Illustrative photo (Source: VNA) HCM City (VNA) – Export processing zones and industrial parksin Ho Chi Minh City attracted about 384 million USD in investment in the firstsix months of 2017, up 39 percent year on year, including nearly 160 millionUSD of foreign investment, a rise of 24 percent.
Nguyen Tan Phuoc, Vice Director of the Ho Chi Minh City ExportProcessing and Industrial Zone Authority (HEPZA), said that the increase ininvestment was attributed to the upgrade and expansion of infrastructure systemsin local industrial parks (IPs) and export processing zones (EPZs).
Convenient transportation that is connected to seaports, airports andother localities is also a reason behind the success, along with achievementsin administrative reform that have reduced the time for processingadministrative documents by 20-50 percent, he said.
Le Hong Tuoi, head of HEPZA’s Office for Investment Support andSupervision, said that the Republic of Korea was the leading investor in localIPs and EPZs, making up 55 percent of the total investment, followed by Taiwan andJapan.
The food, supporting industry for the garment-textile sector, servicesand chemicals attracted most of the major projects in the first half of this year,he said.
Tuoi also revealed that in the rest of the year, the city will focus onspeeding up the construction of plants and encouraging firms to developinfrastructure to remove difficulties in terms of ground and business spaces.
Meanwhile, the city will work to draw more investors, thus fulfilling itsannual target of 500 million USD in investment.
So far, IPs and EPZs in the city has accommodated 1,461 valid projectsworth 9.7 billion USD, including 551 foreign-invested projects with a total capitalof 5.5 billion USD.-VNA
VNA
