The Ho Chi Minh City People’s Committee released its approvals of nine investment projects, including a foreign direct investment (FDI) project and eight domestic ones, into the Saigon Hi-tech Park (SHTP) with a total value of 777.29 million USD.

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Techtronic Industries from Hong Kong (China) is the investor of the FDI project into Techtronic Tools (Vietnam) Co. Ltd. The company works in the field of microelectronics. It has a comprehensive capital of 650 million USD, 130 million USD of which is used to construct a component manufacturing plant for smart handheld devices in industries and daily life, along with a new Research & Development (R&D) Centre.

Two domestic production projects are Orgalife Nutrition Science Co. Ltd., which creates enzyme and related nutrition products, with the total investment capital of 700.6 billion VND (about 30.23 million USD), and Vietnam Standard Reference Material Factory, invested by Vietnam Standard Reference Material Joint Stock Co., with the total amount of 270 billion VND (11.65 million USD).

Meanwhile, the six R&D projects are for HDKING R&D Centre for High Technologies, invested by iSmartcity Joint Stock Co. with the total capital of 420 billion VND (18.12 million USD); DFM R&D Centre for Technology by DFM Tech Joint Stock Co., worth 115 billion VND (4.96 million USD); Vietnam-Japan Hi-tech R&D Centre by CNC Vietnam-Japan Investment Co. Ltd. worth 360 billion VND (15.53 million USD); the R&D Centre for Robot Manufacturing and Automation by CNC Idea R&D Centre worth 115 billion VND (4.96 million USD); the R&D Centre for Irradiation Technology by An Phu Irradiation Joint Stock Co. worth 877.68 billion VND (37.87 million USD); and the R&D Centre for Plant Cells and Medicine Material Production by Goldenlife Pharmaceutical Product Joint Stock Co. with 478.5 billion VND (20.64 million USD).

According to Le Bich Loan, head of SHTP Management Board, the approval of the nine projects has helped her organisation to achieve the goal of attracting FDI and domestic investment in 2019. Noticeably, SHTP contributes 55 percent to the total new FDI investment capital of the city.