HOSE builds data backup center

The Hochiminh Stock Exchange (HOSE) commenced work on a data backup center in Quang Trung Software City in HCMC's District 12 last Friday.

An artist’s impression of HOSE data backup center in Quang Trung Software City in District 12
Photo: Uyen Vien

HOSE chairman Tran Dac Sinh said that the center, which will cover an area of over 16,000 square meters with nine stories, one mezzanine and a supporting block on 325 square meters, will be an information technology (IT) service center and archive of HOSE, southern units of the Ministry of Finance and securities companies.

This facility will be the largest and most advanced data backup center in Vietnam, helping the stock market operate in a stable manner, building domestic and foreign investors’ confidence and making HOSE a modern stock exchange in the region and the world, Sinh added.

The project requires total investment of VND300 billion and is expected for completion in the first quarter of next year.

The center is one of three large projects HOSE is deploying, the others being an IT project conducted by contractor Korea Stock Exchange and a housing project.

By Uyen Vien - The Saigon Times Daily