Saigon Hi-Tech Park set for $725 million expansion
Saigon Hi-Tech Park set for $725 million expansion
The Management Board of Saigon Hi-Tech Park (SHTP) has submitted a proposal to Ho Chi Minh City People's Committee to expand the facility, incorporating the function of a science and technology park.
The expansion aims to establish the park as a multidisciplinary hub for sci-tech that will foster the technological capabilities of those living in the city’s eastern region.
According to the proposal, the expansion will cover almost 195 hectares, with a total estimated investment of $724.6 million.
This includes around $525 million allocated for land compensation, clearance, and resettlement, and $175 million for infrastructure construction, with the rest going on additional costs.
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The funding will come from Ho Chi Minh City’s budget and central government support, with a request for the latter to contribute 30 per cent of the total investment; in addition, the city plans to mobilise private sector resources for developing fee-based, specialised infrastructure.
The undertaking is scheduled for implementation between 2025 and 2033.
To accelerate the process, SHTP has recommended that the municipal authorities develop institutional frameworks for the High-Tech Park and the science and technology park, aligning them with sustainable and innovative urban models that meet Asian standards.
They also propose that the central government continue to allocate targeted funds for infrastructure development, maintaining the 30:70 central-local budget ratio.
Additionally, the proposal seeks approval from the National Assembly to separate land clearance and compensation into an independent venture, distinct from the broader infrastructure development of the expansion.
This initiative underlines Ho Chi Minh City’s commitment to becoming a leading centre for sustainable and innovative technological development in the region.
Currently, SHTP has enticed investments from more than 10 global tech giants, including Intel, Jabil, Rockwell (US), Nidec, Nipro, NTT (Japan), Samsung (South Korea), Sanofi (France), and TTI (Germany), among others.
The park currently hosts more than 160 active projects with a total investment value surpassing $12.3 billion.
The groundbreaking ceremony for a plasma-based biopharmaceutical production plant took place at SHTP on January 6, making it the first project to commence construction at SHTP in 2025.
The plant is expected to become operational from February 2026, with a capacity of 6,000 litres of plasma per year, meeting the treatment needs of 250 million people.
Additionally, it will ensure the country's strategic medical reserves, enabling preparedness for pandemics and natural disasters while reducing reliance on imported pharmaceuticals.
