HCM CITY (VNS) — The nation's commercial hub on April 27 granted investors a licence to develop "Saigon Silicon City" in the Saigon Hi-Tech Park (SHTP).
According to Thoi Bao Kinh Te Sai Gon online, the project follows the model of the US' Silicon Valley, home to many of the world's biggest high-tech corporations and technology start-up companies.
It has an investment capital of about VND860 billion, or US$40 million, and will be spread over 52 hectares (ha).
Nguyen Minh Hieu, a Vietnamese American and chairman of the Silicon Saigon Park JSC, represented investors to receive the investment licence from municipal People's Committee Vice Chairman Le Manh Ha yesterday.
Real estate firm Viet R.E.M.A.X and Vector Fabrication Viet Nam Co.Ltd., plus an individual named Nguyen Trung Quang, jointly formed the Silicon Saigon Park.
Hieu said the Saigon Silicon City was expected to have adequate infrastructure, conveniences and services to attract overseas
Vietnamese and foreign enterprises with investments in the high-tech area, as well as support industries.
He said work on the project would begin next month and investment attraction was slated for early 2016. The Saigon Silicon City would have lured around $1.5 billion in investments when fully occupied, he anticipated.
Some two dozens of enterprises had expressed interest in investing here, he said, adding that future operations in this area would help technology developers increase the domestic content in their products.
People's Committee officials pledged maximum incentives here to accelerate investments in the eastern gateway of HCM City.
Yesterday, the SHTP management board also licensed the "Millennium Park" project, which would be built by the Nguyen Tat Thanh University with an investment capital of VND900 billion, or $41.6 million.
The 22.7ha park would be covered by nursery gardens, scientific areas and agricultural fields. This was the third project of the university in the SHTP, besides technology development and training centres, and was expected to be operational by early 2017.
The national-level SHTP has reportedly attracted 68 investment projects with a total registered capital of $4.1 billion since its establishment in 2002.
Enterprises here have exported about $10 billion and imported roughly $8.8 billion worth of goods. — VNS