Danang has been growing to become attractive
destination for investment due to favourable conditions offered by the city
administration to bring foreign investor investing into hi-tech park.
Danang is one of the five large cities of
Vietnam and is the key economic hub of Central Vietnam. The location of Danang
is one of the important gateway to the sea of the Central Highlands and Laos,
Cambodia and Thailand to the Northeast Asia countries through the East-West
Economic Corridor, and located in one of the international sea routes and air
routes. Danang has a geographic location that is particularly conducive to rapid
and sustainable development.
Danang Hi-tech Park was established in
accordance with Decision No.1979/QD-TTg dated October 28th2010, after two
Hi-tech Parks in Hanoi and Ho Chi Minh City, with the hope of developing the
science and technology of Da Nang, the Central Region and Central Highlands of
Vietnam. Covering an area of 1,129.76 hectares and the infrastructure is
gradually being completed with production areas, research and development,
training and nursery enterprises, administrative management, housing,
logistics, logistics and high- tech services. Da Nang Hi-tech Park is expected
to be the attractive place where domestic and foreign investors favourable
infrastructure and incentives. Danang Hi-tech Park shall give priority to the setting up of company in
high-tech areas i.e. bio-technology for agriculture, fisheries and health;
microelectronics, mechatronics and optoelectronics, automation and precision
engineering; information technology, communication, informatics software;
petrochemical service technology. Danang is a priority city for the development
of environmentally friendly industries and services, therefore investors will
not be allowed to trade in industries that threaten to pollute the environment
and affect national security or industries using obsolete technologies.
In addition to the infrastructure development,
Danang also offers investment incentives to attract domestic and foreign investors
to invest in Danang Hi-tech Park such as Decision No. 36/2013/QD-UBND and most
recently Decree No. 04/2018/ND-CP will take effect from February. Decree No.
04/2018/ND-CP has given great investment incentives to investors when investing
in Danang Hi-tech park. Having policies to attract domestic investment and FDI,
whereby investors invest in Danang Hi-tech Park will be exempted from all or
part of land rent and site clearance in some specific cases. In addition, when
investing in Danang Hi-tech Park, the enterprises will be entitled to corporate
income tax incentives for 15 to 30 years and exemption on corporate income tax
for 4 years, and reduction of 50% for 9 years later to enterprise having new
investment projects. Goods imported to be fixed assets in Hi-tech Park or
machinery and equipment which cannot be produced at domestic will be exempted
from import tax. In addition, experts and workers who are foreigners/overseas
Vietnamese working in Hi-tech park and their family members may be considered for
issuance of multiple entry and exit visas with appropriate time limits for
entry purposes in accordance with the laws.
The economics of Danang is growing and the
special incentives have been offered to attract investment from the city
administration. This is the opportunities for investors both domestic and
foreigners to invest in Danang.
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