Dr Nguyen Anh Thi, head of the board of management of Saigon Hi-tech Park (SHTP), said the park has this year set an FDI target of US$200 million.

It recently issued investment registration certificates to two major hi-tech projects.

They include $19.5 million by US company Arevo to manufacture 3D-printing machines and carbon fibre and nanotube-reinforced polymers for 3D printing and provide software services.

Korea’s SNST and Finger Vina have invested $1 million to produce high quality integrated circuits.

Last year Hong Kong company TTI, Inc., a wireless industrial electrical equipment manufacturer, invested $650 million in the park and is looking for local suppliers to increase its use of local parts.

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

It wants to increase investment in manufacturing for export, while simultaneously developing German-standard training schools to improve the quality of the Vietnamese engineering workforce.

It is set to encourage companies to relocate to Viet Nam to join its supply chain.

The plant will manufacture hand-held power tools with integrated technology for designing and manufacturing control devices, electronic transformers, mechanical engineering products, and others.

As part of its efforts to attract investment, the park has organised high-tech supporting industry development programmes to help local firms link up with lead firms, through business matching activities between foreign and Vietnamese enterprises, and with export processing zones and industrial parks around the country.

The park has also developed 162,000sq.m of high-rise factories for local firms in supporting industries, according to Thi.

Hua Quoc Hung, chief of the HCM City Export Processing and Industrial Zones Authority (HEPZA), said his agency has set an investment target this year of $550 million in industrial parks and export processing zones.

Science and Technology Park

Speaking at a recent meeting Thi said the park would focus on building a ‘world-class’ science and technology park.

It has a vision of laying the foundation for development of high-tech industries in HCM City, he said.

“We aim to create an environment to improve the quality of human resource training as this is the most important factor in production.”

He said it is important to enhance links between educational institutions, businesses and the park.

In the last 20 years various types of science and technology park models have sprung up globally such as innovation centres, incubation centres, innovation towns, and public science and Al technology urban areas.

In 2011 the city began consulting experts for building the park at a cost of more than VND4.3 trillion ($185 million).

The new park will tie up with educational and research institutes as part of a city programme to improve the quality of human resources, especially in new technologies. — VNS