4.16.2015

Investment Incentives for IT area in Vietnam

VIETNAM IS ATTRACTING INVESTORS FROM AROUND THE WORLD TO MAKE INVESTMENT THROUGH SETTING UP IT SERVICE COMPANY IN VIETNAM
Since 2010, Vietnam has initiated and invested more resources in the information technology which has been realized as an area that could create a competitive edge for Vietnam.  Recently, the Vietnam government has put a legal frameworks to attract more investment in this area, with the issuance of Decree No.154/2013/ND-CP, taking effect from Jan 1st, 2014 guiding particularly on management of the focused information technology areas.
Accordingly, the enterprises at focused information technology areas will enjoy tax benefits i.e. income tax rate of 10% within 15 years, in some specific cases, extended to 30 years; exempt 50% within 5 continuous years. They are exempted the import tax when importing goods to build fixed properties, manufacture such as machines, equipment, parts, assembles.
Besides, these enterprises may enjoy convenient conditions in customs procedure, incentives in export tax, investment credit, import credit and favorable policies for enterprises business in high technology area.
The focused information technology area must have at least 2,000 employees specialized in information technology; in case of emphasizing in software manufacture, digital content, information technology service, 1,000 specialized employees will be employed at least. 

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