Bac Ninh Province to Provide 100% Land-Rent Support for High-Tech Companies and Startups for First Five Years

【HANOI, Vietnam—Correspondent Kim Jun-seok】Bac Ninh Province in Vietnam will provide 100% support for land rental fees for the first five years when high-tech companies, small and medium-sized enterprises, and innovative startups move into industrial parks, industrial clusters, and technology incubators in the province.
According to local media reports on the 15th, the Bac Ninh Provincial People’s Committee made the decision under a land-rent support policy that took effect in August. Eligible recipients are high-tech companies, small and medium-sized enterprises (SMEs), and innovative startups in the private economic sector that lease land for production and business operations in industrial parks.
High-tech companies must hold a high-tech company certificate, while innovative startups must be recognized under the Law on Science, Technology and Innovation. Small and medium-sized enterprises must meet the requirements of the Small and Medium-sized Enterprises Support Law.
The support period is calculated from the date on which a company signs a land sublease agreement with an infrastructure developer. Funding will be provided annually from the local government budget. Infrastructure developers will apply the appropriate land-rent reductions to eligible companies, prepare the relevant documents, and then receive reimbursement from the government budget or deduct the amount from their financial obligations in accordance with regulations.
Earlier, as part of measures to improve the business environment in 2026, Bac Ninh Province required each industrial park and industrial cluster to secure at least 20 hectares or 5% of its total area to meet the leasing needs of small and medium-sized enterprises, high-tech companies, and innovative startups. It also set a goal of reducing by at least 30% the processing time for administrative procedures related to land leasing and the issuance of certificates of land-use rights for residents and businesses.
The support program was introduced as the number of newly established companies in Bac Ninh Province continued to rise. During the first eight months of this year, 5,939 new companies were established across Bac Ninh Province, with total registered capital of 102.207 trillion Vietnamese dong (approximately 5.2936 trillion won). In addition, 246 branches and representative offices and 2,677 new business locations were registered.
During the same period, five new industrial parks, representing investments of more than 8 trillion Vietnamese dong (approximately 414.3 billion won), received investment approval. As a result, the cumulative number of industrial parks approved for investment in Bac Ninh Province rose to 39, covering a total area of more than 11,600 hectares. Their average occupancy rate stands at approximately 53%.
[email protected] Kim Jun-seok Reporter