A local higher education institution was granted Wednesday a license to build a VND500 billion ($24 million) high-tech institute 15 kilometers from downtown Ho Chi Minh City.
The Ho Chi Minh City University of Technology (HUTECH) will use its own funds to construct the institute on a 42,600 square meter land plot in the Saigon Hi-Tech Park, an area for high technology enterprises located in District 9.
Over 120,000 square meters of gross floor area will be put into use after five years of construction.
The facility will focus on hi-tech research and applications in IT, biotechnology, automation technology, and renewable and new energy technologies.
It will also work with domestic and international partners on technology transfers in these fields.
Founded in 1995, HUTECH is a private university that offers both undergraduate and graduate programs.
It is running business administration, human resource, accounting, marketing, finance, and banking courses with U.S.-based Lincoln University, Canada’s Marie Victorin College, and Open University Malaysia.
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