HCMC is making efforts to establish a 200 hectare science and technology park with the total capital of VND4.3 trillion (US$189 million), said chairman of the city People’s Committee Nguyen Thanh Phong yesterday.

Chairman Nguyen Thanh Phong states at the conference

He was speaking at the 21st annual conference of Asian Science Park Association (ASPA) opened in HCMC, gathering over 400 delegates from nations and territories such as Japan, South Korea, Iran, Turkey, the US, Russia, Singapore, Malaysia and Taiwan.

According to Mr. Phong, the park establishment aims to attract investment in grey matter sector. That will study and apply advanced technologies to create eco-friendly technology, information technology, renewable energy and space technology products.

The park will be a foundation for the city’s economic development basing on science and technology and innovation.

He called on businesses to continue expanding investment in the city and committed to always siding with them and consistently implementing assistance polices.

In addition, the city will continue improving investment environment, building e-government and smart city; solve administrative reform congestion; make auction and bidding the main method to distribute resources in the city.

HCMC has determined to create breakthroughs in economic development, science and technology.

In the phase of 2011-2015, the science and technology field grew 16.9 percent, the highest in nine major service sectors. Contribution of total factor productivity (TFP) to economic growth reached 33.1 percent, higher than the country’s average of 29 percent, with science and technology accounting for over 70 percent.

so far, HCMC has attracted 130 hi-tech projects with the total capital of $6.8 billion. Tech products’ added value averages $6.8 billion. The hi-tech field is expected to contribute 10 percent of the city’s gross regional domestic product by 2020.

SGGP