TPO - The Ministry of Planning and Investment has proposed additional incentives for the National Innovation Center (NIC), regarding land and taxes; and the establishment of a national innovation investment fund...
In the draft decree replacing Government Decree 94 on mechanisms and preferential policies for NICs, the Ministry of Planning and Investment proposes adding several incentives compared to current regulations.
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NIC Hoa Lac facility. |
Specifically, NIC is proposed to receive several land and tax incentives. Accordingly, the center will be allowed to lease land for 50 years in high-tech zones, with a full exemption from land rent for the entire lease term. The center will not be subject to land rent if it uses assets attached to the land for business, leasing, joint ventures, or partnerships.
For the Hoa Lac facility, NIC is subject to the above regulations; exempted from infrastructure usage fees for the leased land area located within the area where infrastructure usage fees are normally payable (for technical infrastructure projects invested by the state); and exempted from all compensation, land clearance, support, and resettlement costs. The state budget will fully support the land leveling costs of the central facility investment project.
The Center is exempt from import duties on goods imported for the creation of fixed assets, and on goods imported directly for scientific research, technology development, technology incubation, science and technology enterprise incubation, and technological innovation, as stipulated in the Law on Export and Import Taxes.
NIC Hoa Lac is exempt from import tax on raw materials, supplies, and components that are not produced domestically, imported for production purposes, for a period of 5 years from the start of production. The center also enjoys preferential corporate income tax rates.
The center also receives and utilizes grants and donations.
Regarding financial and investment mechanisms, the Ministry of Planning and Investment has added a priority allocation of public investment capital and state budget funds to the center… The State will provide annual operating funds until 2030. The level of support will be based on annual and quarterly performance results and annual audit results, with a view to gradually increasing financial autonomy.
This proposal also suggests establishing a national innovation investment fund, operating as a limited liability company or joint-stock company. The fund's charter capital would be contributed by the NIC and other businesses, investment funds, organizations, and individuals.
The fund's capital is managed and utilized according to market principles, accepting the possibility of risk. The fund's charter is approved by the Minister of Planning and Investment. The fund invests in startups and innovative businesses both domestically and internationally, including venture capital; financing innovation and startup activities; and providing scholarships, etc.
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NIC is proposed to carry out a number of activities including consulting, networking support, exhibitions, conferences, and forums. |
In terms of service provision, NIC carries out a number of activities including consulting, networking support, exhibitions, conferences, and forums on innovation and entrepreneurship; providing investment networking services, training, research, etc.
NIC is a unit under the Ministry of Planning and Investment, established by the Prime Minister (Decision No. 1269/QD-TTg dated October 2, 2019). The Center's function is to support and develop the innovation and startup ecosystem, contributing to the transformation of the growth model based on the development of science and technology.
Recently, after nearly three years of construction, the Hoa Lac NIC facility commenced operations in October 2023. The total investment was 750 billion VND, mobilized from sources outside the state budget, through contributions from businesses.
Source: https://tienphong.vn/de-xuat-nhieu-uu-dai-cho-trung-tam-doi-moi-sang-tao-quoc-gia-post1659882.tpo
