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May 27, 2008

PM approves adjustments to Tech Zone plan

The Prime Minister of Vietnam has approved the adjusted plan on construction of the Hoa Lac Hi-tech Zone, giving the green light to begin construction of the national hi-tech development and application centre.

The zone will be built on nearly 1,600 ha in Ha Tay province, wedged between the Lang-Hoa Lac highway and national highways 84 and 21.

Under the adjusted plan, the hi-tech zone will include 550 ha of hi-tech industrial park as well as houses, offices, apartments, a recreation and sports area. The zones population will increase from more than 11,000 at present to 143,000 people in 2015 and 229,000 people in 2020.

The zone will be connected to urban Hanoi by a new railway line in order to facilitate passenger transport between the industrial park and the capital city.

The Hoa-Lac Hi-tech Zone project was approved by the PM in 1998 as a major national project but its implementation has faced difficulties and was once postponed.

The implementation resumed several years ago with assistance of Japanese experts. In a joint statement in 2006, Japan pledged to support Vietnam in the planning and called on Japanese businesses to invest in the development.

Since early 2007, many business delegations from Japan, the Republic of Korea, China, the US and Taiwan have visited to investigate investment opportunities in the zone. Businesses have signed memorandums of understanding to invest a total of $500 million in the zone in 2007 and 2008.

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