The government has signed a decision to establish the Hanoi Software Technology Park located in Phuc Loi ward, Hanoi's Long Bien district.

The park, invested by Hanel Company Limited, is set up under the business model and will operate under the Enterprise Law.

 According to the government decision, the Hanoi Software Technology Park will be given preferential policies towards an information technology concentration area stipulated in the Decree No.154/2013/NĐ-CP and other preferential treatment applied to an information technology concentration area.

The government will assist the project's investor in investing in infrastructure including roads, electricity, water supply, land clearance, and land rental charges, among others.

In addition, enterprises who invest in new projects in the field of information technology at the park will enjoy a four-year tax exemption, a corporate income tax rate of 10% over 15 years, and a reduction of 50% of tax payment in the next nine years for the corporate income from the project carried out at the park.

Earlier, the Hanoi municipal People's Committee submitted a proposal on the establishment of the park with a total area of 43ha and an investment of VND10.5 trillion (US$472.5 million). The project is scheduled to be completed by 2019.

Source: Nhan dan