The Da Nang city People's Council has approved a proposal submitted by the municipal People's Committee for an increased total investment for the Phase 1 of the Software Park No 2 project to over VND1.4 trillion ($55.3 billion).

According to the proposal, the Software Park No 2 project is aimed at promoting domestic and foreign investment, especially in the city's information technology sector.

The Software Park No 2 will help businesses quickly access government policies, support, incubate new startups, promote, expand, and develop the information technology market.

The People's Committee proposed adding necessary items to complete the Software Park No 2, including three 20-story ICT Office buildings,  and two ICT1 and ICT 2 office buildings with 8 storeys each, with an additional cost of over VND414 billion (nearly $16.4 million), raising the total investment to over VND1.4 trillion from the city budget.

Earlier, on October 22, the Prime Minister issued Decision No 1238/QD-TTg approving the expansion of the Da Nang Software Park Information Technology Concentrated Zone, or Da Nang Software Park No 2, with a total land area of 28,573 sq.m, located in Thuan Phuoc Ward (Hai Chau District).

Once operational, Da Nang Software Park No 2 will provide approximately  6,000 jobs in information technology and digital technology sectors.