Ireland’s Pacific Land Ltd has obtained approval in principle from the Vietnamese government to build a US$1 billion biotechnology park in Hanoi.

HaBiotech will see research into new drugs and products for agriculture and environmental protection.

It will be a bio-industrial complex comprising a biology nursery section and hi-tech labs with advanced facilities to facilitate research, development, and training.

There will also be areas earmarked for suppliers, manufacturers, and other biotech agencies.

In its first phase the 200 ha park will be situated in the Hanoi Hi-Tech Zone and in the extended part of the Southern Thang Long Industrial Park in Tu Liem district.

The second phase will see it expanded to 500 ha.

PLL plans to pump in some $200 million to develop infrastructure.

If things go to plan, HaBiotech park will be up and running in three years.

PLL said potential clients included leading companies from the US, UK, Japan, Germany, Switzerland, and Sweden who were ready to make investments in new markets.

Prime Minister Nguyen Tan Dung has instructed authorities to verify the investor’s financial status and assist in setting up the project.

PLL – a giant real estate developer in the Ireland - is introduced to the city authorities by the international auditing firm KPMG and Ireland’s Anglo Irish Bank Corporation Plc.

Works fasten on hi-tech

The PM has directed the Ministry of Science and Technology to work with its Japanese partners to draw up detailed reports on infrastructure development at the Hoa Lac Hi-tech Zone.

The government hopes to receive assistance from the Japanese government for the facility this year.

The ministry, along with the Ministry of Planning and Investment, has also been tasked with drafting incentives to woo investors.

The 1,650 ha Hoa Lac will include a research centre, a software park, a hi-tech industrial area and an administrative and trade complex.

It is one of three projects given top priority by the government.

The high-tech park management authorities have licensed six projects with a total capital of US$7.1 million.

Of them, three are operational and the other expected to start construction by the end of the year.

Source: thanhnien