Numerous high-tech projects invested in Vietnam's Southern provinces
Numerous hi-technology projects have been granted investment licences and allowed to increase investment capital in the last months of the year.
Guru Mallikarjuna, Director General of Bosch Vietnam said the German group plans to increase investment in Vietnam by 58 million EUR (67 million USD) to build a new workshop at its facility in the Long Thanh industrial park in the southern province of Dong Nai in early 2018. Between April 2008 and March 2017, the Dong Nai factory produced 20 million power transmission belts, according to Guru Mallikarjuna.
Sai Gon Hi-tech Park
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With the latest capital increase, the company’s total investment in Vietnam reaches 321 million EUR (372 million USD), making Bosch the biggest investor in hi-technology in Dong Nai. Meanwhile, the Saigon Hi-Tech Park (SHTP) has recently granted investment licences to four new hi-tech projects.
Echigo Vietnam JSC poured 10.6 million USD into a high precision mold manufacturing project with an annual capacity of 240 molds and 100 million parts. THT Precision Engineering Co Ltd was approved to develop precision engineering products for hi-tech engines and machines. The project, worth 12 million USD, aims to manufacture 600,000 drive shafts a year.
Scientists work on nanotechnology applications at a laboratory in the Sai Gon Hi-tech Park
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Duy Khanh Engineering Co Ltd will build a precise mold and machinery plant at a total cost of more than 5.2 million USD in the park.
According to Le Hoai Quoc, head of the SHTP Authority, investment in supporting industries and precision engineering is encouraged. The SHTP is accelerating development of a 197-hectare science and technology park as the second hi-tech park in the city. The project is expected to open to investors in the third quarter of next year.
In addition, the first-phase of the SHTP-based Saigon Silicon City project has been completed and will call for investment early next year. The facility is expected to draw 20 projects, worth around 1.5 billion USD in support industry and high technology.
Vietnamese Government and the city's authority should issue policies to support domestic scientific and technological enterprises in manufacturing products that meet the criteria of FDI projects. To help scientific and technological enterprises develop, the Government should grant tax incentives and issue policies to help them access preferential loans from commercial banks.
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