Hanoi to build $1-billion software park

By VnExpress   September 7, 2016 | 03:00 pm PT
A new home for the capital's tech start-up industry.

Hanoi is planning to invest over $1 billion in a software park which is expected to create more than 40,000 jobs, the municipal administration announced Wednesday.

The capital plans to use the information technology industry to drive the city’s economy, and the software park will focus on software development and digital content, said officials from the city’s Department of Information and Communications.

The hi-tech park will cover 70.8 hectares (175 acres) along the main road linking the city center with Noi Bai, Vietnam’s second largest international airport.

The city has named Becamex ITC as the first potential investor, and has given the company access to relevant documents so that it can submit a feasible plan before September 30.

Becamex ITC is part of the state-run Becamex IDC Corp., which is a provincial investment and development enterprise patterned on Singapore’s Temasek Holdings and one of Vietnam’s leading industrial park developers with a strong footprint in the southern province of Binh Duong.

The Hanoi municipal government said the project is high on its list of priorities for the next four years because the information technology zone in Cau Giay District is now full with more than 300 businesses, including local technology giants such as FPT Corp., Viettel and Hanoi Telecom.

Last year, Hanoi approved the construction of a $470 million hi-tech zone in Long Bien District. The project is scheduled for completion in 2019.

Vietnam’s revenue from information technology soared to $49.5 billion in 2015 from $7.6 billion in 2010, government statistics show.

The goverenment plans to transform the country from an outsourcing hub of electronic components to a major player in the global hi-tech market.

Recently, it approved a package of fresh initiatives aimed at paving the way for tech start-ups.

Related News:

>Vietnam strategizes to be a start-up nation

>Should the Vietnamese government invest in start-ups?

>Should the Vietnamese government invest in start-ups?

go to top