Business

HCM City’s EPZs, IPs attract over 747.6 million USD in 2020

Over 747.6 million USD were poured into export processing zones (EPZs) and industrial parks (IPs) in Ho Chi Minh City in 2020, representing a year-on-year increase of 15.79 percent, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
HCM City’s EPZs, IPs attract over 747.6 million USD in 2020 ảnh 1Japanese enterprises invest in Tan Thuan export processing zone in Ho Chi Minh City (Photo: VNA)

HCM City (VNA) – Over 747.6 million USDwere poured into export processing zones(EPZs) and industrial parks (IPs) in Ho Chi Minh City in 2020, representing ayear-on-year increase of 15.79 percent, according to the HCM City ExportProcessing and Industrial Zones Authority (HEPZA).

Of the total, domestic enterprises invested over 8.9 trillion VND (nearly 385million USD), a year-on-year increase of 53.94 percent.

Meanwhile, foreign direct investment (FDI) reached over 363 million USD, down 8.3percent from the same period last year due to travel restrictions to preventthe spread of the COVID-19 pandemic, and the global economic downturn.

Thirty existing FDI projects registered additional capital of over 182.2million USD, a 21.54 percent reduction, while there were 16 new projects withtotal capital of 180.8 million USD, a 10.5-percent increase from last year.

Export processing and industrial zones in the city mainly lured foreign investorsfrom the Netherlands, Singapore, Taiwan (China), Japan, the US, Thailand, HongKong (China) and the Republic of Korea.

Four key industries of the city lured 39 out of 81 newly-licensed projects totaling189.77 million USD, accounting for 39 percent of the total investment from newprojects, including 8 FDI projects and 31 domestically-invested projects.

Supporting industries attracted nine FDI projects and 27 domestic ones with totalinvestment capital of 167.2 million USD, making up 34 percent of total new investmentattraction.

Local and foreign investors were primarily interested in logistics and workshopinfrastructure, HEPZA said, adding that despite influences by the COVID-19pandemic, investors have still rented land, built warehouse and workshop infrastructureto prepare for investors in the coming years, particularly after the pandemicis put under control./.

VNA
#EPZs #Ho Chi Minh City #HEPZA #industrial parks #investment #FDI #COVID-19 pandemic #foreign investor #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

FDI forecast to flow into supporting industries

FDI forecast to flow into supporting industries

Foreign direct investment in supporting industries is expected to spike in the coming months as more and more foreign companies establish production facilities in Vietnam and seek to develop supply chains here, experts said.
HCM City’s IZs, EPZs urged to promote digital transformation

HCM City’s IZs, EPZs urged to promote digital transformation

Digital transformation will help enterprises in HCM City’s industrial zones (IZs) and export processing zones (EPZs) improve their competitive advantage in global economic integration by increasing productivity and improving operational efficiency, experts have said.

See more

Kim Long Motor Hue JSC and Changan Automobile Group sign a cooperation agreement on building a factory. (Photo: VNA)

New passenger car factory to be built in Hue

Kim Long Motor Hue Joint Stock Company and Changan Automobile Group (China) on January 14 signed a cooperation agreement to build a passenger car factory at an industrial park in the central city of Hue that will be capable of producing 50,000 vehicles per year.

Illustrative photo (Photo: VNA)

Quang Ninh sets land clearance as priority for FDI attraction

The northern province of Quang Ninh is on a mission to cement its status as one of Vietnam's premier destinations for foreign direct investment (FDI), with a strategic focus on land clearance for industrial park infrastructure projects this year.

Deputy Prime Minister Tran Hong Ha at the 12th meeting of the national steering committee for IUU fishing prevention and control on January 14 (Photo: VNA)

Deputy PM orders enhanced fishery management tools

Deputy Prime Minister Tran Hong Ha has asked the Ministry of Agriculture and Rural Development to complete the comprehensive integration and smooth connectivity to the national fisheries database (VN-Fishbase), vessel monitoring system (VMS), and electronic traceability system (eCDT) in Q1, ensuring seamless data flow from central to local authorities, a move to clamp down on illegal, unreported and unregulated (IUU) fishing.

A view of the Van Phong economic zone in Khanh Hoa province. (Photo: VNA)

Huge room for Khanh Hoa to expand cooperation with Chinese firms: official

With its strategic importance in the central key economic region, well-developed and interconnected infrastructure, coupled with ample potential for tourism development, Khanh Hoa province is an ideal location for Chinese businesses to seek opportunities for cooperation and investment, Vice Minister of Foreign Affairs Pham Thanh Binh has said.

Products showcased at the Investment & Trade Promotion Centre of Ho Chi Minh City. (Photo: nhandan.vn)

Businesses must embrace new trends to boost exports to US: experts

Trade cooperation between Vietnam and the US presents both vast opportunities and significant challenges, as the latter enters a new phase with major adjustments to its economic and foreign policies, which are expected to have a wide-reaching impact on global trade and investment activities.

Vietnamese Ambassador to the UK Do Minh Hung (centre), embassy staff and VBUK members (Photo: VNA)

Vietnamese Business Association in UK sets 2025 agenda

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.