The Prime Minister has set new criteria to determine high-tech enterprises. — Photo vneconomy.vn

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung has issued a decision prescribing the criteria to determine high-tech enterprises.

Under Decision No. 19/2015/QD-TTg, dated June 15, 2015, hi-tech enterprises must satisfy the following criteria:

- Producing listed hi-tech products whose development is encouraged.

- Environment-friendly and energy-saving measures must be followed for producing and controlling the quality of products in accordance with technical regulations and standards.

- Revenue from hi-tech products must account for at least 70% of the annual net revenue.

- Total expenses for development and research activities conducted in Viet Nam by small and medium enterprises must account for at least 1% of their total annual net revenue and at least 0.5% for enterprises that have a total capital of over VND100 billion (US$4.6 million) and more than 300 employees.

- Employees holding specialized or higher university degrees and directly conducting development and research activities must account for at least 5% of the total number of employees in small and medium enterprises, and at least 2.5% in enterprises that have a total capital of over VND100 billion and more than 300 employees.

The Decision will take effect from August 1, 2015. — VNS