Investment in HCM City’s industrial parks up 23 percent
Investment in Ho Chi Minh City’s industrial parks and processing zones have risen by nearly 23 percent year-on-year so far this year to 236.1 million USD.
Hiep Phuoc Industrial Park in Nha Be district. Industrial parks and processing zones in HCM City are attracting more and more investments despite COVID-19. (Photo: baodautu.vn)
HCM City (VNS/VNA) - Investment in Ho Chi Minh City’s industrial parks andprocessing zones have risen by nearly 23 percent year-on-year so far this yearto 236.1 million USD.
Foreigndirect investment was worth around 125 million US, double the amount that camein during the same period last year.
Companiesconstructing factories and warehouses accounted for nearly 69 percentof the investment, with pharmaceuticals, software and food processing alsoaccounting for major shares.
Hua Quoc Hung,head of the HCM City Export and Processing Zones Authority (HEPZA), saidinvestment was increasing because Vietnam and HCM City had been controlling thepandemic well.
The city andhis agency had been helping investors overcome problems caused by the pandemicand global economic instability, which would also attract further investment,he said.
But landwas running out in the city’s industrial parks and processing zones, whilenew industrial parks were launching too slowly due to land compensation andlegality problems, he said.
Hung saidhis agency would speed up the construction and opening of new industrialparks to offer more land to investors.
It wouldalso work with other agencies to acquire more land for industrialzones for use in 2021 – 2025, he said.
Existingzones also have problems such as lack of technical infrastructure andpollution, he added./.
Representatives from foreign-invested (FDI) enterprises in Ho Chi Minh City contributed their ideas and recommendations to spur growth in the city at a meeting with municipal leaders on March 23.
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Hiep Phuoc Industrial Park in Nha Be district. Industrial parks and processing zones in HCM City are attracting more and more investments despite COVID-19. (Photo: baodautu.vn) 
