Hanoi attracts state-of-the-art high-tech

13:00 | 30/07/2020 Science - Technology

(VEN) - The Hoa Lac Hi-Tech Park (HHTP) is one of three national high-tech parks managed by the Ministry of Science and Technology, but its occupancy rate, investment attraction and total import-export turnover remain modest.

hanoi attracts state of the art high tech

HHTP development slower than expected

The Hanoi People’s Committee gave the HHTP’s Management Board 1,586ha for construction and development of the park, located 30km west of the city center. To date, some 240ha have been filled, representing an occupancy rate of nearly 30 percent.

Since 2019, eight new projects have been granted investment licenses with total registered capital of more than VND14 trillion. In total, since its establishment, the park has attracted 94 investment projects with total registered capital of about VND89.3 trillion, of which 51 projects are already in operation with total import-export turnover of more than US$4 billion in the past five years. Currently, high-tech products developed and manufactured in the HHTP include 5G smartphones and 5G network equipment manufactured by Vinsmart in cooperation with Qualcomm and cutting-edge aircraft engine components made by Hanwha Aerospace.

However, in addition to these positive results, the park has not met its potential. Tran Dac Trung, deputy head of the HHTP’s Management Board, said development was slow due to limited transport infrastructure and delays in site clearance and infrastructure construction.

hanoi attracts state of the art high tech

Completing infrastructure to attract investment

Minister of Science and Technology Chu Ngoc Anh said that since the HHTP’s inception in 1998, site clearance has taken up most of the construction time. After more than 20 years, the park is taking shape with a synchronized ecosystem and ready to produce made-in-Vietnam products.

The HHTP is in the process of selecting the most suitable projects to invest in the park, like universities, research projects and businesses whose financial support comes from the state. One of the HHTP’s key objectives is to formulate new high-tech to contribute to national socioeconomic development and to provide high-tech skilled workers to the labor market.

During a July 10 working trip to the HHTP with the aim of removing bottlenecks for the park to welcome a new wave of investment, Hanoi Party Committee Secretary Vuong Dinh Hue asked the park’s management board to promote investment in infrastructure.

Hue also asked the Ministry of Science and Technology in coordination with the Hanoi People’s Committee to promptly resolve the difficulties and problems in order to accelerate the completion of the park, especially site clearance and technical infrastructure construction.

Hue urged the park’s management board to intensify administrative reforms to make it easier for both domestic and foreign businesses to make investment, while implementing more effectively high-tech research activities, training human resources, and creating an ecosystem for startup firms.

Hue said Prime Minister Nguyen Xuan Phuc has approved the urban planning for Hoa Lac as one of the first five satellite towns of Hanoi, adding that the capital also plans to invest in an urban railway project to connect with the park. Therefore, the park should make use of these opportunities to draw more investment, he said.

To attract investment in high-tech projects, the Ministry of Science and Technology has directed the park’s management board to formulate an investment attraction strategy in the HHTP until 2030.

Nguyen Hanh