A prestigious collegiate university has approved a plan to establish a key conglomeration of start-up businesses in Ho Chi Minh City by 2020.

The Vietnam National University-Ho Chi Minh City has stated that it will transform its Information Technology Park (ITP), located on its campus in Thu Duc District, Ho Chi Minh City, into an innovative ecosystem of start-ups during the next two years.

The ITP has been known nationwide as an environment for technological entrepreneurs, especially for those in the fields of information and communication.

University officials said these areas will receive the greatest attention before extension of interest to other fields is enabled.

The ambition is pushed farther: by 2020 converting the ITP into the heart of a smart region in the making to the northeast of Ho Chi Minh City, which consists of Thu Duc District, District 2 and District 9.

The center is expected to house more than one hundred innovative start-ups, provide more than two thousand jobs, internships and work placements to thousands of students every year.

It is also intended to incentivize the university's students and teachers to launch businesses.

To achieve the goal, the university's leaders said a prime focus will be placed on the following activities: improving the opportunity to attract a highly qualified workforce, including entrepreneurs, experienced managers and experts in high tech; facilitating start-up procedures; and cooperating with other start-up hubs in Southeast Asia.

The Vietnam National University-Ho Chi Minh City is a grouping made up of leading higher education institutions in the southern region.

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