Saigon High-Tech Park Expands to Second Phase
May 5 – The Saigon High-Tech Park (SHTP) will soon begin work on its second phase to expand the park by 613 hectares to include a high-tech manufacturing area, a research and development and a business incubation area to name a few.
The park’s new development will cost about US$300 million to build. The first phase of the SHTP has been operational for four years and is already 95 percent occupied. It is one of the only two high-tech parks in the country with the other one, Hoa Lac High-Tech Park, situated in Hatay Province.
The park, located 12 kilometers from downtown Ho Chi Minh City, will benefit from improved access when Line 1 of the city’s new metro system is finished in 2014. The new line will then connect the park with the famous Ben Thanh Market, selected residential areas in District 2, District 9, Thu Duc District, Suoi Tien Park and Long Binh.
The park has enticed US$1.76 billion worth of investments so far, of them 22 were FDI projects amounting to US$1.57 billion including Japanese computer drive manufacturer Nidec and American chipmaker Intel.
Vietnam’s Industrial Zones
- Previous Article Companies Allowed to Offset 2009 PIT Overpayments
- Next Article Vietnam, United States to Develop Wharves at Cai Lan Port Worth US$179 Million