Preferential policies designed for Da Nang hi-tech park hinh anh 1Da Nang hi-tech park (Photo: baodautu)

Hanoi (VNA) – The Government has issued a decree on preferential policies for the hi-tech park of the central city of Da Nang.

Decree 04/2018/ND-CP clarifies that the city will receive central budget to implement projects and works in the park as well as national programmes on developing the park.

Each year, if a central budget collection review finds it exceeds the plan, the Government will ask the National Assembly Standing Committee to prioritise capital for the city to complete infrastructure for the park in 2020.

The Government will also mobilise official development assistance (ODA) for Da Nang to build technology and social infrastructure, public works, training and technology application and development centres, and hi-tech enterprise incubator. The city will cover corresponding capital for the projects.

The document also regulates many preferential policies in tax, land use, ground clearance, and credit for firms in the park.

Specifically, along with land use tax exemption for specific cases, the decree also gives preferential corporate income tax of 10 percent in 15 years for new projects in the park. Projects with capital from 3 trillion VND will enjoy a tax rate of 10 percent in 30 years.

The decree will take effect from February 20.-VNA