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PM approves IT park establishment in Danang
The Saigon Times Daily
Wednesday,  Jan 8, 2020,19:38 (GMT+7)

PM approves IT park establishment in Danang

The Saigon Times Daily

An artist's impression of Danang IT Park - PHOTO: CONG THUONG

HCMC - The prime minister has just signed a decision approving the establishment of an information technology park in Danang City, which is expected to be modelled after the United States’ Silicon Valley.

The Danang Department of Information and Communications on January 7 announced that Prime Minister Nguyen Xuan Phuc had approved the Danang IT Park (DITP) project. Located in Hoa Lien Commune, Hoa Vang District, Danang City, its first phase will cover 131 hectares, Thanh Nien reported.

This decision will give the DITP access to preferential policies for concentrated IT parks under Decree No. 154, dated 2013, and other policies.

In particular, the Government assigned the Danang City People’s Committee to manage the disbursement of the State budget to develop infrastructure connecting to the DITP. The city has also been asked to attract domestic and foreign enterprises to invest in the park. 

Initially, DITP was funded by American businesses and covered some 341 hectares (for two phases), with capital amounting to US$278 million. However, due to the lack of capital, the project was delayed. Danang People’s Committee thus withdrew the license. 

After that, Danang IT Park Development Joint Stock Company (under Trung Nam Group) took over the project and proceeded to turn it into the next Silicon Valley. 

Recently, during an investment promotion trip to the United States, Danang City People's Committee and Trung Nam Group signed cooperation agreements with enterprises operating in Silicon Valley to do business at the DITP.

Construction of the concentrated IT park’s first phase has been completed. Trung Nam Group has applied for the city to approve the execution of the second phase.

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