US$31 million poured into Vietnam-Japan techno park project (VOV) - Construction work began on an innovative Vietnam-Japan technology park in Ho Chi Minh City on February 17 with a total investment of US$31 million. Vie-Pan Techno Park covers an area of 13 hectares in Hiep Phuoc Industrial Park and is expected to open in October. The project is divided into two phases. Phase one capitalized at US$ 7.6 million covers three hectares and accounts for 55% of Vie-Pan Industrial Park, the remaining ten hectares makes up phase two from the Hiep Phuoc Industrial Park Joint Stock Company TheTechno Park aims to attract more investment from Japanese support industry firms. It will provide an all inclusive service, creating favourable conditions for Japanese investors in the city. At the ground-breaking ceremony, Japanese Deputy Consul General in Ho Chi Minh City Yoshinori Yakabe said the project is listed in Japan’s national strategy to support small and medium-sized companies. He confirmed there will be 690 Japanese firms investing in the country’s southern economic hub in 2014, 70 more than last year. Municipal People’s Committee Vice Chairman Le Manh Ha announced this is the first model to be applied in Ho Chi Minh City to entice Japanese businesses, noting that it will be expanded to other industrial and technology parks across the city. VOV