The Trung Nam Group has restarted construction of the Da Nang Information Technology Park (DITP) in Hoa Vang district after an agreement to buy a 65 per cent stake from the US’s Rocky Lai & Associates Inc, the project’s former investor.

Deputy General Director of the group, Bui Xuan Dinh told Viet Nam News the project is to be put into operation in the second quarter of 2018.

“We have revved up the construction schedule since we inked an agreement of buying 65 per cent stake from the US’s Rocky Lai & Associates Inc and partners. We plan to complete infrastructure to handover to new investors in 2018 before starting the second phase in 2018-23,” Dinh said.

“The project, which broke ground in 2013, was delayed due to financial difficulties from the Rocky Lai & Associates Inc. Our company, in co-operation with the city, will call for investment at business forum in the 2017 Asia-Pacific Economic Co-operation (APEC) Summit in Da Nang on November 5-11,” he said.

He hoped that the project will offer more opportunities for information technology (IT) investors in Da Nang in the future.

The park, which covers 341ha with total registered investment of US$278 million, aims to become central Viet Nam’s Silicon Valley.

It expects to create revenue of $3 billion each year with 25,000 jobs and a satellite city of 100,000 people.

The park will also include banks, offices, IT research and training centres, production and an IT showroom.

Da Nang previously developed the Quang Trung and Da Nang software parks, attracting 140 information technology companies and more than 2,000 employees. — VNS