Hoa Lac Hi-Tech Park hopes for new wave of investment
Politburo member Vuong Dinh Hue, Secretary of the Hanoi Party Committee, made a working trip to the Hoa Lac Hi-Tech Park on July 10 with the aim of removing bottlenecks for the park to welcome a new wave of investment.
Secretary of the Hanoi Party Committee Vuong Dinh Hue (front, middle) visits a production line at Hanwha Aero engines factory of Hoa Lac Hi-Tech Park. (Photo: VNA)
Hanoi (VNA) – Politburo member VuongDinh Hue, Secretary of the Hanoi Party Committee, made a working trip to the HoaLac Hi-Tech Park on July 10 with the aim of removing bottlenecks for the parkto welcome a new wave of investment.
He urged the park’s management board to intensifyadministrative reforms to make it easier for both domestic and foreignbusinesses to make investment, while implementing more effectively hi-techresearch activities, human resources training, and creating an ecosystem forstart-up firms.
The official said Prime Minister Nguyen XuanPhuc has approved the urban planning for Hoa Lac as one of the first fivesatellite towns of Hanoi, adding that the capital also plans to invest in anurban railway project to connect with the park.
Therefore, the park should make use of theseopportunities to draw more investment, he said.
Covering over 1,580 hectares, Hoa Lac Hi-TechPark has so far attracted 94 investment projects with total registered capitalof 89.3 trillion VND (3.85 billion USD). Of them, 51 projects are operational withcombined trade turnover of over 4 billion USD in the past five years.
More than 22,000 people are studying and workingin the park, including 13,000 workers./.
Disbursement of foreign capital for infrastructure construction only reached 23.2 percent of the plan as of October 15, 2019, reported the Finance Ministry on October 23.
The Hoa Lac Hi-tech Park must serve as the country’s hub for hi-tech workforce training, said Chairwoman of the National Assembly Nguyen Thi Kim Ngan during her visit to the Hanoi-based park on November 23.
Planning for five satellite urban areas in Hanoi, which is expected to help reduce the overloading of the urban centre, lags behind schedule, the municipal Department of Planning and Architecture has said.
The Hoa Lac Hi-Tech Park, based in Hanoi, has to date attracted 90 projects with total registered capital amounting to 85.8 trillion VND (3.7 billion USD).
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Secretary of the Hanoi Party Committee Vuong Dinh Hue (front, middle) visits a production line at Hanwha Aero engines factory of Hoa Lac Hi-Tech Park. (Photo: VNA) 
