The firm's general director Kelvin Teo discussed the plan with Chairman of HCM City's People's Committee Nguyen Thanh Phong during a working session yesterday.. — Photo Thanh Vu

HCM CITY (Biz Hub) — The Sembcorp Development Company from Singapore has expressed its intention to invest in a Vietnam-Singapore Innovative Park in HCM City.

The firm's general director Kelvin Teo discussed the plan with Chairman of HCM City's People's Committee Nguyen Thanh Phong during a working session yesterday.

The general director said the park would need about 50-100 hectares of land near the city's centre, adding that it differed from other industrial zones in that it would have a commercial centre, research facilities and residential quarters to ensure quality living conditions for scientists and experts.

Once operational, it will attract investors and interdisciplinary experts from all over the world to develop new products, he said.

According to the chairman, the HCM City Hi-tech Park has sufficient conditions to meet Sembcorp Development's requirements for the project.

He assigned the hi-tech park's management board and relevant agencies to work with the Singaporean firm on land use procedures.

The city leader also expressed his hope that the firm will invest more in the development of renewable, wind and solar energies in the city.

So far, Sembcorp Development has poured US$8.5 billion into seven projects in Viet Nam, creating about 160,000 jobs. — VNS