Singaporean firm to invest in innovative park in HCM City

The firm’s general director Kelvin Teo discussed the plan with Chairman of HCM City’s People’s Committee Nguyen Thanh Phong during a working session on May 27.

The general director said the park will need about 50-100 hectares of land near the city’s centre, adding that it differs from other industrial zones in that it will have a commercial centre, research facilities and residential quarters to ensure quality living conditions for scientists and experts.

Once operational, it will attract investors and interdisciplinary experts from all over the world to develop new products, he said.

According to Chairman Nguyen Thanh Phong, the HCM City Hi-tech Park has sufficient conditions to meet Sembcorp Development’s requirements for the project.

He assigned the hi-tech park’s management board and relevant agencies to work with the Singaporean firm on land use procedures.

The city leader also expressed his hope that the firm will invest more in the development of renewable, wind and solar energies in the city.

So far, Sembcorp Development has poured US$8.5 billion into 7 projects in Vietnam, creating about 160,000 jobs.