New investment boost at Hoa Lac Hi-tech Park

10:09 | 18/12/2019 Science - Technology

(VEN) - The Management Board of Hanoi’s Hoa Lac Hi-Tech Park (HHTP) has approved four projects totaling about VND7.46 trillion in registered capital, and signed a new strategic cooperation agreement with Viettel Group on expanding its investment in high-tech research and production. The decisions were made within the framework of a November 23 visit to the site by National Assembly Chair Nguyen Thi Kim Ngan.

new investment boost at hoa lac hi tech park

Attracting big investors

In the first quarter of 2020, Viettel will start construction of a 9.1-hectare production complex in HHTP, where the group will test and manufacture its hi-tech equipment. Viettel will also build the 13.2ha Viettel Research and Development Center as an incubator for Viettel’s key projects including military industrial products, electronics and telecommunications equipment, and 5G and IoT (the Internet of Things) network infrastructure, among others.

On this occasion, Vingroup Group’s VinSmart Company inaugurated the first phase of its electronic equipment factory complex in HHTP, with a large product ecosystem including smart phones and smart electronic devices, among others. The complex will become a leading modern technology and equipment manufacturing center in the region.

According to the Hoa Lac Hi-Tech Park Management Board, HHTP has so far attracted 91 investment projects totaling VND86.365 trillion in registered capital, including 45 software training, research, production and outsourcing projects, projects for production of high-tech products in the fields of information technology, biotechnology, new materials technology, and automation technology, and technical and social infrastructure development projects.

Many leading domestic and foreign corporations have investment projects in HHTP, including Hanwha Aerospace (from the Republic of Korea or RoK), a research and development center of Nissan Techno Group (Japan), Nidec Group (Japan), DT&C Co., Ltd (an equipment testing firm from the RoK), Viettel Group, Vietnam Posts and Telecommunications Group (VNPT), FPT Group, and Vingroup.

Creating favorable conditions for businesses

The Hoa Lac Hi-Tech Park Management Board is developing programs and strategies to attract investment until 2025 with a vision to 2030, closely following the Politburo’s guidelines stated in Resolution 50-NQ/TW dated August 20, 2019, on improving foreign investment, and Resolution 52-NQ/TW dated September 27, 2019, referring to guidelines and policies on the Fourth Industrial Revolution participation and foreign investment promotion.

Giving a speech during her visit to HHTP, National Assembly Chair Ngan praised efforts by the Ministry of Science and Technology and the Hoa Lac Hi-Tech Park Management Board as well as investors who have helped make HHTP an incubator of high-tech projects and an attractive, reliable destination for domestic and foreign investors.

The chairwoman proposed that the Ministry of Science and Technology learn from foreign experience, prepare plans for increasing HHTP’s development capability to attract more domestic and foreign investors; and promptly remove difficulties and create the most favorable conditions for domestic and foreign technology development in Vietnam so that HHTP can become a technological development hub in Vietnam and the region, contributing to improving productivity, efficiency and competitiveness of the Vietnamese economy.

The chairwoman also proposed that HHTP businesses and investors draw up plans for development, innovation, production expansion and advanced technology application; take the initiative in creating Vietnamese products, launch quality technological products onto the market, develop branding and add value to Vietnamese products, and make science, technology and innovation a motivating force of the country’s economic growth.

The Hoa Lac Hi-Tech Park is expected to attract additional investment projects totaling VND26 trillion in registered capital.

Quynh Nga