09:15 | 23/11/2015 Economy
The Silicon Saigon Park JSC held a ceremony to commence the construction of the "Saigon Silicon City" in the Saigon Hi-Tech Park (SHTP) on November 10.
The project follows the model of the US's Silicon Valley
The project follows the model of the US's Silicon Valley, home to many of the world's biggest high-tech corporations and technology start-up companies.
It has an investment capital of about 860 billion VND (40 million USD) poured by Overseas Vietnamese investors from the US’s Silicon Valley, and will be spread over 52 hectares.
The Saigon Silicon City is expected to lure around 1.5 billion USD in investments from 20 investors in high-tech area and support industry from 2015 to 2020.
According to Chairman of the Silicon Saigon Park Nguyen Minh Hieu, the project will become an international-standard smart urban area to attract overseas Vietnamese and foreign enterprises with investments in the high-tech area.
Vice President of the municipal People’s Committee Tat Thanh Cang pledged that authorities will be ready to remove difficulties that may arise for businesses in the Saigon Silicon City./.