Saigon Bund Capital Partners, a venture capital firm, has teamed up with Ascendas, Singapore’s leading business park developer, to build a $130 million (S$164.6 million) park in Ho Chi Minh City.
Yesterday, the two partners received their investment certificate at a ceremony witnessed by Emeritus Senior Minister Goh Chok Tong.
Mr Goh, who is on a four-day visit to Vietnam, told top city officials he met that Singapore’s significant property investment in Ho Chi Minh City signals its confidence in Vietnam’s future.
This latest business park, to be called OneHub Saigon, will be ready in seven years’ time.
Mr William Tay, Ascendas’ South-east Asia chief executive, said it is eyeing high-tech manufacturers and companies in information technology, media and outsourcing to occupy the park.
“Vietnam is moving towards a knowledge-based industry, and we want to capitalise on that growth,” he added, noting that Vietnam is aggressively promoting a “technology corridor” of science and research-based companies, much like Singapore’s corridor comprising the Science Park, National University of Singapore and the Nanyang Technological University.
The new business centre is Ascendas’ second in Vietnam. The first is a 500ha park in northern Binh Duong province, built for manufacturers.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Saigon Bund Capital Partners, Ascendas, Singapore, Emeritus, Goh Chok Tong, Vietnam, Mr William Tay, Science Park, National University of Singapore, Nanyang Technological University, Binh Duong.