Ho Chi Minh City attracted 277.45 million USD of investment in the first quarter of 2014, shooting up over 90 percent from the year before, according to the HCM City Export Processing and Industrial Zones Authority (Hepza).

Hepza office manager Ho Xuan Lam said many of the large projects are funded by domestic investors, for example an 11.2 million USD pharmaceutical project and another producing calcium carbonate worth 4.8 million USD.

Meanwhile, some notable foreign investments include a 4 million USD plant making electronic components and a 2.3 million USD factory producing electric motorcycles.

Lam said Hepza always encourages the business circle to invest in high-tech projects and support industries that the city is prioritising.

In Q2, Hepza plans to assist the Vietnam – Japan Techno Park project, work harder to attract Japanese enterprises and accelerate the construction and expansion of the An Ha, Dong Nam and Tan Phu Trung industrial parks.-VNA