The Ministry of Finance has proposed additional regulations on personal income tax reductions for high-tech human resources working at enterprises, including high-tech agricultural enterprises, and in information technology (IT) projects.

Under the current Law on Personal Income Tax, personal income tax incentives do not apply to high-tech personnel, even though this workforce is essential and requires appropriate development incentives.

The Law on High Technologies also stipulates that the State focus on investing in developing high-tech human resources to reach regional and international levels, and apply special preferential mechanisms and policies to train, attract, and effectively use high-tech human resources domestically and internationally.

The priority is on investing in the development of high technology in four fields: IT, biotechnology, new material technology, and automation technology.

The Law on High Technologies also assigns the government to adjust and supplement fields of technology that need to be concentrated on to develop according to socio-economic development needs and national defense and security, ensuring that high technology prioritized for development in these fields aligns with advanced scientific and technological development trends in the world, leveraging Vietnam’s advantages and meeting specific conditions.

The development of science and technology and high-tech human resources are also key factors in boosting workplace productivity and promoting economic growth.

To further develop science and technology, it is necessary to adopt policies focusing on attracting highly-qualified individuals to participate in fields such as IT and priority areas such as agriculture and agricultural product processing. Similar policies have been introduced by several countries worldwide.