3.9 bln USD channelled into Hoa Lac Hi-Tech Park

The Hoa Lac Hi-Tech Park in Hanoi has attracted 93 investment projects with registered capital of more than 90.25 trillion VND (3.9 billion USD) so far. (Photo: VNA)

Hanoi - The Hoa Lac Hi-Tech Park in Hanoi has attracted 93 investment projects with registered capital of more than 90.25 trillion VND (3.9 billion USD) so far, including more than 7.95 trillion VND in investment approved last year, the Ministry of Science and Technology has said.

Of particular note, several outstanding hi-tech products have been developed and manufactured at the park, including 5G smartphones and 5G network equipment made by Vinsmart in cooperation with Qualcomm, marine radars using 4G and 5G technology made by Viettel, and aircraft engine components and hi-tech cutting tools for the aerospace industry made by Hanwha.

At a recent conference of the park’s management board, Minister of Science and Technology Huynh Thanh Dat highlighted the Party and Government’s policy of building it into a science and technology city and a smart ecosystem for science-technology development, to contribute to national development.

To promote its development, he asked the park to continue identifying measures to welcome shifting foreign investment, step up cooperation with universities and research institutes in training and technology transfer, and enhance ties with foreign hi-tech and industrial parks to boost its potential and access to major investors.

Deputy Minister of Science and Technology Tran Van Tung said Hoa Lac’s investment attraction potential is growing strongly, and a number of major enterprises have applied modern technology in their operations there.

Established in 1998 and under the Ministry of Science and Technology, the Hoa Lac Hi-Tech Park is the first and largest of its kind in Vietnam. It covers a total area of approximately 1,600 ha on the outskirts of Hanoi.