The Ministry of Planning and Investment has proposed a pilot of investment support for businesses in the field of high technology.

Under a draft resolution on this support, the policy would target high technology enterprises with major investment capital or large-scale high-tech projects or high revenue.

Four types of businesses would benefit from the pilot, including those producing high-tech products with total investment of over VND12 trillion ($502 million) or earning revenue of over VND20 trillion ($836 million) a year; or high-tech businesses with investment projects worth over VND12 trillion ($502 million) or earning revenue of more than VND20 trillion ($836 million).

Others include enterprises that have high-tech projects worth over VND12 trillion ($502 million) or earn revenue of more than VND20 trillion ($836 million), and businesses investing in research and development (R&D) centers with total investment of over VND3 trillion ($125 million).

These businesses will gain financial assistance for investment in fixed assets and social infrastructure facilities, the production of high-tech products, and R&D.

If approved, the resolution would take effect from January 1, 2024.

Source: VNECONOMY