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./.

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