Vietnam: New criteria to identify high-tech enterprises effective from April 30, 2021

Nguyen Trinh

14:02, 18/03/2021

Recently, the Prime Minister of Vietnam issued Decision 10/2021/QD-TTg stipulating criteria for identifying high-tech enterprises.

From April 30, 2021, in order to be granted a high-tech enterprise certificate, apart from the criteria specified at Points a and b, Clause 1, Article 18 of Vietnam's Law on High Technology 2008, an enterprise must also meet the following criteria:

- Revenues generated from hi-tech products must account for at least 70% of total annual net revenue of enterprises.

- Percentage of expenses on research and development of enterprises in Vietnam of each year:

Enterprises with total funding sources of VND 6,000 billion or more and 3,000 workers or more must achieve at least 0.5%;
Enterprises not specified under Point a Clause 2 of this Article with total funding sources of VND 100 billion or more and 200 workers or more must achieve at least 1%;
Other enterprises must achieve at least 2%.

- Percentage of workers participating in research and development having at least college level education of enterprises over total number of workers:

Enterprises with total funding sources of VND 6,000 billion or more and 3,000 workers or more must achieve at least 1%;
Enterprises not specified under Point a Clause 3 of this Article with total funding sources of VND 100 billion or more and 200 workers or more must achieve at least 2.5%;
Other enterprises must achieve at least 5%.

More details can be found in Vietnam's Decision 10/2021/QD-TTg, effective from April 30, 2021, replacing Vietnam's Decision 19/2015/QD-TTg.

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