HCM City publishes investment handbook to assist businesses
An investment handbook in different languages is being compiled by the HCM City Export Processing and Industrial Zone Authority to provide firms with necessary information on investment procedures.
Workers at a toy factory (Photo: VNA)HCM City (VNA) – An investment handbook in different languages is being compiled by the Ho Chi Minh City Export Processing and Industrial Zone Authority (Hepza) to provide businesses with necessary information on local investment procedures.
The handbook publication is among important measures to promote investment into export processing and industrial zones in the city, Tran Viet Ha, head of Hepza’s investment management division, said on October 11.
He noted Hepza will continue asking the municipal People’s Committee and relevant ministries to expeditiously tackle investment-related problems, especially regulations on land lease which is a major cause of a slump in investment into local export processing and industrial zones compared to 2015.
It will also enhance assistance for enterprises to access capital and update production technologies, maintain the single-window mechanism for investment projects, and cut down 30 percent of the administrative procedure handling time.
Hepza is urging new industrial parks to build infrastructure to ensure land supplies for companies to rent, Ha noted.
By September 30, 354.77 million USD of new and additional investment was poured into export processing and industrial zones in HCM City, representing 50.68 percent of this year’s plan and a decline of almost 54 percent from a year earlier.
About 167 million USD of the sum was foreign investments, down 67.4 percent, while domestic investments decreased by 27 percent to 187 million USD, according to Hepza office manager Tran Cong Khanh.
Experiencing the same trend, only 50 hectares of land were leased during the period, dropping by 58 percent. The area of rented facilities approximated 40,000 square metres, down 25.5 percent from the same period in 2015.
Khanh attributed that tumble to problems emerging in the enforcement of the 2013 Law on Land, and the sluggish guidance for the implementation of the 2014 laws on investment and enterprises. Meanwhile, many investors also wants to wait for the parliaments of the member countries of the Trans-Pacific Partnership (TPP) agreement to ratify this deal.-VNA
You should also see
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
See more
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
Videos
Agro-forestry-fisheries products nearly double in Q1
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at over 13.5 billion USD, up nearly 22% over the same period last year, according to the Ministry of Agriculture and Rural Development.
