Saigon Silicon City cooperates with the Utah World Trade Center

Nguyen Minh Hieu (right) shakes hands with representatives of the World Trade Center of Utah (USA) after signing a memorandum under the witness of Chairman of the HCM City People's Committee Nguyen Thanh Phong with the Governor of Utah Gary Herbert. - Photo: Hung Le

On the afternoon of September 1, Saigon Silicon City Park Joint Stock Company, the investor of Saigon Silicon City in Saigon Hi-Tech Park (SHTP) and Utah World Trade Center (USA) signed a memorandum of understanding co-operate.

The signing of this cooperation is in the context of the meeting of the Chairman of the HCM City People's Committee Nguyen Thanh Phong with the Governor of Utah Gary Herbert and the delegation of state officials and businesses to work in Vietnam.

With this agreement signed, the Utah World Trade Center will encourage businesses and other commercial organizations in Utah to invest in Saigon Silicon City, District 9, Ho Chi Minh City in high-tech industries. and advanced manufacturing technology.

In addition, Saigon Silicon City Park Joint Stock Company will create favorable conditions for businesses of the State of Utah to invest with many tax incentives and land rent.

Mr. Nguyen Minh Hieu, Vietnamese American, Chairman of Board of Directors of Saigon Silicon City Park Joint Stock Company, Saigon Silicon City's investor in Saigon Silicon Valley model of US. The knowledge of the World Trade Center of Utah focused on high-tech businesses operating will facilitate the bridge connecting these businesses to invest in Saigon Silicon City as well as the exchange of science and technology.

The Saigon Silicon City project covers 52 hectares, but the area for construction of infrastructure for production is only about half, the remaining area is for tree planting, park development and internal roads. Therefore, the number of investors and enterprises operating there is not much (about 24 enterprises).

With a total investment of about VND860 billion (equivalent to US $ 40 million), Saigon Silicon City will, once completed, become a smart metro, ready for infrastructure and utilities to attract businesses. Overseas Vietnamese businesses, high-tech foreign businesses, especially Silicon Valley enterprises, invest in research and production of high-tech products. as industrial products supporting high technology. Estimated total investment when filling the area of this area is about 1.5 billion US dollars. There are more than 10 businesses investing here.

Mr. Hieu said that in Vietnam there is still a lack of a complete playground, an "ecosystem" including clusters for investors in high technology. And Saigon Silicon City project can be seen as a model of high technology transfer from companies from Silicon Valley to help develop high technology in Vietnam.

"This project is not only aimed at outsourcing technology products from other countries such as the current situation in some industrial zones in Vietnam, but also the combination of R & D and application, directly produce the corresponding technology or product, "Hieu said.

Also at the event, Utah State's Center for Scientific and Technological Research (USTAR), and the Saigon Hi-Tech Park (SHTP) Board of Management signed a memorandum of understanding on cooperation to promote faculty transfer. learning, technology, and commerce to support economic development.

At the meeting with Governor of Utah Gary Herbert, Chairman Nguyen Thanh Phong said that the current investment of US enterprises in Ho Chi Minh City ranked 10th out of 90 countries and territories have investment projects in the city. Mr. Phong invites Utah businesses in particular and US businesses in general to invest more in Ho Chi Minh City.

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