Construction has begun on the second Software Park in Da Nang, Vietnam, following a ceremony held on Saturday 10 October.
The project has a total investment worth over US$30.2 million (VND700 billion) with an aim to be completed in under two years.
Vice Chairman of the Da Nang municipal People’s Committee, Ho Ky Minh, said the project will play a vital part in developing the local IT industry, boosting Vietnam’s fifth-largest city’s software industry.
“This is a significant project aimed at boosting the city’s IT industry and improving the investment environment as well as creating further momentum for economic growth, startups and innovation in the city,” said Mr. Minh.
Once completed, the 28,500 square meter Software Park is expected to accommodate 6,000 employees in Vietnam.
The project forms part of the city’s effort to realise its goal of developing a smart city by 2030 and becoming a smart metropolis, a center for startups and innovation, and a livable coastal city by 2045.
The first Da Nang Software Park houses 75 IT businesses, including 25 international companies who employ more than 2,400 people, attracting over US$80 million in investment from these companies.
According to Da Nang Government reports, the IT and communications industry accounts for 700 businesses and employs 22,000 people. The industry is also expected to enjoy more growth across the next three to five years, as more companies in Vietnam and internationally adopt Industry 4.0 technologies.