Hanoi's Vice Chairman, Truong Viet Dung, recently chaired a meeting to discuss the progress of land clearance for the $2 billion technology park project being developed by FPT Corporation. This project, which is set to be located in the Tay Tu and Phu Dien wards, is considered a key initiative for the city.

As of now, local authorities are focused on expediting compensation, support, and resettlement processes to ensure the project timeline is met. Reports indicate that significant progress has been made, although challenges remain that require intervention from various city departments.

To date, 26 compensation plans covering nearly 2.4 hectares have been approved, with a total budget exceeding 48 billion VND. Additionally, 56 more plans, valued at approximately 102 billion VND, are currently under review for approval. The local government is committed to publicizing these plans while continuing to refine documentation to accelerate the project’s progress.

Vice Chairman Dung emphasized the importance of this project, urging all involved parties to work with urgency and diligence to meet the September 30, 2026 deadline for land clearance. The technology park is expected to be developed over a period from 2026 to 2031, covering an area of nearly 197 hectares.

The project will consist of three main components, including a digital technology park focused on innovation and digital transformation, spanning approximately 169 hectares. An additional mixed-use area of nearly 14 hectares will feature high-rise buildings for residential purposes, while over 14 hectares will be designated for security and public infrastructure. The investor will allocate funding for land clearance and infrastructure development before handing over the site to the city for use by the Ministry of Public Security.

Once completed, the technology park is anticipated to accommodate around 60,000 professionals, engineers, and support staff, as well as provide housing for approximately 30,000 residents.