Hanoi is going to welcome the field of semiconductor industry

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​Always ready to accompany your business

As an economic center and convergence of many universities, science and technology research centers, in addition to its great potential, diversity and central location in the Red River Delta, Hanoi City has the conditions to synthesize for attracting foreign investment. In addition, the system of training facilities and infrastructure is gradually improving and modernizing which is also one of the advantages to support investors in implementing projects effectively...

Assessing the situation of attracting foreign investment capital in recent times, speaking at the seminar "Developing an ecosystem for the semiconductor industry and connecting investment", Deputy Director of the Department of Planning and Investment Hanoi investor Vu Duy Tuan said that in recent years, Hanoi City has had specific policies to attract foreign investment as well as mechanisms to support businesses in investment, production and business activities in the area. Accordingly, Hanoi has had a consistent and oriented view of selectively attracting investment, with priority given to receiving projects applying high technology, clean technology, and environmentally friendly technologies with products of highly competitive commercial value to participate in the global value chain and supply chain.

In addition, Hanoi City is always ready to accompany businesses to implement projects such as facilitating investment procedures, as well as ensuring the provision of essential infrastructure services such as electricity, water, etc. wastewater and waste treatment as well as logistics services. At the same time, Hanoi City actively supports businesses in training high-quality human resources to serve the operation of investment projects. According to the current mechanism of Hanoi City, the industrial sector will implement preferential mechanisms to attract investment such as corporate income tax exemption for the first 4 years, 5% tax for the next 9 years and increase to 10% over the next 15 years. Hanoi also exempts import taxes on imported goods to create fixed assets with raw materials, supplies as well as components to implement investment projects according to the list.

“In addition, Hanoi also has a policy of exempting and reducing land rent and land use fees and is ready to support businesses in accessing credit capital sources with preferential interest rates. Along with that, the city supports businesses in connection, trade promotion, logistics services as well as product brand registration as well as support for participating in trade fairs and exhibitions", Deputy Director of the Department of Planning and Investment said.

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In the first 9 months of 2023 alone, Hanoi City has led the country in attracting FDI capital, with a total investment capital of 2.6 billion USD. Illustration photo: Internet.

Build investment attraction advantages

According to the assessment of many experts, with its central position, synchronous infrastructure, concentrated human resources, specific policy mechanisms... Hanoi City has a lot of potential to attract foreign investment. Up to now, Hanoi City has cooperated with 116 countries and territories, the number of effective projects is 7,226 projects with a total registered capital of USD 62.5 billion (ranked 2nd in the country). In the first 9 months of 2023 alone, Hanoi City leads the country in attracting FDI capital with a total investment capital of USD 2.6 billion.

In in the term of a business perspective, Mr. Don Lam, Co-Founder and General Director of VinaCapital Group, said that during Prime Minister Pham Minh Chinch’s bilateral activities in the United States during his business trip to attend the 78th Summit Week At the United Nations General Assembly, VinaCapital Group organized the Prime Minister's meeting with major investors in New York. During this meeting, many American investors were very interested in investing in Vietnam, especially in the field of technology, semiconductor chip technology...

“Hanoi City has many advantages to develop the semiconductor chip manufacturing industry, building an ecosystem, such as many universities, research institutes and a large number of young, dynamic and creative human resources, ready to receive Access and develop the field of semiconductor chips through investment and technology transfer from foreign partners. We see this as Vietnam's greatest opportunity ever in attracting foreign investment capital for the development of the semiconductor industry. With the interest of businesses, hopefully, in early 2024, at least 5 foreign businesses will invest directly in Hanoi City to develop the semiconductor industry," Mr. Don Lam said.

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