Quang Trung Software City in HCMC to Become Major IT Park - Vietnam Briefing News
Apr. 9 – Quang Trung Software City (QTSC) located in Ho Chi Minh City will soon be developed into a major information technology park.
The software park has been in operation for nine years with a total area of 430,000 square meters designated for software production, research, training, development and distribution. Chu Tien Dung, general director of QTSC said the company would make use of their experience acquired over the years to map out a long-term development strategy.
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“Our three main goals are to attract the biggest enterprises and nurture small ones to turn the park into Vietnam’s biggest software producer; supply high-quality human resources to help the sector take off; and create a favorable business environment to help firms thrive,” Dung told The Saigon Times during an event held at the White Palace Convention Center in the city on March 30.
The software park will work towards attracting more local and foreign companies to invest. It has already signed strategic cooperation agreements with news media organizations Saigon Times Group, Vietnam Investment Review and Sai Gon Giai Phong.
QTSC has become a well-known software park brand in the country. “As for future development plans, I think, it’s necessary to build a chain of Quang Trung Software Cities in other cities and provinces or even in foreign countries to further promote the QTSC brand,” Le Manh Ha, director of the HCMC Department of Information and Communications, told The Saigon Times. “When the QTSC brand is well developed, it will certainly attract multinationals whose satellite companies can follow suit by setting up shop at QTSC.”
When it was established in 2001, QTSC was backed by government funding worth VND210 billion and attracted about 20 companies. Now more than 100 companies are in the park with 57 percent of them being foreign invested companies. Last year, the park reported total revenues amounting to US$100 million.