The list of preferred investment sectors is a crucial component of many countries’ investment policies, including Vietnam. This list identifies industries and fields that the government encourages and provides incentives for, aiming to foster economic development, improve living conditions, and enhance the quality of life. In this article, we will explore the preferred investment sectors in Vietnam and the accompanying policies in detail.

I. Overview of Preferred Investment Sectors

The list of preferred investment sectors includes fields that the government encourages and facilitates to attract investment. This list is typically updated periodically in line with the country’s economic development strategy. In Vietnam, the list of preferred investment sectors plays a vital role in identifying priority areas for sustainable development and innovation.

1. High-Tech Industry: Investing in the Future

The high-tech industry is one of the top preferred investment sectors. This field encompasses research, development, and application of new technologies, ranging from information technology and artificial intelligence to biotechnology. The Vietnamese government encourages investment in the high-tech sector through tax incentives, research and development support, and intellectual property rights protection. Investment in high-tech promotes innovation and creates many high-quality employment opportunities.

2. High-Tech Agriculture: Innovation in Agricultural Production

High-tech agriculture is an essential part of the preferred investment sectors list. Investment in this area focuses on applying new technologies to enhance production efficiency, improve agricultural product quality, and protect the environment. High-tech agricultural projects, such as smart irrigation systems and organic farming methods, benefit from tax incentives and financial support, contributing to sustainable agricultural development and rural modernization.

3. Environmental Protection: Aiming for a Green Future

Environmental protection is a significant field in the preferred investment sectors list. Projects related to waste treatment, energy saving, and renewable energy (such as solar and wind) are encouraged. The government provides incentives such as tax exemptions, financial support, and technical assistance programs for environmental protection projects. This promotes sustainable development and minimizes negative environmental impacts.

4. Education and Training: Investing in Human Resources 

The education and training sector is a critical part of the preferred investment sectors list. Investment in this area includes building educational institutions, developing high-quality training programs, and conducting scientific research. The Vietnamese government encourages investment in education by offering tax incentives and financial support for educational and research institutions. Investing in education not only enhances the quality of the workforce but also contributes to the comprehensive development of society.

3. Healthcare and Health Services: Improving Quality of Life

The healthcare and health services sector is also part of the preferred investment sectors list. Investments in hospitals, clinics, and medical research facilities receive policy incentives, such as tax reductions and financial support. These policies aim to improve healthcare quality, enhance public health, and meet the growing healthcare needs of the population.

4. Infrastructure Development: Investing in Infrastructure Growth

The list of preferred investment sectors includes infrastructure development, such as transportation, industrial zones, and power plants. Infrastructure investments are supported through tax incentives, land lease reductions, and financial aid. These projects play a crucial role in enhancing the economy’s competitiveness and promoting comprehensive economic development.

5. Supporting Industries: Ensuring the Supply Chain

Supporting industries, including the production of components, parts, and input materials for key industries, are also part of the preferred investment sectors list. The Vietnamese government encourages investment in this field to improve supply chains and reduce dependency on imports. Supporting industry policies include tax exemptions and financial support for component and parts manufacturing enterprises.

6. Information and Communications Technology: Driving Digital Development

The information and communications technology sector is an important part of the preferred investment sectors list. Investments in information technology, software, and digital services are encouraged through tax exemptions and research and development support. This aims to promote digital economy growth and create many job opportunities in the technology sector.

II. Forms of Investment Incentives

Investment incentives include:

• Corporate income tax incentives, which may involve applying a lower corporate income tax rate for a specified period or for the entire project duration, tax exemptions, reductions, and other incentives;
• Exemption from import taxes for goods imported to create fixed assets, raw materials, materials, and components for production;
• Exemption or reduction of land use fees, land rental, and land use tax;
• Accelerated depreciation, increased deductible expenses when calculating taxable income.

III. Preferred Investment Locations

Preferred investment locations include:

• Economically and socially disadvantaged areas, areas with special economic and social difficulties;
• Industrial parks, export processing zones, high-tech zones, economic zones.

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