Tech park to boost science spending hinh anh 1The blueprint of the Hoa Lac Hi-Tech Park (Source: MOST)

Hanoi (VNA) – The Hoa Lac Hi-Tech Park (HHTP) expects to boost science and technology projects by providing preferential treatments on property issues for potential hi-tech companies.

Pham Dai Duong, Deputy Minister of Science and Technology and also Director of HHTP, told local media on November 17 that tax exemption is a part of the draft decision that the HHTP has recently submitted to Prime Minister Nguyen Tan Dung and the Ministry of Science and Technology to collect opinions from other ministries on preferential treatments for the park to attract more hi-tech investments.

"The preferential treatments on property issues are aimed at reducing the costs for hi-tech companies when they make investments in the HHTP" Duong said.

At the moment, hi-tech companies have to pay local authorities large amounts as fees for renting land after local authorities buy it from the locals to build infrastructure for hi-tech investments, he said. This actually raises costs for hi-tech companies and discourages them from making investments in the HHTP.

The draft decision also proposed to the Government that they reduce taxes for hi-tech companies that have either already invested in the HHTP or are present in the hi-tech park for the first time, Duong added.

"Those that are already present in the hi-tech park will also receive tax exemption to boost their performances and create more value for the country's science and technology development," he said.

The HHTP also proposed that the Government approve a one-shop mechanism that allows the hi-tech park to assist companies with administrative procedures to save time and costs, Duong said.

The hi-tech park now has representatives from government agencies such as customs and public security agencies, he said, and added that there will be more government officials representing the hi-tech park.

Moreover, the hi-tech park wanted to receive capital from the State, including the state budget and Japan's Official Development Assistance (ODA), and financial contribution from hi-tech investors in order to create a modern infrastructure and facility for hi-tech projects by 2020, he said.

Duong said that the draft decision is expected to be approved and issued at the end of this year, and HHTP has received positive comments and strong support from some government agencies such as the Ministry of Natural Resources and Environment, the Ministry of Finance and Hanoi People's Committee.

Hi-tech companies in the park and potential investors have also expressed high expectations in the proposal being approved, he added.

However, the most difficult issue for the HHTP now is how to convince different government agencies to agree with the proposal and how its board can improve the quality of its staff to create the best conditions for hi-tech investors.-VNA