HCM City is targeting to lure 700 million USD of investment into its industrial zones and export processing zones in 2015, said the management board of the city’s Export Processing and Industrial Zone Authority (Hepza).

According to the Head of Hepza Investment Management Office Tran Viet Ha, the zones attracted a total of 752 million USD of investment in 2014, up 23 percent compared to 2013.

Vietnam will see a new investment wave in the time ahead, he predicted, citing forecast that the global garment and textile market will expand by 3.5 percent this year and the expected conclusion of the Trans-Pacific Partnership Agreement (TTP).

The official noted that several foreign investors have poured money into major garment and textile projects in anticipation of the TPP, such as the 300 million USD plant of Worldon Vietnam.

Hepza plans to start work on the construction of high-storey workshops in four industrial zones namely Dong Nam, Hiep Phuoc, Linh Trung, Tan Thuan to accommodate more investors.

Last year, domestic investment capital in the city’s IZs and EPZs experienced a surge of 65 percent against 2013, focusing on high-tech and environmentally-friendly industries such as electronics, manufacturing mechanical engineering, fashion design, and high quality food processing.-VNA