SHTP to attract $150 million in investment capital

illustration photo

The park also set the target of $3.3 billion to be achieved in export turnover this year. The information was announced at a meeting held by the SHTP Management Board on January 20.

In order to reach the targets, head of the SHTP Management Board Le Hoai Quoc said SHTP would call on potential investors from the US, Japan, South Korea, Singapore, Taiwan and Germany. “The park has also speeded up the infrastructure development at a 70-hectares land plot so that the Samsung project can be put into operation next year,” he added.

“To ensure sustainable development, SHTP needs to make further investments into research and development projects as well as nurturehi-tech businesses. Meanwhile, it should create more favourable conditions to attract both domestic and international investors,” said Le Manh Ha, Deputy Chairman of the Ho Chi Minh City People’s Committee.

At the meeting, SHTP and Dutch-based company Fab Max B.V signed a memorandum of understanding (MoU) aimed at training skilled workforce in the semiconductor industry under the sponsorship of the government of the Netherlands.

According to the MoU, the training programme will be jointly conducted by the two sides that will endeavour to enhance information exchange and boost business cooperation in the sector. The memorandum signifies the commitment and efforts of SHTP and Fab Max B.V to improve the quantity and quality of Vietnamese workforce, meeting the requirements of high-tech firms both in the park and in the city, suggesting long-term aims of cooperation.

SHTP has made a splash in terms of investment attraction in 2014 with 10 projects totalling at $1.89 billion in the registered investment capital, a 670 per cent on-year growth. This unprecedented figure sets a new record for Ho Chi Minh City attesting to the largest investment capital of hi-tech projects flowing into the city up till now.

Among others, there are six domestic projects valued at $348 million and four FDI ones worth $1.55 million. Notably, the Samsung project contributed $1.4 billion to SHTP’s total FDI.

Additionally, SHTP’s export turnover last year hit $3.126 billion, accounting for over 90 per cent of the second city’s total export value. The localisation ratio in high-tech products reached 32 per cent, surpassing this year’s target by 25 per cent set previously.