Da Nang opens its Silicon Valley

Speaking at the inauguration ceremony, Deputy Prime Minister Vu Duc Dam highly appreciated great efforts of Da Nang authorities and investors of Da Nang IT park for accelerating the project's progress to put the first phase into operation.

He stressed: "The Vietnamese Government always advocates the provinces and cities, where the focus of high quality human resources and major traffic hubs was attached importance, contributing to the development of software industrial parks and hi-tech parks".

Additionally, he also instructed ministries, especially the Ministry of Science and Technology and the Ministry of Infỏmation and Communication  to cooperate with Da Nang authorities in developing IT industry, creating a leading ship for the whole country in this field.

As reported, the Danang IT park covers an area of 340 hectares in Hoa Lien Commune, Hoa Vang District. The total investment in this project is estimated at VND2.74 trillion ($118.3 million), with first phase, covering 130 hectares, costing over VND1 trillion ($43.1 million).

According to the project investor, Da Nang IT Park Development JSC, the park is oriented to become one of the most developed IT communities in Asia, helping the coastal city lure more foreign investors.

The project currently has basic infrastructure built, including office buildings, green spaces, roads, natural landscapes, and areas for outdoor activities. Eventually, DITP targets revenues of $1.5 billion each year and jobs for more than 25,000 people.

So far, some big names in the global IT industry like IBM, Cisco, Intel, KDDI, Mitsui and several smaller IT companies from  Japan, the US and Singapore have expressed interest in the park.

Da Nang is the urban center of central Vietnam and is often considered the country's third most important city, after Hanoi and Saigon.The city licensed 135 foreign direct investment projects worth almost $286 million.