The authorities of Hanoi have submitted a proposal to Prime Minister Nguyen Tan Dung to establish an information technology park in Long Bien District, at a cost of VND10.5 trillion (over $480 million).

According to the petition, the IT park will cover an area of 43 hectares and will be developed by Hanel. Co., Ltd.

The project will be implemented from 2015 to 2019.

It is expected that once the IT park is completed, it will contribute to developing a knowledge-based economy, particularly the software and IT industry of Hanoi, creating favorable conditions for attracting domestic and foreign investment.

Hanoi currently has only one IT park in Cau Giay district.

According to the Hanoi People's Committee, the park is fully occupied with over 300 enterprises.