Ho Chi Minh City has approved an adjustment of master plans by theHCM City EPZ Authority (HEPZA) that will make its industrial parks (IPs)and Export Processing Zones (EPZs) more attractive to investors.
Under the plan, the Phong Phu IP would be developed into a hi-techcomplex housing environmentally safe factories, while four otherindustrial complexes, Saigon Agriculture Corp (89ha), Da Phuoc (90ha);Bau Tran (95ha); and Pham Van Coi (75ha), will be turned into IPs.
In the final months of 2013, HEPZA will help companies gain access tosources of capital and to expand markets for their products, which willhelp create more jobs.
According to HEPZA figures,as of late September 3, the southern economic hub's IPs and EPZsemployed about 270,000 people.
In the first ninemonths of the year, investment flows into enterprises in Ho Chi MinhCity IPs and EPZs amounted to 480 million USD, accounting for 96 percentof the year's target and up by 48.22 percent compared with the sameperiod last year.
These investments include foreigndirect investment (FDI) of 341 million USD, with an additionalinvestment of 95 million USD into Nidec Tosok's project and a capitalexpansion of 129 million USD for the Saigon Precision project.
As of September 30, the city's IPs and EPZs contain 1,263 investmentprojects with total capital of $7.5 billion, including 502 FDI projectscapitalised at 4.526 billion USD and 761 domestically-invested projectswith total investment of 44.3 trillion VND (2.95 billion USD).
Due to the economic crisis, 99 of these 1,253 investment projects inIPs and EPZs this year have suspended operations and 24 were dissolved.
Thirty-five others, mainly those specialising intextiles and garments, construction materials, interior decor andelectrical equipment, cut back on production by 20 to 30 percent.
According to HEPZA, the biggest problem facing companies is not capital but consumption.
There has been no sign of a recovery or increase in number of ordersfor IP and EPZ enterprises in the southern hub, even though the StateBank of Vietnam's Ho Chi Minh City branch has helped 28 IP enterprisesget loans of a total of 960 billion VND at lower interest rates.
In the first nine months of 2013, these enterprises attained exportturnover of 3.4 billion USD, up by only 6.2 percent compared with thesame period last year.
A HEPZA representative saidit would enhance its efforts to attract investment into IPs and EPZs,with a focus on attracting Japanese investment into hi-techindustries.-VNA
Under the plan, the Phong Phu IP would be developed into a hi-techcomplex housing environmentally safe factories, while four otherindustrial complexes, Saigon Agriculture Corp (89ha), Da Phuoc (90ha);Bau Tran (95ha); and Pham Van Coi (75ha), will be turned into IPs.
In the final months of 2013, HEPZA will help companies gain access tosources of capital and to expand markets for their products, which willhelp create more jobs.
According to HEPZA figures,as of late September 3, the southern economic hub's IPs and EPZsemployed about 270,000 people.
In the first ninemonths of the year, investment flows into enterprises in Ho Chi MinhCity IPs and EPZs amounted to 480 million USD, accounting for 96 percentof the year's target and up by 48.22 percent compared with the sameperiod last year.
These investments include foreigndirect investment (FDI) of 341 million USD, with an additionalinvestment of 95 million USD into Nidec Tosok's project and a capitalexpansion of 129 million USD for the Saigon Precision project.
As of September 30, the city's IPs and EPZs contain 1,263 investmentprojects with total capital of $7.5 billion, including 502 FDI projectscapitalised at 4.526 billion USD and 761 domestically-invested projectswith total investment of 44.3 trillion VND (2.95 billion USD).
Due to the economic crisis, 99 of these 1,253 investment projects inIPs and EPZs this year have suspended operations and 24 were dissolved.
Thirty-five others, mainly those specialising intextiles and garments, construction materials, interior decor andelectrical equipment, cut back on production by 20 to 30 percent.
According to HEPZA, the biggest problem facing companies is not capital but consumption.
There has been no sign of a recovery or increase in number of ordersfor IP and EPZ enterprises in the southern hub, even though the StateBank of Vietnam's Ho Chi Minh City branch has helped 28 IP enterprisesget loans of a total of 960 billion VND at lower interest rates.
In the first nine months of 2013, these enterprises attained exportturnover of 3.4 billion USD, up by only 6.2 percent compared with thesame period last year.
A HEPZA representative saidit would enhance its efforts to attract investment into IPs and EPZs,with a focus on attracting Japanese investment into hi-techindustries.-VNA
