HANOI: On the morning of April 26, during a session of the National Assembly Standing Committee (NASC), the Government presented a proposal to exempt and reduce land rent for projects involved in the production of key digital technology products, software, semiconductors, artificial intelligence (AI), concentrated digital technology zones and the National Innovation Centres.
According to Minister of Finance Nguyen Van Thang, the Government proposed a total of 13 policy groups concerning exemptions and reductions in land use fees and land rent to support key economic sectors.
In particular, the exemption of land rent for research units, innovation centres and research facilities operated by science and technology enterprises is expected to provide strong momentum for the development of the digital technology industry in the coming period.
Minister Thang said that the draft Law on the Digital Technology Industry was currently being developed, featuring several preferential provisions aimed at accelerating growth in the sector. Expanding the scope of land rent exemptions and reductions would help lower investment costs, enabling digital technology businesses to expand production and hasten the national digital transformation process.
Additionally, the Government proposed a 30 per cent reduction in land rent payable in 2025, with broader application than in 2024. The aim was to support citizens and businesses in developing production and business activities, striving to achieve an economic growth target of eight per cent in 2025.
After hearing the report, the NASC agreed in principle to allow the Government to issue a decree stipulating additional cases eligible for land use and land rent exemptions and reductions in 2024, and to expand the scope further in 2025.
Deputy Chairman of the National Assembly Vu Hong Thanh emphasised that the Government must be responsible for the accuracy of information and data provided and ensure the state budget remains balanced within the approved deficit limits.
The adoption of these land rent exemption and reduction policies is expected to provide significant support for enterprises amid current challenges, while laying a foundation for promoting the digital economy, high-tech industries, and contributing to the sustainable growth of the national economy. - Vietnam News/ANN
