Business

Investment at HCM City IPs up 7.16 percent in 10M

Industrial parks (IPs) and export processing zones (EPZs) in HCM City attracted investment totalling 591 million USD in the first 10 months of this year, an increase of 7.16 percent year-on-year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
Investment at HCM City IPs up 7.16 percent in 10M ảnh 1Illustrative image (Photo: VNA)

HCM City (VNA) - Industrial parks (IPs) and export processing zones (EPZs) inHCM City attracted investment totalling 591 million USD in the first 10 monthsof this year, an increase of 7.16 percent year-on-year, according to the HCMCity Export Processing and Industrial Zones Authority (HEPZA).

FDI stood at 270 million USD, down 19.14 percent.

Domestic enterprises, meanwhile, invested over 7.4 trillion VND (321 millionUSD), a year-on-year increase of 47.6 percent.

The services sector attracted the most majorprojects in the period, with capital of 81.16 million USD, followed by the mechanical,electronics, plastics, and rubber industries.

Director of HEPZA Hua Quoc Hung attributed the decline in FDI to COVID-19.

Foreign investors were primarily interested in logistics and workshopinfrastructure in the first 10 months, Hung said, adding that foreign-invested enterprises(FIEs) at IPs and EPZs in the city have greatly contributed to job creation, especiallyin services, footwear, and textiles.

According to HEPZA, its export turnover reached 5.3 billion USD, with more than3.8 billion USD from FIEs, or 73 percent./.
VNA
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