HCMC – The Government has obtained endorsement from the National Asembly Standing Committee for proposed land rent exemptions for projects in semiconductor manufacturing, artificial intelligence (AI), and digital technology to support businesses and boost investment in these sectors, reported the local media.
The proposal, submitted to the NA Standing Committee, seeks to exempt or reduce land-use fees and rent for organizations such as innovation institutes and research and development centers in the digital sector.
Projects focused on producing key digital products, including software, semiconductors, and AI, would be eligible for full land rent exemption.
Finance Minister Nguyen Van Thang said the Government has also drafted measures to exempt or reduce land rent for additional cases. These include land for the headquarters of social policy banks, the Vietnam Development Bank and non-profit financial funds.
Cooperatives and cooperative unions leasing land for production and business purposes would also qualify for rent relief.
Land for scientific research, technology incubators, laboratories, and pilot production units would be exempt from rent under the proposal.
All members of the NA Standing Committee have voted in favor of a resolution endorsing the exemptions and reductions. The decision paves the way for a Government decree to implement the measures.
