The Prime Minister has approved the establishment of the Hanoi Software Technology Park as a concentrated information technology (IT) one in Long Bien district.

Cau Giay concentrated IT park in Hanoi (Photo: ictnews.vn)

The park invested by Hanel Company Limited will operate in line with the Law on Enterprise and functions stipulated in the Government’s Decree 154/2013/ND-CP issued in November 2013.

It will also enjoy a number of incentives under the Decree and receive State budget and investment credit loans from the Vietnam Development Bank to build infrastructure in line with the Prime Minister’s master plan on developing concentrated IT parks.

The Decree stipulates the State will support investors of concentrated IP parks to invest in technical infrastructure system such as roads, electricity, clean water, water sewages, and other facilities.

The investors are also helped with land clearance and land lease.

Organisations or businesses implementing new IT investment projects at the parks will enjoy the application of 10 percent corporate income tax within 15 years, as well as tax exemption for four years and 50 percent tax reduction in nine following years.

VNA