Saigon Hi-tech Park actively attracts high added-value projects

After 20 years running, Saigon Hi-tech Park (SHTP) has been trying to transfer its focus towards quality and performance, prioritizing the commercialization of research results while attracting more projects with high added values.

Research activities in USM Healthcare, specializing in coronary stent production and sited in SHTP. (Photo: SGGP)

During its 20 years development, SHTP has issued investment certificates for 163 projects with the total capital of over US$12 billion, including an FDI amount of more than $10 billion. It has greatly contributed to the national economic transfer towards high technology and quality increase. The export turnover of hi-tech products in HCMC this year is expected to reach $23 billion (accounting for 52 percent of the city’s total export turnover).

Vice President of SHTP’s Management Board Le Bich Loan said that the achieved results prove how correct the decision of the municipal authorities and the central Government is regarding science-technology development via welcoming national and international projects from technological businesses. These projects have then helped to improve the investment environment of HCMC and the Southern key economic zone in general.

SHTP’s achievements so far also display a strong determination and efforts of both the organization and the city leaders to overcome challenges. For instance, in 2007, seeing there were 30 projects with the total investment amount of over $1 billion waiting for land allocation, HCMC People’s Committee immediately worked with the Ministry of Planning and Investment for an approval from the Prime Minister about comprehensive planning adjustments. The result was an increase of over 900ha and a capital rise of more than VND2 trillion ($81.6 million) to upgrade necessary infrastructure for those projects.

That led to the establishment of Intel Groups’ IPV factory (the US), which then produced the first chipset batch for export in 2010. Four years later, SHTP successfully attracted the project Samsung HCMC CE Complex by Samsung Electronics (the Republic of Korea) with the total investment amount of $1.4 billion.

Recently, SHTP has actively boosted research and development activities inside the premise, while increasing money for training activities for high-quality human resources. Many leading corporations has been building their R&D centers in SHTP for their further development in Vietnam. Simultaneously, several domestic businesses have signed contracts for technology transfer from hi-tech production projects in SHTP.

“At present, SHTP is changing its competitiveness focus for the 2020-2025 period to upgrading the human resources and capacity of the science-technology field in Vietnam, developing supportive industries for key FDI projects. SHTP is going to attract investment in the industries of its strengths or of national priority, as well as high added-value projects”, said Assoc. Prof. Dr. Nguyen Anh Thi – President of SHTP’s Management Board.

In the upcoming time, SHTP will continuously innovate itself to become a smart innovative technology park and the core of the Eastern highly interactive innovative urban area of HCMC, the ideal place for innovative businesses that greatly contribute to the socio-economic development of the city. In addition, SHTP aims at attracting $3 billion of investment amount in 50 hi-tech projects and the establishment of 1-2 global hi-tech corporations.

To fulfill those goals, SHTP is going to accelerate investment projects for its heart - the Scientific Space - with the surface area of 93ha, to increase the link between enterprises sited in SHTP and universities, research institutes in the region, especially Vietnam National University – HCMC, in order to increase the proportion of hi-tech products by domestic companies.

The total FDI investment into SHTP is over $10.1 trillion (51 projects) and the total domestic one is $1.9 trillion (109 projects). the export turnovers of 2017 and 2021 were more than $10 billion and $20.9 billion, respectively. It is forecast that the one of 2022 will be $23 billion.