Export processing zones (EPZs) and industrial parks (IPs) in Ho Chi Minh City attracted over 90.1 million USD worth of capital in the first quarter of 2023, increasing by 21.36% year-on-year and fulfilling 16.39% of the yearly plan.
Export processing zones and industrial parks (IP) in Ho Chi Minh City are on the process of transforming themselves towards green and ecology direction to meet the changing demands of businesses.
More than 549 million USD worth of new and additional investment was poured into export processing and industrial zones of Ho Chi Minh City in 2022, about 9.8% higher than the target, statistics showed.
Ho Chi Minh City is planning to set up a 26,000ha economic zone to the south, which is expected to house industrial parks, urban areas, and many associated services.
Vietnam's industrial parks and economic and export processing zones need to overcome weaknesses to attract further high-quality foreign direct investment, experts have said.
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).
Every year after the Tet (Lunar New Year) holiday, many businesses face a serious shortage of workers. Last year, due to the impact of social distancing orders, enterprises struggled with a shortage of labour. Therefore, the need to prepare the workforce for the post-Tet period is even more urgent.
The disruption caused by the pandemic to production in industrial parks (IPs) and export processing zones (EPZs) is leading some to suggest a radical overhaul in the way in which these areas operate in the future.
Ho Chi Minh City authorities are seeking 37.6 trillion VND (1.66 billion USD) to build affordable housing for workers over the next five years, of which State revenue will account for no more than 5 percent of the total investment, according to the Department of Construction.
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).
Ho Chi Minh City aims to take samples from five million people by July 5 for COVID-19 screening as more and more people are found to be infected thanks to screening at hospitals, according to its People’s Committee.
Ho Chi Minh City has set itself a target of meeting 65 percent of its demand for supporting industry products by 2025 by honouring and supporting business that invest in supporting industries.
Ho Chi Minh City will focus investment on major and urgent transportation projects facilitating regional connectivity, heard a working session of the municipal People’s Committee's working group on the 2021 plan of the municipal Department of Transport on March 8.
As many as 91 percent of local businesses in Hanoi had resumed operations and 94.5 percent of the labourers had returned to work after the Tet (Lunar New Year) holiday as of February 17, according to the Hanoi Federation of Labour.
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.
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.
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.
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