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).
Ho Chi Minh City will step up efforts to attract foreign direct investment by focusing on infrastructure and administrative procedures, with priority given to high-tech projects, a top city official has said.
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 authorities promise to offer competitive land rentals and other incentives at industrial parks (IPs) and export processing zones (EPZs) besides improving the business environment and simplifying administrative procedures to attract investment.
Enterprises in export processing zones (EPZs) and industrial parks (IPs) should use high technologies to better manage manufacturing processes and improve product quality.
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.
Private sector investment in social infrastructure is needed to raise the quality of life for workers in export processing zones and industrial parks, Tran Cong Khanh, chief of the secretariat of the Export Processing Zone and Industrial Park Authority.
To attract more investment, especially from overseas, Ho Chi Minh City needs to renovate and reform its export processing zones (EPZs) and industrial parks (IPs), said Tran Quang Truong, General Director of Tan Binh Industrial Park.
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.
Export processing zones and industrial parks in Ho Chi Minh City attracted about 384 million USD in investment in the first six months of 2017, up 39 percent year on year, including nearly 160 million USD of foreign investment, a rise of 24 percent.
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