Hanoi finds key investor for $1 billion milestone software and digital content park

The Hanoi People’s Committee has approved in principle to allow Binh Duong Investment and Trade JSC (Becamex ITC) to study the development of a software and digital content park in the capital’s Dong Anh district, according to newswire Cafef.

According to Hanoi’s plans, the project, which is an important part of the city’s development strategy in the 2016-2020 period, will have the investment capital of VND24 trillion ($1.08 billion) and cover an area of 80 hectares in the two communes of Nguyen Kha and Tien Duong.

Once it comes into operation, the park will offer international standard facilities and is expected to heat up the IT scene in the city by creating opportunities for co-operation and attracting investment capital. In addition, the project is expected to generate 40,000 jobs.

Earlier in April, Prime Minister Nguyen Xuan Phuc approved the development of a VND10.5 trillion ($471.89 million) IT hub in Long Bien district. The 43-hectare project will be funded by Hanel Co., Ltd and the construction is expected to be finished in 2019.

This new IT hub aims to lay down the foundations of a knowledge-based economy and to boost the IT industry, particularly in the field of software development.

Established in 2003, Becamex ITC is a subsidiary of Invesment and Industrial Development Corporation (Becamex IDC), which operates in a variety of sectors, such as finance, insurance, banking, construction, education, and IT, among others.

Becamex ITC specialises in the construction sector with numerous successful projects, namely Ngu Thuong Khai Hoan urban area, Goldland luxury villa project, and My Phuoc 1 and My Phuoc 3 industrial parks and townships.