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| Diem Thuy Industrial Park in Thai Nguyen province (Illustrative image)__Photo: Danh Lam/VNA |
The Government has introduced several favorable policies and support measures for the development of cottage industry zones.
According to Decree 32/2024/ND-CP dated March 15, 2024, on the management and development of cottage industry zones, the Government also provides investment incentives for cottage industry zones located in areas facing challenging socio-economic conditions and considers the construction of technical infrastructure for cottage industry zones as a specialized industry eligible for investment incentives.
The decree also prescribes that local budgets allocate resources to support investment and the development of technical infrastructure both within and outside cottage industry zones in the region with priority given to investment in environmental protection infrastructure for operational cottage industry zones.
Support will be extended to essential shared technical infrastructure projects in areas facing socio-economic difficulties or extreme socio-economic difficulties, as well as to cottage industry zones focusing on sectoral integration, ecology, support services, and traditional craft conservation.
The State will support up to 30 percent of the total investment capital required for technical infrastructure construction in cottage industry zones, says the decree.-(VLLF)
