Work begins on Vietnam-Japan Techno Park

Construction began on a Vietnam-Japan technology park in Ho Chi Minh City on February 17, in a bid to develop Vietnam’s support industry.

Vie-Pan Techno Park covers an area of 13 hectares in Hiep Phuoc Industrial Park, with total investment of up to 31 million USD. It is expected to go into operation in October.

The project will be developed in two phases. The estimated capital of phase one is about 7.6 million USD. Of which, Vie-Pan Industrial Park of Japan shoulders 55 percent, with the remaining coming from the Hiep Phuoc Industrial Park Joint Stock Company.

The Vie-Pan Techno Park aims to lure more investment from Japanese support industry firms. To that end, the park will provide an all-in service, creating favourable conditions for Japanese investors in the city.

Speaking at the ground-breaking ceremony, Japanese Deputy Consul General in Ho Chi Minh City Yoshinori Yakabe said the project was listed in Japan’s national strategy in support for small and medium-sized companies.

He said there will be 690 Japanese firms investing in the country’s southern economic hub in 2014, 70 more firms than in 2013.

Le Manh Ha, Vice Chairman of the municipal People’s Committee, said this is the first model to be adopted in Ho Chi Minh City to lure Japanese businesses, voicing his hope that it will be expanded to other industrial and technology parks in the city.