Saigon Hi-tech Park attracts $12b worth of investment over 2 decades

Monday, Sep 12, 2022 13:38

The Saigon Hi-tech Park (SHTP) in Thu Duc City in HCM City. — VNA/VNS Photo

The Saigon Hi-tech Park (SHTP) in HCM City has attracted more than US$12 billion in domestic and foreign investment since its establishment 20 years ago.

Speaking at a meeting last week on the occasion of its 20th anniversary, Dr Nguyen Anh Thi, head of its management board, said it included 51 foreign direct investment (FDI) projects worth more than $10.1 billion.

They include those by high-tech giants such as Intel and Jabil from the US, Nidec, Nipro, Nippon Telegraph, and Telephone (NTT) from Japan, Samsung from South Korea, and Datalogic from Italy.

There were also 110 local projects worth $1.93 billion.

Thi promised to offer favourable conditions to attract investment in the tech and supporting industries.

For this, it had organised high-tech supporting industry development programmes to help local firms link up with lead firms through business matching activities, and building export processing zones and industrial parks across the country, he said.

Last year the park’s exports of high-tech products were worth $20.9 billion, or 52 per cent of the city’s total exports, and are expected to rise to $23 billion by the end of this year, he said.

Founded in 2002, the 913ha park targets to become a world-class science and technology park by 2030.

“Improving the quality of the human resource is the most important factor,” Thi said.

It was vital to enhance links between educational institutions, businesses and the park, he added.

The park plans to set up a plant and an R&D centre with the intention of making Viet Nam its new manufacturing base, according to Thi.

It also wants to increase investment in manufacturing and set up training schools for engineers.

More than VND10 trillion ($425.44 million) has been invested in developing the park, VND1.983 trillion by the central Government and the rest by the city.

Another VND4.5 trillion was invested by the private sector in the telecom infrastructure, ready-built factories, logistics and warehouses, and others. — VNS

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