Legal Counselling

Vietnam: Employees working in Hoa Lac hi-tech park are provided with houses

17:22, 17/08/2017

Recently, the Government of Vietnam issued Decree No. 74/2017/ND-CP on specific policies for Hoa Lac hi-tech park. Policies on building houses provided for employees working in the hi-tech park are specified as follows:

1. Hanoi people’s committee shall allocate sufficient land for building houses provided for employees working in the hi-tech park. The State encourages and enables organizations and individuals to invest in housing development (including technical infrastructure, social infrastructure and housing constructions).

2. Measures to assist housing development.

- Entities running projects on constructing houses provided for employees working in the hi-tech park shall be given incentives in terms of taxes, land rents and land levies in accordance with regulations of applicable law and this Decree.

- Organizations and individuals running projects on housing shall not include the sums invested by the state, financial incentives in terms of taxes, land rents and land levies in house price and house rent price.

3. The management board shall issue regulations on managing and using houses provided for employees working in the hi-tech park.

4. The Ministry of Science and Technology shall submit to the Prime Minister additional incentives for houses provided for employees working in the hi-tech park suitable for each period and stage of the hi-tech park’s development for decision.

View more details at Decree No. 74/2017/ND-CP of Vietnam’s Government, effective from August 05, 2017.

- Ngoc Duyen -

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