Project at Saigon Hi-Tech Park issued investment license on April 27.
Ho Chi Minh City granted an investment license for the development of Saigon Silicon City at the Saigon Hi-Tech Park (SHTP) on April 27.
The project is being built on an area of 52 hectares with total investment of VND680 billion ($31.5 million) and will be able to house over 24 enterprises operating in the field of high technology or technology support with total investment of about VND32.2 trillion ($1.5 billion) when fully occupied. The project will begin in May and start to attract investment in 2016.
“We want to build and develop Saigon Silicon City as a world-class urban area following the model of Silicon Valley,” Chairman of the Silicon Saigon Park JSC, Mr. Nguyen Minh Hieu, told the licensing ceremony. “Saigon Silicon City will have the infrastructure, conveniences and services needed to attract overseas Vietnamese and foreign enterprises with investments in the high-tech field as well as in support industries.”
During the ceremony the investor also pledged to use all resources to accelerate the project, ensure completion on schedule, and attract investors in the shortest time possible.
Along with Silicon Saigon Park JSC the real estate firm Viet R.E.M.A.X and Vector Fabrication Viet Nam Co. plus an individual named Nguyen Trung Quang are also involved in the building of Silicon Saigon City.