Da Nang high-tech zone management board announced incentives to draw investors. (Photo: nguoiduatin.vn)

They include free land lease for new companies, an interest rate of 10% for businesses with investment capital of over 132 million USD, and corporate income tax exemption in 4 years.

Phung Tan Viet, Head of the Da Nang high-tech zone management board, said it has invested 53 million USD in building the infrastructure and attracted 8 projects worth 200 million USD. “To compete with other major cities and provinces and develop into a driver of the central region, Da Nang needs to promote high-tech zones. The city’s Party Committee has issued a resolution to turn it into a high-tech urban area. It’s an important milestone in local economic restructuring.”

The new incentives also stipulate that Vietnamese expats and foreigners working in Da Nang high-tech zone and their family members will be given multiple entry visas.