The Hoa Lac Hi-tech Park has so far granted investment licenses to 47 projects with a total registered capital of more than US$1.2 billion.
On Tuesday, Deputy Minister of Science and Technology Nguyen Van Lang, who is also head of the management board of the park, granted the licenses to FPT Corporation and four other businesses.
With a total funding of $35 million, the FPT Hoa Lac Hi-tech Park Development Company will begin to upgrade its infrastructure later this year.
The company is expected to complete modernizing its technical infrastructure up to international standards by 2015.
In addition, the FPT Software Joint Stock Company will spend some $50 million on building the Technology Village into a modern center by 2016.
The management board says that it will grant investment licenses to 12 projects, including several major businesses, by February next year.
The board is also considering 38 new projects in the Hoa Lac Hi-tech Park.
Work on the 1,600-hectare hi-tech park started in 1998. It is the first and one of the largest high-tech parks in Vietnam.
Located in the capital city of Hanoi, the park is divided into four zones: Research and Development, Hi-tech Industry, Software Park and Education and Training.
It houses universities and many plants that produce high-tech equipment like electronic and semi-conducting products, telecommunication, digital technology, and bio-technology.
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