Hoa Lac Hi-Tech Park boosts investment climate improvement

15:13 | 05/06/2018 Investment

The Management Board of Hoa Lac Hi-Tech Park (HHTP), based in Hanoi, will press on with improving its investment environment to attract more funding.

The software village in Hoa Lac Hi-Tech Park of Hanoi - Photo: VNA

Deputy Minister of Science and Technology Pham Dai Duong, who also chairs the HHTP Management Board, said in the first four months of 2018, the management board granted investment registration certificates for four projects worth nearly 10.92 trillion VND (US$477.7 million) and covering 15.4 hectares of land.

In 2017, certificates were provided for three projects with total investment of more than 5 trillion VND, covering 11.7 hectares of land.

Compared to 2016, average investment per hectare of land here has risen by more than two times to US$31.5 million at present.

Duong said projects with investment registration certificates are being swiftly implemented. Notably, the factory of the Hanwha Aero Engines company, invested by the Republic of Korea’s Hanwha Techwin Co. Ltd, has had its construction completed and is operating on a trial basis. This factory project has total registered capital of US$200 million, which is expected to rise to US$260 million in 2021.

Meanwhile, two of the five projects worth US$1 billion in total in the HHTP invested by Japan’s NIDEC Corporation received investment certificates last April. They are working to finalise procedures for construction so as to put the plant into operation in the first quarter of 2019.

He noted the HHTP Management Board will propose mechanisms and policies for the park to improve investment quality. It will also continue reviewing projects to ensure they are implemented as scheduled and prevent land wastefulness.

The board has so far revoked 19 projects that lagged behind schedule or failed to run as planned. It has also reduced land areas used by two other projects, the official added.

Located in Thach That and Quoc Oai districts, the 1,586-hectare Hoa Lac Hi-Tech Park is being developed into a science city hosting investors in biotechnology, information – communications, new material technology and automation.

Theo VNA