At a ceremony to mark the SHTP’s 16th founding anniversary on October 24, head of the park’s management board Le Hoai Quoc said HCM City is working to build an innovation district in District 2, District 9 and Thu Duc district. Under this development direction, the SHTP will join the HCM City National University to become the core of this innovation district.

He noted that the park will move to keep up with the Fourth Industrial Revolution by capitalising on digital technology and integrating all smart technologies to optimise production processes and methods.

The SHTP now owns the technologies that can create major impact from Industry 4.0 like 3D printing technology, biotechnology, new material technology, and automation technology.

He added the SHTP has granted investment licenses to 148 projects, including 93 domestic projects worth over VND38 trillion (US$1.6 billion) and 55 FDI ones worth US$5.4 billion. Some of the major investors come from the world’s leading hi-tech firms like Intel, Sanofi, Samsung, Schneider, Datalogic and Jabil.

The park has so far raked in nearly US$45 billion in total high technology production value. This figure is expected at US$14 billion in 2018 and over US$20 billion by 2020.

The SHTP has established five laboratories and published more than 40 research articles on ISI journals and domestic magazines. It has also had four intellectual property products announced and seven products commercialised. Its business incubator has supported 25 projects to successfully commercialise their products, according to Quoc.