The Sai Gon Silicon Park JSC on Tuesday began construction of the VND480 billion (US$21.6 million) Sai Gon Silicon City Centre. — VNS Photo

HCM CITY (Biz Hub) — The Sai Gon Silicon Park JSC on Tuesday began construction of the VND480 billion (US$21.6 million) Sai Gon Silicon City Centre.

Spreading over a total area of over 11,000sq.m in the Sai Gon Hi-Tech Park, the centre forms part of the 52ha Sai Gon Silicon City project worth some $40 million.

Nguyen Minh Hieu, chairman of the Sai Gon Silicon Park JSC, said the centre aims to promote technological research and development and connect overseas Vietnamese companies specialising in the high-tech and parts-supply industries and international groups specialising in the research and application of technological transfer, while creating a healthy and friendly investment climate following the model of the US's Silicon Valley.

The Sai Gon Silicon City project, when it comes into full operation, is expected to draw investments worth $1.5 billion and make HCM City a smart city, meeting international standards and attracting many high-tech investors.

It will also enable the city and the country, in general, narrow the scientific-technological development gap with other countries in the region and the world.

Le Thanh Liem, vice chairman of the municipal People's Committee, said the Sai Gon Silicon City Centre project is significant and meaningful as it will promote high-tech development in the southern metropolis and encourage Vietnamese living abroad to invest in their country, thus contributing to national development. — VNS