Hanoi (VNA) – The Hoa Lac High-tech Park (HHTP)’s management board has sent areport to the Ministry of Planning and Investment requesting nearly 8.3trillion VND (364 million USD) for land clearance and infrastructureconstruction.

Accordingto approved plans, total investment capital from the State budget for landclearance and infrastructure construction of the park is 15.6 trillion VND, ofwhich some 5.94 trillion VND is for residential resettlement and the rest isfor infrastructure construction.

However,by the end of 2016, only 7.33 trillion VND was disbursed for land clearance and3.03 trillion VND for residential settlement.

Ofthe remaining 8.3 trillion VND needed, 4.138 trillion VND is expected to comefrom foreign loans.

Accordingto a report of the park’s management board, by March this year, HHTP had 79investment projects being implemented with total investment capital of some 61.34trillion VND on an area of 347.5ha. The total import-export turnover of thepark in 2016 reached more than 2.4 billion USD with exports accounting fornearly 1.3 billion USD.

HHTPis located in the two districts of Thach That and Quoc Oai in suburban Hanoi,spanning a total area of 1,586ha. It is set to become a city of science,attracting investors in the field of R&D, training and incubating, andmanufacturing high-tech products in the fields of biotechnology, ICT, newmaterials and automation. To create an attractive environment in the complex,modern infrastructure is being built with capital from the State budget and ODAprovided by the Japanese government.

Thebiggest difficulty and also the longest standing problem for the park is that243ha of land has not been released for construction over the last 15 years,causing a lot of problems during infrastructure development and attractinginvestment.

Ona working visit to the park in March this year, Prime Minister Nguyen Xuan Phucurged Hanoi’s authorities to complete land clearance for the park’s developmentwithin 2017, noting that the park is not merely a technological area but also aminiature model for Vietnam’s economy in the future.

Thepark’s management board said after the PM’s direction, it worked with the HanoiPeople’s Committee on the issue, asking the committee for providing the capitalin advance, however, the committee responded that it had no capital to meet theproposal.

The park, therefore, had to ask the Ministry ofFinance and the Ministry of Planning and Investment to consider and disbursethe capital for the park as planned.-VNA