Investment in QTSC upbeat

Despite the stagnant economy, Quang Trung Software City (QTSC) remains a favorite destination of new projects. The latest commitment by HOSE gives yet another example.

Hochiminh Stock Exchange (HOSE) on May 3 started construction of a data backup center in QTSC, District 12, HCMC.

The VND300-billion project will become an information technology multi-function (IT) center when it is commissioned early next year. The center covering over 16,000 square meters consists of a nine-story block and a 325-square-meter auxiliary building.

The HOSE center will be equipped with advanced IT systems that ensure the securities market to run smoothly, creating convenience for local and foreign investors. “The HOSE data backup center is supplying IT infrastructure and services for its members during operation on the market and supporting techniques, training and other IT services for the securities market,” said Tran Dac Sinh, HOSE chairman. He added that this will be the biggest and most advanced center of its kind in Vietnam.

Tran Xuan Ha, deputy minister of Finance, said this is a multifunctional IT service center capable of storing data for HOSE, the ministry’s agencies in the south and securities companies, and offering other IT supports for the market.

Joining the event, Nguyen Thi Hong, vice chairwoman of HCMC, highly appreciated the HOSE project with advanced, safe and secure IT infrastructure. Hong said this is a prominent architectural work in Quang Trung Software City that polishes the image of a high-tech park in HCMC.

LOCAL AND FOREIGN INFRASTRUCTURE DEVELOPERS BY APRIL 2013
Project	Number
Total investors	36
Buildings into use	21
Buildings under construction	5
Buildings to be constructed in 2013	3
Villas	12
Dormitory rooms	36
Apartments	106

This new project is part of HOSE’s bigger vision to become a sustainable and strong organization with advanced infrastructure, facilities and technology, so that it can compete with other stock exchanges in the region and integrate into the international stock market in the near future.

The data backup center is one of the three projects HOSE is undertaking besides an IT project whose main partner is Korea Exchange (KRX) and House B project.

Addressing the audience at the ground-breaking ceremony, Chu Tien Dung, QTSC chairman, said “The investment project is a win-win decision as it meets the demands of the park and indicates the confidence of the Ministry of Finance and HOSE in QTSC. The project is also meaningful. Together with other projects invested by world-famous IT giants in the park, this project will help attract more local and international IT projects into QTSC.”

In addition, Long Yen Co. and Vietnam Investment Joint Stock Co. with their projects to build office buildings for software production and training, and Hong Minh Duc Co. with the project to build apartments for experts are realizing their blueprints in QTSC. The software park itself will build an office building late this year.

Dung said in the current economic turmoil, QTSC will gives priority to completing and upgrading infrastructure and services. QTSC also had incentives for those who invite new customers to the park and for those who shift their operations to the park.

By Tieu Nha - The Saigon Times Weekly