On 1 February 2024, the Government passed Decree 10/2024/ND-CP on regulations on high-tech parks ("New Decree"), replacing the decree on the same subject (Decree 99/2003/ND-CP) passed over 20 years ago. The New Decree came into effect from 25 March 2024.
The New Decree provides new regulations on the establishment and expansion of high-tech parks, as well as incentives and support policies for investors in this field. For example, investors will be entitled to land lease fee exemptions, reimbursements for land clearance costs, and preferential policies in access to capital.
As a comprehensive regulation on high-tech parks, the decree also sets out details concerning the conditions, requirements and procedures that investors need to comply with when establishing high-tech parks in Vietnam.
