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No. 53/2004/QD-TTg

Taxes:DTA Agreements

Date of Promulgation:

Date of Implementatio:2004-04-05




Independence - Freedom – Happiness

No. 53/2004/QD-TTg

Hanoi, April 5, 2004





Pursuant to the Law on Organization of the Government of December 25, 2001;

Pursuant to the Science and Technology Law of June 9, 2000;

Pursuant to the Land Law of November 26, 2003;

Pursuant to the Domestic Investment Promotion Law (amended) of May 20, 1998;

Pursuant to the November 12, 1996 Law on Foreign Investment in Vietnam; the June 9, 2000 Law Amending and Supplementing a Number of Articles of the Law on Foreign Investment in Vietnam; and the Government’s Decree No. 24/2000/ND-CP of July 31, 2000 detailing the implementation of the Law on Foreign Investment in Vietnam;

Pursuant to the June 17, 2003 Law on Enterprise Income Tax and the Government’s Decree No. 164/2003/ND-CP of December 22, 2003 detailing the implementation of the Enterprise Income Tax Law;

Pursuant to the May 19, 2001 Ordinance on Income Tax on High-Income Earners and the Government’s Decree No. 78/2001/ND-CP of October 23, 2001 detailing the implementation of the Ordinance on Income Tax on High-Income Earners;

Pursuant to the Government’s Decree No. 99/2003/ND-CP of August 28, 2003 promulgating the Regulation on Hi-Tech Parks;

At the proposal of the Minister of Science and Technology,


Article 1.- Regulation scope

This Decision prescribes a number of incentive policies for investment projects in hi-tech parks according to the provisions of Article 5 of the Regulation on Hi-Tech Parks, promulgated together with the Government’s Decree No. 99/2003/ND-CP of August 28, 2003.

Article 2.- Subjects of application

The subjects entitled to investment promotion policies prescribed in this Decision include:

1. Domestic and foreign organizations as well as enterprises and individuals being Vietnamese, foreigners or overseas Vietnamese having investment projects in hi-tech parks as prescribed in Article 1 of this Decision (hereinafter called investors for short).

2. Individuals being Vietnamese, foreigners or overseas Vietnamese working for investment projects in hi-tech parks as prescribed in Article 1 of this Decision.

Article 3.- Tax preference policies

1. Enterprise income tax 

Investors shall enjoy the enterprise income tax rate of 10% throughout the project execution duration; be exempt from the enterprise income tax for 4 years after taxable incomes are generated and enjoy 50% reduction of payable tax amounts for 9 subsequent years.

2. Income tax on high-income earners

Individuals being Vietnamese or overseas Vietnamese defined in Clause 2, Article 2 of this Decision shall be entitled to exemption or reduction of income tax on high-income earners to enjoy the same income tax rate applicable to foreigners having equivalent incomes.

Article 4.- Land use preferences

1. The single-price policy shall apply to investors, regardless of domestic or foreign investors, that lease land directly from the hi-tech park management boards.

2. Investors may mortgage their land-use right value and assets affixed to land in the land-lease or -sublease duration at credit institutions operating in Vietnam under law provisions.

3. Investors that execute technological research-development projects or projects on training high-level scientific and technological personnel shall be exempt from land rents according to the Government’s regulations.

Article 5.- Capital, credit and guaranty

1. Investors having production investment projects in hi-tech parks and operating under the Domestic Investment Promotion Law shall be considered by the Development Assistance Fund for provision of medium- or long-term credit loans with preferential interest rates, be provided with capital borrowing guarantee and post-investment interest-rate support according to the current regulations.

2. Investors shall be entitled to enjoy the State’s export support credit preferences when they directly export their products, and the application of the Export Reward Regulation according to law provisions.

Article 6.- Entry, exit and residence

1. Foreigners and overseas Vietnamese defined in Article 2 of this Decision and their family members shall be granted multiple entry and exit visas with a validity period suitable to their working or operating duration in hi-tech parks.

2. The subjects defined in Article 2 of this Decision shall be created favorable conditions on residence, be entitled to rent or purchase houses in hi-tech parks according to law provisions.

Article 7.- Other regulations

1. The single-price policy on public services prescribed by the State shall apply to the subjects defined in Article 2 of this Decision.

2. For particularly important investment projects, investors shall enjoy additional preferences under the Prime Minister’s decisions.

3. The Ministry of Science and Technology shall assume the prime responsibility for, and coordinate with the concerned agencies in, elaborating and submitting to the Prime Minister for promulgation incentive policies towards subjects working in the enterprise nurseries in hi-tech parks, scientists and technological research-development organizations operating in hi-tech parks.

4. Apart from the provisions mentioned in this Decision, investors shall also enjoy other preferential policies at the highest levels prescribed in relevant legal documents and international treaties which Vietnam has signed or acceded to.

In cases where international treaties otherwise provide for, the provisions of such international treaties shall apply.

Article 8.- Implementation provisions

This Decision takes implementation effect 15 days after its publication in the Official Gazette. All other regulations contrary to those in this Decision are hereby annulled.

The ministers, the heads of the ministerial-level agencies, the heads of the Government-attached agencies, the presidents of the provincial/municipal People’s Committees and the head of the Hi-Tech Parks Management Board shall have to implement this Decision.




Phan Van Khai



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