A rendering of Hanoi's Hoa Lac Hi-tech Park
The construction of infrastructure projects at Hanoi's Hoa Lac Hi-Tech Park was launched on Friday, after being delayed for years due to sluggish site clearance, local media reported.
About US$450 million has been assigned for the task, most of which comes from Japan's official development assistance funding program.
When all the infrastructure projects are ready in 2018, the park, around 47 kilometers from the city's center, will attract more investment, Hoa Lac's management board was quoted as saying.
Since Hoa Lac was established in 1998, Vietnamese authorities have licensed 67 hi-tech projects with a combined capital of over VND56.8 trillion, including a $35-million tech institute invested by the South Korean government, Pham Dai Duong, chief of the management board, said.
About half of the approved projects have gone into operation, Duong said.
Last year total exports of these businesses hit $133 million.