One month after receiving an investment license from the People committee of Hochiminh city, on July 19, Saigontel-teco join venture finished all the necessary procedures to start building Thu Thiem software park ( in District 2- Hochiminh city) . - TA Associates International Pte, Ltd of Singapore (member of Teco Group, Taiwan - China) and SaigonTel will establish a joint venture to implement this project with total investment capital of 1.2 billion USD, in which Saigon Tell will contribute 20% of chartered capital.
The park will be built on 15.9ha of land in the centre of the new residential area of Thu Thiem. This is the biggest software park in and
South East Asia
with total floor space of 650,000 square meters. After finish building in 2012,
Thu
Thiem
Software
Park
will attract FDI about 3 billion USD per year, and bring in an annual revenue of 6.5 billion USD. When on line, the software park will provide jobs for some 70,000 IT staffs, working in technology-related fields.
Thu Thiem Software Park will be a place to develop high quality human resources not only for Hochiminh city but the Southern economic zone as well, contribute to the changing of economic mechanism with the orientation of using many intellectual properties, thus create favorable conditions for the speedy and sustainable development of intellectual economy, simultaneously attract more investment in Thu Thiem residential area.
Teco Group is managing the Taiwan-Nankang software park. With total investment of 3.5 billion USD and revenue annually reaches 10 billion USD, it is regarded as one of the biggest software centers in the world. The investment of Teco in Thu Thiem Software park proves the fact that is qualified enough in producing and supplying soft wares for the world’s market.
At the license-award ceremony, TA Associates Vietnam funded VND2 billion to the District 2 authorities to help local poor people.
