Taiwan Group Joins US$1.2 Bln Software Park Project in Vietnam
HCM City last week granted an investment license to Taiwanese Teco Group and Saigon Telecommunication and Technologies Corp (SaigonTel) to build US$1.2 billion Software Park in Thu Thiem New Urban Area, the Thanh Nien newspaper reported.
The Thu Thiem Park will break ground next month on total area of 16 hectares. Of the area, 75 per cent will cater for high-tech and software bases, 15 per cent for trade centers and the last for residential buildings.
To carry out the project, the two companies will set up a joint venture named the Teco-SaigonTel Software Park joint venture, which SaigonTel will hold a 20 per cent stake while the foreign partner 80 per cent.
Work on the project is scheduled to be finished by 2016.
The park will be home to software companies which have bases in Nankang Park, the world’s third largest software park in Taiwan and want to expand to Vietnam, Dang Thanh Tam, chairman of SaigonTel said, adding that the park will help Vietnam lure more foreign investors.
Vietnam software industry's revenue grew six times in 2000-2006 and accounted for 0.4 per cent of the country's gross domestic product.
Vietnam plan to become the third largest supplier of software developers in the world after India and China in the near future. (Young People)
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