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The Government has issued a decree defining special mechanisms and policies for the Hoa Lac Hi-Tech Park in Hanoi, including a 10 percent corporate income tax in 30 years for new projects with an investment from 4 trillion VND (176 million USD).

Projects,which were licenced before May 23, 2015 when the Prime Minister approved the park’s planning and are operating in the park, will enjoy preferential policies stated in licenses.

The decree also clarifies that the Government encourages and backs organisations and individuals to invest in building and developing homes for labourers working in the park through support in tax and land rent, land use fee.

Investors and experts being overseas Vietnamese and foreigners and their family members are considered for the issuance of multiple entry visas to Vietnam with a time limit suitable to their working schedule in the park.

Along with the support, organisations and individuals will enjoy other preferential policies in line with the law when they satisfy all necessary conditions.

For special projects that need to be attracted to the park, the Ministry of Science and Technology shall proposes the Prime Minister decide whether to grant additional investment incentives and support.