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Home / Economy / Construction
Vie-Pan Techno Park invested $31 million
By Tuan Minh 09:11, 2014/02/18
Construction work began on an innovative Vietnam-Japan technology park in Ho Chi Minh city on February 17 with a total investment of USD31 million.

Vie-Pan Techno Park covers an area of 13 hectares, first phase, at the Hiep Phuoc Industrial Park, in Nha Be district, Ho Chi Minh City and is expected to open in October.  

The project is divided into two phases. Phase one capitalized at USD7.6 million covers three hectares and accounts for 55% of Vie-Pan Industrial Park, the remaining ten hectares makes up phase two from the Hiep Phuoc Industrial Park Joint Stock Company

The Techno Park looks to attract more investment of Japanese businesses into the city. It will provide an all inclusive service, creating favourable conditions for Japanese investors in the city. Up to now, 25 Japanese businesses have registered to operate at the park.

At the ground-breaking ceremony, Japanese Deputy Consul General in Ho Chi Minh city Yoshinori Yakabe said the project is listed in Japan’s national strategy to support small and medium-sized companies.

He confirmed there will be 690 Japanese firms investing in the country’s southern economic hub in 2014, 70 more than last year.

Municipal People’s Committee Vice Chairman Le Manh Ha announced this is the first model to be applied in Ho Chi Minh city to entice Japanese businesses, noting that it will be expanded to other industrial and technology parks across the city.

Ho Chi Minh City is encouraging investment into four crucial fields including electronics, pharmaceutical chemistry, mechanics and food processing.

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