On Tuesday, Saigon broke ground on its very own Silicon Valley.
The city's latest construction project, Saigon Silicon City, will be located within Saigon High-Tech Park (SHTP), 15 kilometers from downtown Saigon. According to Tuoi Tre, the US$40 million high-tech complex will span 52 hectares and take after Silicon Valley, its American inspiration. The two-phase development will reach completion by 2020.
Once finished, Saigon Silicon City will house over 24 tenants and could draw as much as US$1.5 billion in investment, if fully occupied.
Nguyen Minh Hieu, chairman of the development company behind the project, believes the park will attract both local and foreign tech enterprises, a good sign for SHTP, which is one of the city's key economic projects to develop the city through 2025.
Other enterprises within SHTP include international giants like Samsung, Intel and Sanofi Aventis as well as local companies such as FPT and Hutech.
[Photo via Van Hoa Doanh Nhan]
