The economic hub of Ho Chi Minh City has long been a centre for the development of science and technology in Vietnam , and the effective investment in the field has significantly contributed to speeding up the modernisation and industrialisation in the southern region and the country as a whole.

Covering a total area of 913 hectares, the Ho Chi Minh City hi-tech park is one of three set up by the Government.

After 11 years of development, the park has been an attractive destination for foreign direct investment. Notably, it is hosting a 1 billion USD project funded by the world’s leading semiconductor firm, Intel Corp.

As of November 2013, the park had licensed 58 hi-tech projects totalling 2.1 billion USD, 84 percent of which was FDI.

Since the first project became operational in 2005, it has hosted 38 enterprises specialising in high technology research, production, training and application.

Many products from the park have helped raised the city’s GDP. Enterprises in the park have also contributed around 14.1 million USD to the state budget annually and created jobs for more than 1,700 employees.

The investors in the park have not only succeeded in researching new products, but have also started introducing them to foreign markets, said Ass.Prof. Le Hoai Quoc, head of the HCM City Hi-Tech Park Management Board

”This is an important step forwards promoting the ongoing development of the park,” he noted.

Many businesses at the park have particularly succeeded in the areas of semiconductor production and biotechnology. Notably, many products of the Nanogen biotechnology company have filled the domestic market as well as a number of Southeast Asian and Middle Eastern markets.

Currently, the park is continuing its infrastructure building in the second phase, which focuses on some prioritised sectors including microelectronics, information technology, telecommunications, automation, nano technology and biotechnology.

More efforts will also be made to produce products with high value to serve consumers and to boost the support industry.

Within the three years since 2011, the total investment in science and technology in HCM City hit more than 211 million USD.

The development of high technology in the city is on the right track, matching global trends. This is also an important factor fuelling the industrialisation and modernisation of Vietnam.-VNA