90% of overseas companies in hi-tech park forgo R&D

Most FDI companies in Saigon Hello-Tech Park have made use of preferential therapy when it comes to land and labor to provide, package deal and export merchandise, Le Hoai Quoc, president of HCMC Automation Affiliation, stated Friday at a chat on orienting the park’s improvement.

Paying undue consideration to R&D, the companies have created little added worth from the exercise within the park, he acknowledged, proposing that they be compelled to conduct R&D in response to their revenues.

“In the event that they (FDI enterprises in Saigon Hello-Tech Park) don’t decide to this, we are able to think about chopping preferential therapy,” he stated.

He proposed the park intensifies innovation and R&D to churn out added worth, hi-tech merchandise.

Nguyen Anh Thi, head of the park’s administration board, stated that within the coming time, when licensing funding within the park, related authorities will ask companies to pledge to R&D. “When enterprises don’t adjust to their dedication, we are going to suggest chopping tax preferential therapy,” he added.

Tran Viet Anh, chairman of HCMC-based Nam Thai Son Firm, proposed that simplified administrative procedures and preferential therapy be given to home enterprises, and that municipal authorities deploy particular methods on spearheading hi-tech merchandise.

Saigon Hello-Tech Park in HCMC in 2019. Photograph by VnExpress/Quynh Tran

After 20 years of operation, Saigon Hello-Tech Park has attracted 160 tasks, with 70 concerned in manufacturing, 19 in companies, 19 in R&D, and 23 in auxiliary trade. The park has hosted 51 FDI undertaking, together with Intel, Samsung, Nidec and Datalogic with mixed funding exceeding $10.1 billion.

Corporations within the park achieved export turnovers of $20.9 billion in 2021, accounting for 52% of HCMC’s complete exports. They’ve focused export turnovers of $23 billion this 12 months.