It said it would revise the master plan for until 2025 already approved by the government, using 195 hectares (482 acres) meant for a historical tourism project for the park.

It will be a place for training, experiencing, improving and transferring technologies with close connection to the existing Saigon Hi-Tech Park in District 9, a park for high technology enterprises including Japanese electric motors manufacturer Nidec, U.S. semiconductor chip manufacturer Intel and French industrial gas supplier Air Liquide.

The park will also serve as a place for tech companies to launch and test their latest innovations.

The city expects the park to play a crucial role in turning three of its eastern districts, 2, 9 and Thu Duc, into "innovative urban areas" as envisaged in a "Silicon Valley" plan it announced in April last year.