Nhan Dan - Construction of the Thu Thiem Software Park, the biggest centralised software park in Vietnam and the South-east Asian region, was kicked off on June 19 by Teco-Saigon Tel, a joint venture firm between the Saigon Telecommunication and Technologies Corporation (Saigon Tel) and TA Associates International Pte.Ltd from Singapore, a member of the Teco Group from Taiwan.

Total investment for the project, licensed by Ho Chi Minh City People's Committee in June 2008, is put at US$1.2 billion, of which Saigon Tel contributes 20% stake.

The park covers 16 hectares in the centre of the Thu Thiem new urban centre in district 2, Ho Chi Minh City. Total ground floor area is estimated at 650,000 square

metres, of which office area accounts for 75% (equivalent to 487.500m2); commercial and retail area 15% (equivalent to 97.500m2); and residential area 10% (equivalent to 65.000m2), with space available for rents to IT experts, skilled labors working in the software production and processing for export, microchip design...

The project also has a training center to develop the human resources and provide skilled workforce to tenants, as well as carries out activities to promote trade and investment in to Thu Thiem new urban area.

The park is scheduled to be put into operation in 2113 and attract US$3 billion worth of foreign direct investment with total revenues of US$6.5 billion a year.

The project is expected to create jobs for 40,000 workers and 70,000 software and IT engineers.

By Duc Cung