Saigon High Tech Park attracts more investment

August 03, 2015 | 08:00
(0) user say
Saigon High Tech Park (SHTP) has attracted numerous substantial foreign invested projects in the education and manufacturing sectors.

In mid-July, the SHTP management authority licensed the Trust for University Innovation in Vietnam (TUIV) to establish the Fulbright University Vietnam (FUV) with the initial capital of $70 million. The construction of FUV on 15 hectare land area is going to start at the beginning of 2016.

In April, SHTP approved two projects with thetotal capital of more than $80 million. One of these projects is one by the University of Nguyen Tat Thanh to develop the $42.25 million Millennium Science Park on an area of 22.7 hectares. The project is expected to be completed before 2017.

The other one is to develop the 52 hectare Saigon Silicon City. The $40 million project was invested in by the Saigon Silicon Park Joint Stock Company (JSC).

According to Nguyen Minh Hieu, chairman of Saigon Silicon Park JSC, once completed, Saigon Silicon City is expected to attract 24 enterprises which would invest a total of $1.5 billion in their production facilities.

Le Bich Loan, deputy director of SHTP, said that the Ho Chi Minh City People’s Committee had signed an agreement in July permitting Jabil Circuit Inc. to invest an additional fund of $500 million into its production lines at SHTP. In 2007, Jabil invested $150 million in building a factory manufacturing electronic components.

Besides, the world’s largest smart phone maker and leading hi-tech investor in Vietnam, Samsung, plans to expand its investment in the Samsung Consumer Electronics Complex project by $1 billion. In May, Samsung broke ground for its $1.4 consumer electronics complex specialising in producing household appliances and high-tech electronics.

Loan added that many foreign investors, especially South Korean enterprises, have been registering to invest in SHTP.

By By Kim Oanh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional