Regulations on hi-tech park investment management in Vietnam in 2024

Regulations on hi-tech park investment management in Vietnam in 2024 (Image from the Internet)

1. Conditions for establishing hi-tech parks

Article 5 of Decree 10/2024/ND-CP stipulates the conditions for establishing a hi-tech park as follows:

* General conditions:

- Conform to regional and provincial planning approved by competent authorities;

- Have a suitable and feasible land scale; suitable natural conditions;

- Have favorable infrastructure and transportation conditions;

- Have the ability to connect with high-level research and training institutions;

- Have a feasible plan for human resources and a professional management team for the hi-tech park;

- Have a feasible plan to mobilize resources to invest in constructing technical infrastructure systems, social infrastructure for the hi-tech park; ensure the balance of the state budget (if any);

- Have a feasible plan for building residential areas, public buildings adjacent to or around the hi-tech park to ensure serving the lives of experts and workers in the hi-tech park according to the needs and progress of the hi-tech park construction;

- Meet the environmental protection conditions as stipulated by environmental protection laws;

- Ensure national defense and security.

* Conditions for the establishment of hi-tech parks as stipulated in Article 31 of the High Technology Law 2008:

- Meet the conditions stipulated in Clause 1, Article 5 of Decree 10/2024/ND-CP;

- Conform to the State's policies on high technology and high-tech industry development;

- Meet the conditions to implement tasks stipulated in Clause 2, Article 31 of the High Technology Law 2008;

- Have a feasible plan to provide technical infrastructure and convenient services to meet the requirements for high technology research, application, and development; high technology incubation, high-tech business incubation; high-tech product pilot production; high-tech service provision.

* Conditions for the establishment of high-tech agricultural application parks as stipulated in Article 32 of the High Technology Law 2008:

- Meet the conditions stipulated in Clause 1, Article 5 of Decree 10/2024/ND-CP;

- Conform to the agricultural development strategy and plan;

- Meet the conditions to implement tasks stipulated in Clause 2, Article 32 of the High Technology Law 2008;

- Have a feasible plan to provide technical infrastructure and convenient services to meet the requirements for high technology research, training, testing, and demonstration in the agricultural field.

2. Regulations on hi-tech park investment management in Vietnam in 2024

Article 19 of Decree 10/2024/ND-CP stipulates the hi-tech park investment management in Vietnam as follows:

- The hi-tech park management board is the investment registration agency and performs state management tasks on investment activities in the hi-tech park within the scope of tasks, powers, and related regulations of the law.

- Investment projects in the hi-tech park must comply with the investment laws, related legal regulations, and the conditions, principles, and criteria specified in Articles 24, 28, and 35 of Decree 10/2024/ND-CP for each corresponding type of investment project.

- If the investment project is subject to investment policy approval or issuance of an Investment Registration Certificate, the investor is responsible for explaining and committing to ensuring the conditions, principles, and criteria specified in Articles 24, 28, and 35 of Decree 10/2024/ND-CP for each corresponding type of investment project in the application file for investment policy approval/issuance of an Investment Registration Certificate. The competent authority approving the investment policy/issuing the Investment Registration Certificate will assess this content during the appraisal process for investment policy approval/issuance of the Investment Registration Certificate. Details of the commitment to meeting the conditions, principles, and criteria specified in Articles 24, 28, and 35 of Decree 10/2024/ND-CP by the investor will be recorded in the Investment Policy Approval Decision/Investment Registration Certificate which serves as the basis for monitoring, evaluating investment, inspecting, and handling violations according to the 2020 Investment Law and related legal regulations.

- If the investment project involves high technology activities that do not require investment policy approval or issuance of an Investment Registration Certificate, the investor is responsible for explaining and committing to ensuring the principles and criteria specified in Articles 28 and 35 of Decree 10/2024/ND-CP for each corresponding type of investment project in the procedure for confirming that the investment project meets high technology operation principles as stipulated in Article 26 of Decree 10/2024/ND-CP.

- The hi-tech park management board shall annually or irregularly review and evaluate the implementation of the conditions, principles, and criteria specified in Articles 24, 28, and 35 of Decree 10/2024/ND-CP for investment projects.

- The hi-tech park management board shall monitor and evaluate the investment, construction, and development of the hi-tech park; monitor, evaluate, and cooperate with related agencies, infrastructure investment owners to inspect, and check the contents specified in the Investment Policy Approval Decision/Investment Registration Certificate or the document confirming that the investment project meets high technology operation principles stipulated in this Decree, the implementation of planning, construction, land, environmental protection, science and technology requirements, and related legal regulations; guide and resolve difficulties during the implementation of investment projects in the hi-tech park; coordinate handling of administrative violations according to legal regulations, decide to suspend or partially suspend, terminate or partially terminate investment project activities in the hi-tech park according to investment law regulations.

- Based on the development strategy and plan of each period, the hi-tech park management board shall develop and submit to the provincial People's Committee for issuance the List of Investment Attraction Projects in the hi-tech park after consulting the Ministry of Science and Technology for hi-tech parks stipulated in Article 31 of High Technology Law 2008 and the Ministry of Agriculture and Rural Development for high-tech agricultural application parks stipulated in Article 32 of High Technology Law 2008.

To Quoc Trinh

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE