On January 6, 2020, Vietnam’s Prime Minister Nguyen Xuan Phuc issued Decision No. 27/QD-TTg establishing the Danang IT Park in the rapidly developing city of Danang on Vietnam’s central coast.
The Danang IT Park will be a concentrated industrial park focusing on high-tech sectors. It is envisioned that the IT park will attract both foreign and local investors who want to take advantage of the central region’s excellent talent pool—Danang has a very good engineering university— and relatively low labor costs compared to Hanoi and Ho Chi Minh City. Investment is to be promoted in the areas of IT, electronics, and telecommunications.
According to the Prime Minister’s Decision, state budget will be allocated to help develop the infrastructure of the IT park, which will be located on 131 hectares of land in Hoa Vang District of Danang.
Vietnam’s IT sector has flourished in the northern and southern regions of the country, and with this new decision, it appears the government is hoping to boost the high-tech sector and research and development activities in the central region as well. The Prime Minister has directed that the Danang IT Park should be developed swiftly, and the Ministry of Information and Communications, Ministry of Planning and Investment, and Ministry of Finance have been tasked with roles in developing the IT park, along with local government.
For more information on the new Danang IT Park, please contact us at [email protected]