Việt Nam's new fast track policies to boost high-tech investment environment set for approval
Minister of Planning and Investment Nguyễn Chí Dũng and delegates at the SEMIExpo Vietnam 2024. — VNS Photo Ly Ly Cao |
HÀ NỘI - Minister of Planning and Investment Nguyễn Chí Dũng has revealed that the government's new policies to position Việt Nam as a prime destination for high-tech investment, especially in sectors like semiconductors, will be approved this year.
At the opening of SEMIExpo Vietnam 2024 on Thursday, Minister Dũng said that the new policy will simplify investment procedures and drastically reduce time for investors in high-tech industries.
Investors in industrial zones, high-tech parks, export processing zones, or free trade areas will no longer need to apply for investment licences. Instead, they only need to register their investment and within 15 days, management boards will issue an investment registration certificate. Once issued, investors will be exempt from having to undergo further procedures such as construction permits, environmental impact assessments, or fire safety inspections, provided they comply with existing regulations.
“For investors, this represents a major step forward for both Việt Nam and the high-tech sector, especially the semiconductor industry, in the near future,” Dũng said.
A further initiative includes the establishment of a Investment Support Fund for high-tech enterprises, including those in the semiconductor industry. This fund will not only support central government initiatives, but also allow local governments to establish their own funds to support high-tech businesses in their regions.
The fund will provide financial backing for research centres, human resource development, worker housing, etc, ensuring comprehensive support for businesses.
These policies, currently presented to the National Assembly, will be approved in this NA session, Dũng said.
These forward-thinking policies reflect Việt Nam’s strong commitment to becoming a global hub for high-tech industries, offering an attractive, efficient environment for investors in key sectors like semiconductors.
Việt Nam is identified as an emerging semiconductor powerhouse with a projected market value of nearly US$31.4 billion by 2029, driven by strategic investments and strong government support.
See also
People, community at heart of digital transformation: Deputy PM
09:26 | 21/11/2024 Science - Technology
AI is core technology of 4th Industrial Revolution: Minister
11:19 | 20/11/2024 Science - Technology
Global scientific luminaries to gather at VinFuture sci-tech week
11:08 | 19/11/2024 Science - Technology
Hà Nội to host 2024 e-commerce and digital economy forum on November 21
17:23 | 17/11/2024 Science - Technology
Telecoms service providers invest in 4G, 5G technologies
17:20 | 17/11/2024 Science - Technology
Việt Nam, US sign cooperation agreement on cybersecurity
09:02 | 15/11/2024 Science - Technology
See more news
Viettel launches the world’s first O-RAN 5G Network
16:59 | 14/11/2024 Science - Technology
4G mobile network coverage reaches 99% of Vietnamese population: Minister
16:51 | 13/11/2024 Science - Technology
Quang Ninh to host 3rd Vietnam Int'l Digital Week next week
17:11 | 12/11/2024 Science - Technology
Practical innovations
09:15 | 06/11/2024 Science - Technology
Technology “key” to attract FDI
09:09 | 05/11/2024 Science - Technology
HCM City partners with Google for Education in digital transformation
14:47 | 04/11/2024 Science - Technology
Việt Nam develops 'purely Vietnamese' generative AI
09:45 | 01/11/2024 Science - Technology
Vietnam’s first semiconductor expo underway in HCM City
09:36 | 01/11/2024 Science - Technology
Vietnam fortifies technical cooperation with UAE, Saudi Arabia
09:17 | 31/10/2024 Science - Technology
Central city expands CIT zone
09:03 | 31/10/2024 Science - Technology
First Vietnam Dialogue opens new avenues for Vietnam-Germany financial cooperation
16:18 | 21/11/2024 Cooperation
Welcome ceremony held for Vietnamese Party chief in Malaysia
15:35 | 21/11/2024 News and Events
Blooming buckwheat flowers on Ha Giang roads
14:54 | 21/11/2024 Tourism
Economic cooperation – main pillar of Vietnam-Malaysia relations
14:48 | 21/11/2024 Cooperation
NA Chairman departs for official visit to Cambodia
14:38 | 21/11/2024 News and Events
Multimedia
Vietnam - Malaysia Strategic Partnership
10:54 | 21/11/2024 Infographic
Vietnam, Dominican Republic strengthening cooperation
08:45 | 20/11/2024 Infographic
Vietnam - Brazil strategic partnership
10:26 | 19/11/2024 Infographic
Nhon - Hanoi Station elevated urban railway comes into operation
09:04 | 18/11/2024 Infographic
Key facts on G20 and Vietnam's participation
09:42 | 17/11/2024 Infographic
NA deputies scrutinise investment policy for North-South high-speed railway project
08:54 | 21/11/2024 Policy
Developing relations with China is Vietnam’s top priority: Deputy PM
08:40 | 20/11/2024 Policy
Vietnam pledges to make more contributions to APEC cooperation
09:46 | 17/11/2024 Policy
Amending the Law on Electricity to unlock resources for energy security and net zero emissions
10:04 | 16/11/2024 Policy
Tra fish sector aiming for production, processing greening for sustainable development
15:38 | 20/11/2024 Industry
Solutions discussed to ensure coal supply for electricity generation in 2025
16:24 | 19/11/2024 Energy
Garment industry targets 47-48 billion USD in export turnover next year
16:16 | 19/11/2024 Industry
Residents support restarting Ninh Thuận Nuclear Project, call for clear roadmap
14:46 | 18/11/2024 Energy
Workshop seeks ways to attract Japan’s green investment to Vietnam
09:43 | 20/11/2024 Investment
Government approves investment policy to build Cam Lien Industrial Park in Quang Binh
16:57 | 18/11/2024 Investment
Disbursement of public investment must be accelerated: Deputy PM
12:17 | 17/11/2024 Investment
LG plans to pour further US$1 billion investment into Vietnam
10:42 | 16/11/2024 Investment
HDBank wins three awards at Vietnam Listed Company Awards 2024
10:53 | 21/11/2024 Finance-Banking
VIB, Flywire partner to streamline cross-border payments for students from Vietnam
16:46 | 18/11/2024 Finance-Banking
Vietcombank issues 2 trillion VND worth of green bonds for first time
18:55 | 16/11/2024 Finance-Banking
UK stands ready to help Vietnam build international financial hub
17:13 | 13/11/2024 Finance-Banking
Hundreds of damaged irrigation reservoirs need repairing
09:02 | 20/11/2024 Environment
Greening e-commerce crucial for sustainable development
10:47 | 18/11/2024 Environment
National Environmental Protection Plan ensures high quality living environment
08:59 | 18/11/2024 Environment
Super Typhoon Man-yi to move into East Sea on November 18
17:13 | 17/11/2024 Environment
People, community at heart of digital transformation: Deputy PM
09:26 | 21/11/2024 Science - Technology
AI is core technology of 4th Industrial Revolution: Minister
11:19 | 20/11/2024 Science - Technology
Global scientific luminaries to gather at VinFuture sci-tech week
11:08 | 19/11/2024 Science - Technology
Hà Nội to host 2024 e-commerce and digital economy forum on November 21
17:23 | 17/11/2024 Science - Technology
Việt Nam-UK Institute plans for an international university
09:14 | 21/11/2024 Society
Hanoi aims to become a smart city by 2030
09:13 | 21/11/2024 Metropolis
Huế Central Hospital boosts international cooperation to become global health hub
16:30 | 20/11/2024 Society
Hà Nội hospital partners with UK charity to provide surgeries for children with facial deformities
16:03 | 20/11/2024 Society
VN takes part in food and beverage fair in Chicago
09:45 | 20/11/2024 Vietnamese Brands
Hòa Bình honey awaits reactions from UK
10:41 | 19/11/2024 Vietnamese Brands
Post-Typhoon Yagi trade networking event starts in Hải Dương
10:04 | 19/11/2024 Vietnamese Brands
Hòa Bình exports honey and pearl onions to UK
10:17 | 16/11/2024 Vietnamese Brands
Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding
15:04 | 20/11/2024 Culture
Vietnamese designers tell stories of culture at Fashion Week
10:14 | 20/11/2024 Culture
Creative City promotes socio-economic development, says expert
09:59 | 20/11/2024 Lifestyle
Five Vietnamese creations listed among the world’s 100 best-rated dishes with coconut
10:54 | 19/11/2024 Culture
Blooming buckwheat flowers on Ha Giang roads
14:54 | 21/11/2024 Tourism
Folk cultural festival on Côn Đảo Island attracts tourists
10:07 | 20/11/2024 Tourism
Tra Que named among world’s best tourism villages in 2024
11:20 | 18/11/2024 Tourism
Quảng Ninh to attract more foreign tourists by year-end
16:52 | 14/11/2024 Tourism