Business

HCM City industrial zones attract 480 million USD

Industrial Parks (IPs) and Export Processing Zones (EPZs) in Ho Chi Minh City have attracted more than 480 million USD in investment over the past nine months, double last year’s figure for the same period.
Industrial Parks (IPs) and Export Processing Zones (EPZs) in Ho Chi MinhCity have attracted more than 480 million USD in investment over thepast nine months, double last year’s figure for the same period.

Ofthe figure, foreign investment capital contributed 341.39 million USD,an increase of 114.27 percent, said the Ho Chi Minh City ExportProcessing and Industrial Zones Authority (HEPZA).

Japan hastaken the lead among foreign investors with 31.95 million USD. It isfollowed by Singapore with 16.75 million USD; Australia with 9.8 millionUSD; and Taiwan, 3.5 million USD.

Meanwhile, domestic investment fell 15.69 percent to 138.8 million USD in the reviewed period.

Bythe end of September, the city’s IPs and EPZs had been home to 1,263valid projects capitalising at 7.49 billion USD. In total, 502 of these,worth 4.53 billion USD, are foreign invested.
Exports of IPsand EPZs were up 6.2 percent to 3.4 billion USD in the January-Septemberperiod while imports fell 10.7 percent to 2.5 billion USD.

Thecontinuing economic downturn, which led to contract deficiency, and theincreasing costs of input materials were attributed to the decline.-VNA
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