The Ministry of Science and Technology’s Hoa Lac Hi-Tech Park is to operate under the management of the Hanoi People’s Committee under a government resolution issued on August 1.

The government requested that the ministry hand over all finance, tasks, public assets, and public investment projects from the Hoa Lac Hi-Tech Park Management Board and affiliated units to the municipal People’s Committee.

The handover must be completed within six months.

Covering some 380 ha, the hi-tech park is home to 106 projects, including 60 active projects, with total registered investment of VND85.6 trillion ($3.6 billion) and $702 million. The projects have helped create some 14,500 jobs.

Revenue from enterprises based at the hi-tech park reached about VND18 trillion ($759 million) last year, with VND1.2 trillion ($50.6 million) contributed to the State budget.

It is expected that, under Hanoi’s management, more investment will be poured into facilitating public transport to the Hoa Lac Hi-Tech Park and developing the surrounding area into a scientific-technological, cultural, and educational urban complex.