HCMC – The National Assembly (NA) Standing Committee has approved the establishment of the Investment Support Fund to boost investment and economic development, according to the Baochinhphu news site.
On December 11, the committee reviewed a draft decree on the fund, which aims to improve the business environment, enhance national competitiveness, and attract foreign direct investment (FDI) in high-tech industries.
Eligible beneficiaries include high-tech companies, businesses engaged in high-tech production and application projects, and technology research and development centers.
The committee emphasized the need for clear criteria for eligibility and support to ensure fairness, transparency, and adherence to existing laws and international commitments. The Government was urged to develop policies scientifically and transparently, removing unnecessary administrative hurdles and avoiding favoritism that could lead to complaints.
The fund is proposed to operate as a public service unit under the Ministry of Planning and Investment, with legal status and financial autonomy.
To qualify for support, businesses must meet at least one of the following conditions: Have an investment project with minimum capital of VND12,000 billion or achieve annual revenue of at least VND20,000 billion. For research and development centers, the minimum capital requirement is reduced to VND3,000 billion.
Priority support will be given to projects in chip industries, integrated semiconductor circuits, and artificial intelligence, requiring minimum capital of VND6,000 billion or annual revenue of VND10,000 billion.
The fund’s primary capital will come from the State budget, specifically through additional corporate income tax allocations under the State Budget Law. The Ministry of Finance estimates the initial funding at around VND14,600 billion.
