Hi-tech park partners with FPT to provide services, attract tenants

 

 

Nearly two years ago, the management board gave an investment licence to Noble VN. The company has completed building work on its facilities and as of last September employed more than 200 workers. The company has a total import/export turnover of US$4million and has contributed nearly VND2 billion (US$125,000) in tax to the State budget.

 

The company now plans to invest a further US$10 million in the industrial zone, which is expected to create around 800 jobs.

 

The industrial zone’s management board has also granted investment licences to OE TEK to produce fibre optic components and the Industrial and Commercial Bank of Viet Nam (Incombank) for their IT training project.

 

In addition, the management board has signed investment agreements with groups such as the Financing and Promoting Technology Corporation (FPT, which has set up a private university), Hanoi Telecommunication Joint Stock Company for its IT Training and Research Centre and Ha Noi Institute of Hygiene and Epidemiology for its Biological and Medical Research Centre.

 

 

There will be many hi-tech companies investing in the park when it is completed. The park will have many research and education centres and universities that will provide IT training. When the park is completed, tax revenue from companies based in the park will go to the State. In the future, Viet Nam will be one of the most powerful IT countries in the region and also the world.

 

It is anticipated that Hoa Lac Hi-Tech Park will create some 50.000 jobs.

 

 

Prime Minister Nguyen Tan Dung has assigned FPT the task of developing the park. The company will act as an independent business and will be under the management of the Government and its authorised agencies according to the Enterprise Law.

 

FPT has the right to build and develop the park, build and trade infrastructure projects and carry out services that support investment within the park.

 

The management board will act on the Government’s behalf.

 

 

The main priority of the Government is to develop the high-tech sector. Accordingly, under the decision of the Prime Minister, every business that invests in the park will be entitled to an unchanged income tax rate of 10 per cent throughout the length of their project. In addition, businesses will not have to pay income tax for four years, and will receive a 50 per cent discount thereafter for the next eight years.