New annual land lease rates for SHTP released

SGGP

Ho Chi Minh City (HCMC) People’s Committee has just announced Decision No.32/2020 about the percentage of land rent per year for hi-tech parks.

New annual land lease rates for SHTP released

Accordingly, the percentage of land lease rates each year in Saigon Hi-tech Park (SHTP) is calculated corresponding to land use.

As to land use for commercial and service purposes, this percentage is 1.3 percent per year. For manufacturing or non-agricultural purposes as well as commercial uses of public land, the proportion is exactly 1 percent.

These rates are applicable to any contract signed between January 1, 2020 and December 31, 2020 when this Decision goes into effect.

The Management Board of SHTP reported the value of products manufactured in SHTP in 2020 reached US$19 billion, accounting for 95 percent of the assigned goal. In addition, the total new invested capital last year came to $100 million (18.2 percent of the estimated figure).

Since the potential of SHTP’s investment attraction is quite impressive, it was predicted to contribute 10 percent of HCMC’s GRDP by the end of 2020.

By Phuc Long – Translated by Thanh Tam

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