Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Tuesday, June 28, 2022

National Innovation Center to be built under special mechanism

Updated: 14:30’ - 07/08/2019
All activities related to construction and formulation of management and operation model of the National Innovation Center (NIC) would not undergo normal procedures but follow a special and fast-track process.

Prime Minister Nguyen Xuan Phuc works with leaders of some ministries and sectors on the establishment of the National Innovation Center__Photo: Internet

This is one of the prominent preferences provided in a draft decree prepared by the Ministry of Planning and Investment.

Accordingly, contractors and investors to provide bidding packages and projects at the NIC would be selected under plans approved by the Minister of Planning and Investment under the mechanism applicable to special cases prescribed in Article 26 of the Bidding Law.

The NIC would be allocated a land plot at Hoa Lac Hi-Tech Park’s R&D Zone for a period of 50 years and, more importantly, enjoy land rental exemption for the whole land use duration.

The center could apply the wage mechanism like enterprises. It would also be entitled to receive funds allocated from the state budget to pay compensation for site clearance and expenses for ground leveling. Additionally, it would not be required to carry out procedures for appraising land use needs and pay security deposit for project implementation.

Investors, experts and workers who are overseas Vietnamese or foreigners working directly at the center and their family members would be helped to apply for entry visas and work permits with validity periods suitable to their working periods at the center.

The draft also offers several incentives for innovative startups, saying that those selected by the NIC or its partners to participate in incubation or acceleration programs would be entitled to preferences regarding working space, tax and administrative procedures for up to three years.

Pending the issuance of legal documents regulating their products, services or business models, startup entrepreneurs and businesses would still be allowed to develop their own business models to sell their products or provide their services to the market, unless such products and services are banned by law or cause negative impacts to national defense or security, the environment, fine traditions and customs, or community well-being.- (VLLF)

Send Us Your Comments:

See also:


Vietnam Law & Legal Forum