On 1st February 2024, the Government issued Decree No. 10/2024/ND-CP which comes into effective since 25th March 2024 regulating the Hi-tech parks policies (“Decree 10”). This is to create a new legal framework for operation of hi-tech parks in compliance with the current laws on investment, land, planning, and technology transfer, and other relevant laws. Decree 10 also formalizes certain policies that have already been implemented in some hi-tech parks, thereby unifying the management of hi-tech parks nationwide. Notable contents of the decree include:

Key principles and conditions for establishment and expansion of high-tech parks:

The key conditions for establishing a high-tech park include satisfying master zoning and land use plans, having the necessary infrastructure and favorable transportation links, feasible plans for skilled personnel and professional management, capital resources, and practical schemes for constructing adjacent housing and public works to serve the needs of specialists and employees. Other requirements are meeting environmental protection standards, and ensuring national defense and security. Although these conditions are enumerated by law, there remains some uncertainties in how they will be applied in practice, as it seems to be subject to government’s discretion in interpreting these factors on a case-by-case basis

Existing hi-tech parks can be expanded if their occupancy rate is 60 percent or higher, in addition to meeting other conditions related to master zoning, location, and having the scale and infrastructure in place to ensure convenient connections to the technical and social infrastructure already deployed in the high-tech park.

Investment and development capital for high-tech parks can come from state resources, as well as private capital from individuals and organizations. The government encourages and supports investment in high-tech parks by prioritizing the use of official development capital (ODA), state investment credit capital, and facilitated procedures for raising capital. The state budget gives priority to constructing high-tech research and development facilities as well as large-scale laboratories meeting international standards for research, analysis, testing, and quality control within high-tech parks. 

Incentives:

High-tech parks are designated as investment incentive zones, especially for areas with extremely difficult socio-economic conditions. Specific incentives and levels of support for investment projects and activities in high-tech parks will be provided in accordance with regulations on investment, corporate income tax, import-export duties, land, credit, and other relevant regulations.

Policies to develop social infrastructure to serve workers in high-tech parks

The social infrastructure system includes cultural facilities, parks, gardens, green spaces and recreation complexes for public use. Housing and social infrastructure must be planned with strong connectivity to high-tech parks to serve those working in them. The Provincial People's Committee is responsible for planning housing areas and social infrastructure adjacent to or surrounding the high-tech parks (outside the park boundaries). This is to ensure convenient transportation links that directly serve the public.

Workers in high-tech parks, including investors and specialists or employees working in the parks, are allowed to rent, buy, or lease-purchase houses and accommodation facilities. In particular, priority for housing purchase assessments will be given to employees of the Management Board, as well as specialists and employees with indefinite labor contracts with investors in the high-tech parks.

Policies for export processing enterprises in high-tech parks: 

Export processing enterprises located in high-tech parks can be treated as if they are in non-tariff zones for customs purposes, if they meet conditions related to customs inspection and supervision. This allows them to follow the specific regulations applied to export processing enterprises in industrial and economic parks.