The HaBiotech Hanoi High-Tech Biological Park project received its initial investment certificate in 2008, with Pacific Land Limited – Ireland as the investor.
The project is located in Tay Tuu, Lien Mac, Minh Khai, Thuy Phuong, and Co Nhue 2 wards in Bac Tu Liem district, spanning approximately 2.8 km2, which is half the size of Hoan Kiem district (5.29 km2).
The total investment for the project exceeds one billion USD (approximately over 24 trillion VND). Of this, 250 million USD is allocated for technical infrastructure, service facilities, apartment buildings, and dormitories; while 800 million USD is dedicated to investing in laboratories, centers, research institutes, and universities. Pictured here is an artistic rendering of the HaBiotech Hanoi project.
The project is expected to serve approximately 1,000 people for relocation and provide jobs for 34,000-36,000 individuals.
The project aims to establish HaBiotech as a world-leading biological high-tech park, catering to prominent biotechnology companies and fostering the development of cutting-edge techniques. This will contribute to Vietnam’s aspiration to become a leader in biotechnology among its neighboring countries.
Notably, once operational, this massive project is expected to attract secondary investments worth billions of USD. Simultaneously, it will provide a significant boost to foreign investment (FDI) in the capital, focusing on knowledge-intensive industries.
Despite being hailed as the “grand project of all projects,” none of the components of the HaBiotech high-tech biological park have been implemented to date.
Most of the project area is still utilized by locals for cultivating vegetables and flowers.
Numerous temporary structures have been erected around the vegetable fields to store farming tools and provide resting places for farmers.
The project has not commenced due to several challenges, primarily stemming from changes in legislation, adjustments to the city’s master plan, and difficulties in land clearance.
Sixteen years after receiving its initial investment certificate in 2008, the surrounding infrastructure, such as Van Tien Dung Street, the Tay Thang Long axis, the Avenue Garden urban area, and the Bac Tu Liem inter-agency area, have been largely established and are operational. In contrast, the HaBiotech Hanoi High-Tech Biological Park project remains on paper.
Dragon Capital Chairman: “Long-term vision is needed, accepting necessary adjustments for a safer, more efficient, and higher quality market”
According to Mr. Dominic Scriven, Chairman of Dragon Capital, the role of the finance industry in the stock market will be significant in 2023 and possibly in 2024. The roles of other industries, such as real estate or consumer goods, will depend on their respective challenges.
Vietnam’s economy predicted to have a rapid boost in the early months, as various indicators skyrocket.
These statistics indicate that Vietnam’s economic prospects in 2024 are quite positive.
Tighter Alcohol Testing Leads to Decreased Food and Beverage Revenue
According to the Ho Chi Minh City Statistics Office, the food and beverage revenue in January is estimated to reach 9,116 billion VND, a decrease of 1.3% compared to the previous month.
Special offers and incentives for investing in the high-tech zone
A wide range of preferential policies and investment support in high-tech zones are stipulated in Decree No. 10/2024/NĐ-CP by the Government.
