Financial support for innovation: Tax incentive in Saigon Hi Tech Park

Are you an innovative tech company looking to expand your horizons and thrive in a dynamic business environment? Look no further than Saigon High-Tech Park (SHTP), a haven for cutting-edge technology and forward-thinking enterprises. SHTP not only offers state-of-the-art infrastructure but also presents an array of lucrative tax incentives.  Tax incentive in Saigon Hi Tech Park designed to fuel your business growth and technological innovation.

Priority Sectors for Investment

Tax incentive in saigon hi tech park encourage international partnerships

At Saigon Hi Tech Park-OneHub, the emphasis is placed on attracting investments in specific technology sectors to foster innovation and economic growth. The priority sectors eligible for tax incentive in Saigon Hi Tech Park include:

Microelectronics, Information Technology, and Telecommunications

The microelectronics, information technology, and telecommunications industries play a vital role in driving technological advancements and digital transformation. By encouraging investments in these sectors, SHTP aims to create a vibrant ecosystem for research and development, manufacturing, and service delivery.

Precision Mechanics, Automation, and Robotics

In today’s fast-paced world, precision mechanics, automation, and robotics have become crucial in increasing efficiency and productivity across various industries. Companies investing in these cutting-edge technologies are eligible for favorable tax rates to promote their growth and adoption.

Advanced and New Materials, and New Energy Technologies

The pursuit of sustainable and renewable energy sources has become imperative for the future. Saigon Hi Tech Park welcomes investments in advanced and new materials, as well as new energy technologies, to support the development of eco-friendly solutions and products.

Biotechnology for Pharmaceuticals and the Environment

The biotechnology sector has shown remarkable potential in revolutionizing healthcare and environmental preservation. SHTP encourages investments in biotechnology projects focused on pharmaceuticals and environmental applications to address pressing global challenges.

Corporate Income Tax (CIT) Incentives

Saigon Hi Tech Park offers attractive corporate income tax incentives to promote business growth and technological advancement. The CIT incentives are designed to provide a competitive advantage to companies operating within the park.

Reduced CIT Rates for Specific Periods

Companies establishing their presence at SHTP can benefit from reduced CIT rates for specific time frames. This includes a favorable CIT rate of 10% for 15 years, comprising four years at 0%, nine years at 5%, and two years at 10%.

Long-Term CIT Incentives for Hi Tech Projects

Large-scale projects that leverage high technology and align with the government’s investment encouragement policy may enjoy a reduced CIT rate of 10% for a maximum period of 30 years. This long-term incentive is aimed at attracting significant investments in advanced technological ventures.

CIT Incentives for Socialized Fields

To support vital sectors like education and environmental protection, SHTP offers a flat CIT rate of 10% throughout the project duration for income derived from educational, vocational training activities, and environmental services.

Import and Export Duty Exemptions

Tax incentives attract companies for efficient production processes

SHTP provides import and export duty exemptions to foster research and development activities and facilitate the acquisition of essential equipment and materials.

Import Duty Exemption for Project Assets

Companies investing in SHTP can import machinery, equipment, and specialized means of transport for their projects without incurring import duties. Additionally, raw materials and materials not produced domestically for the technology production line can be imported without import duties.

Import and Export VAT Exemption

Goods imported for scientific research and technological development purposes are exempt from import duties and value-added tax at 0%. This exemption supports innovation-driven activities within the park.

Other Incentives

Guidance for expanding into international markets

In addition to tax incentive in Saigon Hi Tech Park , we also  provide several other incentives to enhance the overall investment experience and foster a conducive environment for business growth.

Access to Information and Training Support

Companies at SHTP enjoy free access to the park’s information library, ensuring they stay up-to-date with the latest trends and developments in their respective industries. Moreover, the park offers training support for employees to enhance their skills and knowledge.

Financial Support from the Ho Chi Minh City Science and Technology Development Fund

Investors at SHTP can access preferential loans and grants from the Ho Chi Minh City Science and Technology Development Fund, providing a financial boost to their innovative projects.

Multiple-Entry Visas for Foreigners

Foreign investors and professionals benefit from multiple-entry visas, easing the process of traveling to and from SHTP for business purposes.

Conclusion

Tax incentive in Saigon Hi Tech Park, coupled with its commitment to technological advancement and innovative research, make it a prime destination for businesses seeking to thrive in the ever-evolving global landscape. By providing an array of attractive benefits, the park continues to drive progress and establish itself as a hub for transformative technological ventures in the region.