-Tech Park

Secretary of the Hanoi Party Committee Dinh Tien Dung recently had a working session with Tsutomu Takebe, special advisor to the Japan-Vietnam Friendship Parliamentary Alliance. At this meeting, the two sides discussed the continued support of Hanoi City in the construction of the Vietnam - Japan University Project as well as the interest of Japanese investors in the development of Hoa Lac Hi-Tech Park.

A number of projects are underway in Hoa Lac Hi-Tech Park

Regarding the Hoa Lac Hi-Tech Park, Takebe Tsutomu said that this area lacks infrastructure and has not yet attracted major investors. Therefore, it is necessary to exploit and develop this area and said that many Japanese investors are very interested in and propose participating projects. He also proposed that the Vietnam - Japan University should be built in the hi-tech park, which will then contribute to promoting the image and development of Hanoi.

For his part, Secretary of the Hanoi Party Committee Dinh Tien Dung said that recently, the Government has agreed to transfer the Hoa Lac Hi-Tech Park from the Ministry of Science and Technology (MoST) to Hanoi City People's Committee. This is a large technology park in Vietnam, has specific policies to support businesses, and are expected to attract large projects from foreign investors.

The Hoa Lac High-Tech Park has four main areas of focus: information technology, automation technology, biotechnology and new material technology. Investment activities in the field of high technology in the park are currently enjoying preferential policies at the highest level, including land rental exemption throughout the investment term, corporate income tax exemption and reduction within 15 to 30 years, import tax exemption for some kinds of goods serving investment projects, and more.

Regarding the transfer of the high tech park to Hanoi, Pham Thi Van Anh - Director of the Department of Organization and Personnel under the MoST - said that, so far a lot of work has been carried out urgently. The MoST and the city People's Committee have been coordinating well for the handover. Every related task is within the deadlines and under control of responsible authorities.

Earlier, sharing about the reason for transferring the Hoa Lac Hi-Tech Park to Hanoi, Deputy Minister of Science and Technology Bui The Duy said that the Hoa Lac Hi-Tech Park is oriented to become a core technology park, focusing on developing core science, attracting many research institutes and research centers, but not focusing on quickly filling it up by attracting FDI enterprises.

“With this orientation, Hoa Lac Hi-Tech Park will become a potential source for the development of Hanoi. “If developed according to the high-tech industrial park model, the occupancy rate will be very fast, attracting large resources, but saturation will be very fast. Developing in the direction of a core technology park will help create space and development potential for Hanoi,” Deputy Minister Bui The Duy said.