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Construction work began on an innovative Vietnam-Japan technology park in Vietnam's southern economic hub Ho Chi Minh (HCM) City on Monday, which will cost a total investment of 31 million U.S. dollars.
Vie-Pan Techno Park covers an area of 13 hectares in the city's Hiep Phuoc Industrial Park and is expected to open in October.
The Techno Park aims to attract more investment from Japanese support industry firms, and provide an all-inclusive service and create favorable conditions for Japanese investors in the city.
The project is listed in Japan's national strategy to support small and medium-sized companies, said Japanese Deputy Consul General in HCM City Yoshinori Yakabe at the ground-breaking ceremony on Monday.
He confirmed that there will be 690 Japanese firms investing in the country's southern economic hub in 2014, 70 more than the number last year.
According to HCM City People's Committee Vice Chairman Le Manh Ha, this is the first model to be applied in the city to attract Japanese businesses, which will be expanded to other industrial and technology parks across the City.
