Businesses operating in the field of science and technology in northern Hai Phong city will benefit from land rent exemptions and reductions starting this November, according to the municipal People’s Committee.
Under the policy, qualified enterprises will be exempt from land and water surface rental fees for 15 years from the date of the land lease decision, followed by a 50% reduction for the next nine years.
To be qualified, enterprises must be engaged in scientific and technological production, business, or service activities that create products or goods derived from scientific research and technological development results recognized by a competent authority.
Hai Phong is currently home to 76 science and technology enterprises, and the number is expected to increase to 150 by 2030 as the city intensifies efforts to attract and support innovative businesses.
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