The Hanoi Department of Information and Communications has proposed the city government approve a plan to develop a software and digital content park worth VND24 trillion (US$1.08 billion).

The software park would go up at an 80-hectare location in Nguyen Khe and Tien Duong communes, Dong Anh District. The project on Vo Nguyen Giap Street, which connects central Hanoi and Noi Bai International Airport, is expected to create jobs for 40,000 people.

The project aims to support the development of the Cau Giay IT Software Park whose land has been leased out to more than 300 investors.

Hanoi expects the international-standard park would help woo information technology (IT) firms, boost technology transfer and develop the technology industry. 

At a recent meeting with the department, Hanoi vice chairman Ngo Van Quy requested the agency and the consulting firm of the project to clarify whether the project meets legal requirements and is consistent with relevant zoning plans and IT development orientations of the Government and the city. They need to analyze the socio-economic benefits of the project as well as propose a management model and funding sources.

Hanoi has identified IT as one of the key sectors and the city has launched a slew of programs to realize the goal.

In 2013, Hanoi asked relevant agencies to recognize the Cau Giay Small Industrial and Handicraft Cluster as a concentrated IT park of the same name, the first such area in the city.

At the end of March, the Prime Minister approved the establishment of Hanoi IT Park in Long Bien District as proposed by the city. Local firm Hanel was picked as the investor of the project.

The VND10.5 trillion (US$471.6 million) project covers more than 43 hectares and is scheduled to get off the ground this year and come on stream in 2019.