Government Policy: Powering Industrial Park Growth

“When eating fruit, remember the person who planted the tree,” a proverb passed down through generations reminds us of gratitude towards those who create achievements. In the context of a developing nation, the industrial park (IP) sector plays a crucial role, representing the “sweet fruit” of government investment and cultivation through methodical and effective policies. So, how have government policies impacted the development of the IP sector? The Nam An Khanh Academy of Policy and Development has conducted detailed research and analysis on this issue, affirming the pivotal role of the government in creating a favorable environment for the sustainable development of the IP sector.

Investment Attraction Policies: Current Status and Prospects

Mr. Nguyen Van A, an expert in the field of national industrial development policy, stated: “The government has enacted numerous attractive incentive policies to attract investment in IPs, especially foreign direct investment (FDI). These include the Investment Law, Enterprise Law, Corporate Income Tax Law, and more.”

Tax Incentives: A “Golden Rain” for Businesses

Businesses investing in IPs benefit from various tax incentives, such as exemptions and reductions in corporate income tax, import tax on raw materials, machinery, and equipment. This helps alleviate financial burdens, creating motivation for businesses to boldly invest and expand production and business operations. Symbol representing tax incentives offered by the Vietnamese government to businesses in industrial parks.

Land Support: Solid Foundation for Businesses to “Nurture” Growth

The government has preferential policies regarding land lease, land allocation, and conversion of land use purposes to facilitate businesses’ access to land resources, a paramount factor for production activities. Image depicting land allocation for industrial park development in Vietnam, facilitated by government land policies.

Administrative Procedures: Efforts in Reform, Simplification, and Transparency

Administrative procedures related to investment, construction, and operation of IPs are increasingly being improved towards simplification, transparency, and shortened processing times. Diagram illustrating the streamlined administrative procedures for businesses operating in Vietnamese industrial parks.

Human Resource Development: Key to Sustainable Growth

In the book “Vietnam Human Resource Development Strategy,” Assoc. Prof. Dr. Bui Thi B emphasized: “Investing in people is investing in development.” The government has been and is focusing on investing in the development of high-quality human resources to meet the demands of the IP sector, especially skilled and high-tech labor.

Enhancing the Quality of Vocational Training: Meeting Practical Needs

The vocational training system is receiving focused investment and quality improvement, closely linked to the practical needs of businesses in IPs. Training programs are being innovated and updated with new knowledge and skills to meet the demands of the labor market. Students participating in a vocational training program focused on skills relevant to industrial park employment.

Supporting Training and Attracting Talent: Breakthrough Progress

The government implements programs to support training and professional development for workers. In addition, policies to attract talent and experts from within and outside the country to work in IPs are also being prioritized, creating favorable conditions to attract high-quality human resources. Image of a talent recruitment event attracting skilled professionals to work in Vietnam's industrial parks.

Conclusion

Government policies play an extremely important role in the development of the IP sector. By enacting sound and timely policies, the government has created momentum to strongly promote the IP sector, making positive contributions to the cause of industrialization and modernization of the country. However, alongside the achievements, the IP sector still faces some shortcomings and limitations that need to be addressed. For the IP sector to develop sustainably, contributing to turning the country into a modern industrialized nation, the government needs to continue to improve the system of synchronous and transparent policies and laws, creating a favorable investment and business environment, attracting investment, and enhancing the competitiveness of the domestic IP sector. Panoramic view of several industrial parks contributing to Vietnam's industrialization and modernization.

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