HANOI, Feb. 6 (Xinhua) -- The Vietnamese government has introduced incentives to encourage investments in the development of hi-tech parks, Vietnam News reported Tuesday.

Investments in hi-tech parks will enjoy a corporate income tax at 10 percent per year for 15 years. Exemption will be given for the first four years and a reduction of 50 percent for nine consecutive years, according to the report.

Vietnam now has three hi-tech parks, one in Ho Chi Minh City, another in Hoa Lac, southwest of Hanoi, and the third one in the central city of Da Nang.

According to Hoa Lac hi-tech park's management board, it is necessary to have favorable policies on personal income tax and long-stay visa for experts working in the hi-tech parks.

The management board of Da Nang hi-tech park said in the long term, a separate law on high-tech zones should be developed to promote their development. Enditem

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