Thursday, August 17, 2017 - 22:39:16

HCM City attracts 2.5 billion USD to industrial parks

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Ho Chi Minh City has attracted a combined investment of 2.5 billion USD in industrial parks (IPs) and export processing zones (EPZs) since 2011.

As of this year, newly-registered and adjusted investment in the IPs and EPZs reached 590 million USD, a year-on-year rise of 43.3 percent. Of this, 370 million USD is foreign investment, up 78.21 percent from 2012.

Today, the city has more than 1,200 valid projects with investment totalling 7.5 billion USD.

The surge of investment, especially in IPs and EPZs, has helped improve industrial production.

In particular, mechanical manufacturing has seen an annual average growth of 6.1 percent between 2011 and now, while that of the electronic-information technology sector was 12.8 percent.

Moreover, the city has managed to attract high-tech projects, notably semiconducting and chip technologies, invested by many multinational corporations such as Intel and Nidec.

The achievements are attributed to the city’s efforts in strengthening administrative formality reform and creating incentives to stimulate its foreign investment inflow.

To attract additional investment next year, the city continues to further improve its business climate and pay attention to high and clean technology projects.

Administrative formality reform will be boosted to help ease local enterprises’ difficulties.-VNA
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