Work Starts on Second Phase of Saigon Hi-tech Park

After four years of operation, Saigon Hi-tech Park (SHTP) has basically completed the sub-zone of the first phase. The developer has reclaimed 694.15 hectares of land, or 86.7 percent of the total reclaimed area, and spent VND2,976 billion on compensations. Six resettlement zones for the high-tech park needs to be built for reallocated residents.

 

The park housed 41 projects worth US$1.76 billion, including 22 FDI projects with US$1.57 billion. As much as 95 percent of rentable area of the first phase has been filled.

 

SHTP Authority will start work on the second phase to expand the park by 613 hectares. The second phase, to be developed at a cost of VND5.8 trillion (some US$300 million), will include a supporting industry area, a hi-tech manufacturing area, a research & development and training area, a business incubation area, park, water surface, etc.