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HCM City licenses ‘Saigon Silicon City' project

Ho Chi Minh City has granted investors a licence to develop the "Saigon Silicon City" in the Saigon Hi-Tech Park (SHTP).
Ho Chi Minh City has granted investors a licence to develop the "Saigon Silicon City" in the Saigon Hi-Tech Park (SHTP).

Accordingto Thoi Bao Kinh Te Sai Gon online, the project follows the model ofthe US' Silicon Valley, home to many of the world's biggest high-techcorporations and technology start-up companies.

It has an investment capital of about 860 billion VND, or 40 million USD, and will be spread over 52 hectares.

NguyenMinh Hieu, a Vietnamese American and Chairman of the Silicon SaigonPark JSC, represented investors to receive the investment licence frommunicipal People's Committee Vice Chairman Le Manh Ha on April 27.

Realestate firm Viet R.E.M.A.X and Vector Fabrication Vietnam Co. Ltd.,plus an individual named Nguyen Trung Quang, jointly formed the SiliconSaigon Park.

Hieu said the Saigon Silicon City wasexpected to have adequate infrastructure, conveniences and services toattract overseas Vietnamese and foreign enterprises with investments inthe high-tech area, as well as support industries.

He said work on the project would begin next month and investmentattraction was slated for early 2016. The Saigon Silicon City would havelured around 1.5 billion USD in investments when fully occupied, heanticipated.

Some two dozens of enterprises hadexpressed interest in investing here, he said, adding that futureoperations in this area would help technology developers increase thedomestic content in their products.

People's Committee officials pledged maximum incentives here to accelerate investments in the eastern gateway of HCM City.

Also the same day, the SHTP management board licensed the "MillenniumPark" project, which would be built by the Nguyen Tat Thanh Universitywith an investment capital of 900 billion VND, or 41.6 million USD.

The 22.7ha park would be covered by nursery gardens, scientific areasand agricultural fields. This was the third project of the university inthe SHTP, besides technology development and training centres, and wasexpected to be operational by early 2017.

Thenational-level SHTP has reportedly attracted 68 investment projects witha total registered capital of 4.1 billion USD since its establishmentin 2002.

Enterprises here have exported about 10 billion USD and imported roughly 8.8 billion USD worth of goods.-VNA
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