The Hoa Lac Hi-tech Park expects to attract more development investment thanks to gradually improved infrastructure and specific incentives.

Attracting many investment projects

The Hoa Lac Hi-tech Park has so far attracted 72 investment projects with a total registered capital of more than VND56 trillion that focus on software manufacture and trade, medicine, electronics, automation and telecommunications equipment manufacture.

Currently, the park attracts more than 10,000 students and workers, achieving more than US$130 million in total annual export value.

Some prominent projects underway in the park are Viettel Hi-tech Building, FPT University, FPT Software Village, Nissan Techno Vietnam’s Hoa Lac Technical Center, Noble Electronics Vietnam Co., Ltd, Vietnam Korea Medical Corporation (Vikomed), and Medlac Pharma Italy Co., Ltd.

In addition to investment attraction, the Hoa Lac Hi-tech Park Management Board has also focused on investment license granting, site assignment decisions to ensure committed scale, progress and implementation targets. To date, 17 investment projects have related investment license revoked and site assignment decisions due to failure in implementation progress.

According to Vikomed Chairman Tran Ngoc Liem, the company entered the park early and received maximum incentives from the management board, especially for investment license granting and site assignment decisions. All administrative procedures were completed within a month without any other consultancy.

Striving to offer better services

Director of the Hoa Lac Hi-tech Park Management Board and Deputy Minister of Science and Technology Pham Dai Duong said to further enhance its investment attractiveness, the park planned to take drastic measures in the coming time.

The park is involved in infrastructure construction from the US$300 million as Japan’s official development assistance (ODA) funding and expects to complete the project by 2018. By the time, it would meet investor demand of modern and systematic technical infrastructure.

The Ministry of Science and Technology has completed a draft of regulations and incentives for the park and has submitted to the government for approval. The draft has six chapters and 31 articles focusing on removing existing difficulties and promoting development. Investors in the park will anticipate a healthy investment environment with simplified administrative procedures, low investment costs, tax incentives and preferential land leasing rates.

“We as well as other investors are looking forwards to a specific mechanism for the Hoa Lac Hi-tech Park. We believe that the new mechanism will help the park develop as the expectations of Vietnamese Government,” said Noble Electronics Vietnam Co., Ltd CEO Horaguchi Hiroshi.

Source: VEN