In the first quarter of 2024, Hanoi remains the top destination for FDI in Vietnam, with total registered capital exceeding USD 970.8 million, accounting for 15.7% of the total registered investment across the country.

Policies and incentives for industrial parks in Hanoi.

Investment Promotion Programs

To attract foreign investors, Hanoi has implemented numerous policies to facilitate business operations such as enhancing administrative reforms, delegating authority to the management boards of industrial and export processing zones to handle investment administrative procedures, construction planning, etc., unifying a “one-stop” mechanism. The establishment of an e-government system and the increased application of information technology are part of these efforts; certain public services such as business registration, taxation, customs, land use registration, and building permit applications can now be completed online.

Additionally, the management boards of industrial zones in Hanoi frequently collaborate with various departments, sectors, and investment and trade promotion centers to organize promotion booths and fairs. They also facilitate onsite investment promotion activities for foreign enterprises, creating favorable conditions for businesses to access the Vietnamese market.

Channel Well Technology factory in Quang Minh Industrial Park – Hanoi, which DELCO worked as the Design – Build General Contractor, is one of the examples of the active participation of industrial construction contractors in Hanoi in large projects.

FDI incentives

In addition to appropriate policies to support the development of human resources, infrastructure and social infrastructure, etc. Hanoi also has other attractive tax incentives to create favorable conditions for businesses such as:

Exemption from land rent and water surface rent for 10 years and a 50% reduction in land rent and water surface rent for the remaining time.

A tax rate of 5% corporate income tax is applied.

Exemption from corporate income tax for 4 years and a 50% reduction in income tax payable for the next 9 years.

These projects not only attract investment from businesses but also create collaboration opportunities for industrial construction contractors in Hanoi.

Hanoi South Supporting Industrial Park (HANSSIP) – Perspective photo

Infrastructure development of Hanoi Industrial Park in the period of 2021 – 2030, vision to 2050

Currently, Hanoi has 10 operating industrial parks in an area of 1,348 hectares, the occupancy rate is over 95%, attracting 709 projects, including 300 foreign investment projects with registered capital of nearly 6.7 billion USD and 409 domestic investment projects, registered capital of over 26,000 billion VND. These projects are a great opportunity for industrial construction contractors in Hanoi.

Noi Bai Industrial Park with 100% occupancy rate

Industrial parks in Hanoi focus on well-invested infrastructure including roads, electricity, water, telecommunications, wastewater treatment, etc., fully constructed to meet the production needs of the investor. In addition, Hanoi also has 4 worker housing projects with a total design capacity of 22,420 accommodation in industrial parks such as Dong Anh, Thach That, Phu Nghia…

Housing for workers in Hanoi

In order to expand the industrial parks as well as attract more new investors to industrial parks, in the period 2021 – 2025 Hanoi has approved the Dong Anh Industrial Park project with a total investment capital of over 6,388 billion VND. Moreover, in the period 2025 – 2030, with a vision to 2050, Hanoi has also issued a plan to add 9 new industrial parks with an area of 2,911 hectares and 174 industrial clusters with a total area of 5,824 hectares.