Work began on a startup and innovation center in Ho Chi Minh City on Thursday that will become Vietnam’s first modern center of this kind upon completion.
The center is meant to form part of a project supporting a national innovative startup ecosystem by 2025.
Estimated to cost VND323 billion (US$13.9 million) to build, the center is located at 123 Truong Dinh Street in District 3.
It will have a usable surface area of around 20,000 square meters on six floors and four basements.
The project is expected to be finished after 360 days since October 1.
It will have a lifetime of 50 to100 years and will be built on state budget funds.
Nguyen Thanh Phong, chairman of the Ho Chi Minh City People’s Committee, said that the center will be the first supporting startups for the whole city.
The innovative center would provide infrastructure services for startup and innovation activities.
Besides, it will act as a bridge to connect universities and research institutes with manufacturers and enterprises.
The chairman urged investors, project managers, and contractors to enhance efforts to complete the construction on schedule.
The project was approved by the Ho Chi Minh City People’s Council in July 2019.
In the first quarter of this year, the People’s Committee held a contest to select the design of the center.