Thursday, August 17, 2017 - 18:48:18

Economic zones draw in over 110 billion USD

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Industrial parks (IPs) and economic zones (EZs) in Vietnam had attracted more than 110 billion USD from foreign investment by the end of June.

The figure was announced at a meeting of the Steering Committee on economic zones and industrial parks development chaired by Deputy Prime Minister Hoang Trung Hai on June 24.

The country currently has 289 IPs sitting on 81,000ha and 15 coastal EZs occupying some 698,000ha, plus 28 border economic zones.

All in all, some 4,665 foreign direct investment (FDI) projects totally worth 70 billion USD were operating in IPs, while the coastal EZs had attracted some 40 billion USD and that of the border EZs, 700 million USD.

In the first six months of 2013 alone, total aggregated registered capital was reported at 7.9 billion USD, accounting for more than 80 percent of the new investment capital.

In the same period, IPs and EZs attracted more than 14.9 trillion VND (713.9 million USD) from Vietnamese investors. Also, Vietnamese entrepreneurs operating in these IPs and EZs had invested more than 900 trillion VND (42.8 billion USD) in 6,000 projects.

In the reviewed period, these IPs and EZs had earned nearly 38 billion USD in revenue, (an increase of 16 per cent year-on- year) and 23 billion USD in export turnover - contributing 45 percent to the nation's export turnover.

Meanwhile, they have contributed almost 30 trillion VND (1.4 billion USD) to the state budget - an increase of 26 percent year-on-year.

Currently, more than 2.1 million people are working in these IPs and EZs.

At the meeting, participants agreed that policies on corporate income tax and export tariffs applied to the EZs required particular attention.

Deputy PM Hai expressed high appreciation of the notable achievements recorded in the IPs and EZs over the past six months, saying these affirmed their important role in national economic development.

He, however, noted that the zones should come up with mechanisms to attract more IT projects - a catalyst for the strong development of supporting industries.

The Government leader asked each member of the Steering Committee to look closely at problems facing each project, IP and EZ to find tailored solutions.-VNA
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