|The model of the Vietnam-Japan Park in Thu Thiem new urban area|
In the first stage, the 18-story Park Gate building, to cost the Japan PowerSource Joint Stock Corporation (ViJa Corp) US$40 million, will be built.
It is expected to be completed in 2011 when it will house offices of IT and telecom companies.
The $610 million park, to have infrastructure and apartments and houses for rent when it is completed a few years later, will house software producing and processing plants, and chip design units.
At a groundbreaking ceremony Tuesday, Deputy Prime Minister Hoang Trung Hai told the investor to ensure the park is finished in time.
ViJa Corp. signed an agreement with the Quang Trung Software Park (QTSP) and the Vocational Center in District 2. The former will provide telecom infrastructure service for the park while the Japanese company will train personnel at QTSP-based companies.
It will also teach students at the Vocational Center Japanese and basic IT for free.
ViJa Park is the second such facility in the city after QTSP.