The Ho Chi Minh City Industrial and Export Processing Zones Management Board (HEPZA) has set a target to increase the average investment per hectare of industrial land to 15 million USD by 2025 from the current 6.32 million USD.
The HCM City People’s Committee wants changes made to a proposal to convert industrial parks and export processing zones into eco-industrial and high-tech zones by 2025.
The Ministry of Planning and Investment, in collaboration with the UN Industrial Development Organisation and the Management Board of Industrial Zones (IZs), and Export Processing Zones (EPZs), held a seminar in Ho Chi Minh City on March 29, discussing how to turn IZs and EPZs into eco-industrial parks (EIPs).
Industrial parks (IPs) in Hanoi had attracted 303 foreign direct investment projects worth nearly 6.1 billion USSD and 399 domestic projects with total registered capital of almost 18 trillion VND (788 million USD) by the beginning of December last year.
A support package worth 6.6 trillion VND (290.4 million USD) will be spent on providing housing rental subsidies for labourers who are working in industrial parks (IPs), export processing zones (EPZs) and key economic regions, according to the Ministry of Labour Invalids and Social Affairs (MoLISA).
More than 1,300 companies and factories in export processing zones (EPZs), industrial parks (IPs) and hi-tech parks (HTPs) in Ho Chi Minh City, or 92 percent of the total, have reopened so far, according to the HCM City Export Processing Zone and Industrial Park Authority (HEPZA).
Export processing and industrial zones in HCM City have attracted 236.1 million USD in investment so far this year, including new and additional capital, an increase of 22.87 percent year-on-year.
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).
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.
Ho Chi Minh City’s authorities plan to offer competitive land rents and other incentives at industrial parks (IPs) and export processing zones (EPZs), and earmark more land for building infrastructure to attract investment.
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).
Ho Chi Minh City’s Department of Planning and Architecture is preparing a plan to turn several industrial parks (IPs) and export processing zones (EPZs) into hi-tech industrial parks.
Ho Chi Minh City aims to have 1,000 MWp of rooftop solar power capacity installed by 2024 in its industrial parks, export processing zones and high-tech parks, up from 700MWp now.
With its neighbouring provinces offering competitive land rentals and other incentives at industrial parks to attract investors, Ho Chi Minh City needs to step up its game too.
Experts have recommended a number of measures to increase foreign direct investment (FDI) in HCM City’s export processing zones (EPZs) and industrial zones (IPs).
It is critical for EPZs and IZs in Ho Chi Minh City to renovate towards high-technology and green development to help enhance the southern city’s economic growth quality.
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