SHTP aims to become region's Silicon valley

PM Nguyen Xuan Phuc (first row, center) visits  the HCM city High-tech Park on October 29, 2017.

The Saigon Hi-tech Park's hi-tech production growth is times higher than other industrial parks. SHTP has created a favorable environment for high-tech research and development and start-up. Construction of Saigon Silicon City, which covers 52 ha and will cost US$1.5 billion started at SHTP last year.

As of September, the park housed 130 projects with a total registered capital of US$6.8 billion . Investment capital there is expected to reach US$12 billion this year and more than US$20 billion by 2020. The park has created approximately 40,000 jobs. 

Nguyen Minh Duc, a NA deputy for Ho Chi Minh city said “The Silicon Valley in Ho Chi Minh City will create favorable conditions for local development. Thanks to its open door policy and improved administrative procedures, the city will attract more foreign technology and high-quality human resource.”

Local authorities and the SHTP Management Board have revised policies and mechanisms to attract quality sci-tech human resources. They have implemented training strategies to create a startup ecosystem and sci-tech research and development centers. 

Addressing the Park’s 15th anniversary, Prime Minister Nguyen Xuan Phuc said "SHTP should become a second Silicon valley , a major R&D center, and a high-quality human resource training center. It should also be an eco-smart urban area and a high-tech incubator that will help Ho Chi Minh city become the first smart city in Vietnam”.

Prime Minister Phuc says the government will issue more incentives for high-tech parks and high-tech products.