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)

He urged the park’s management board to intensify administrative reforms to make it easier for both domestic and foreign businesses to make investment, while implementing more effectively hi-tech research activities, human resources training, and creating an ecosystem for start-up firms.

The official said Prime Minister Nguyen Xuan Phuc has approved the urban planning for Hoa Lac as one of the first five satellite towns of Hanoi, adding that the capital also plans to invest in an urban railway project to connect with the park.

Therefore, the park should make use of these opportunities to draw more investment, he said.

Covering over 1,580 hectares, Hoa Lac Hi-Tech Park has so far attracted 94 investment projects with total registered capital of VND89.3 trillion (US$3.85 billion). Of them, 51 projects are operational with combined trade turnover of over US$4 billion in the past five years.

More than 22,000 people are studying and working in the park, including 13,000 workers.