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.
A forum on the linkage and investment opportunities for small and medium enterprises (SMEs) was held in Ho Chi Minh City on December 9 as part of the US Agency for International Development (USAID) Linkages for Small and Medium Enterprises (USAID LinkSME) project.
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.
Foreign direct investment in supporting industries is expected to spike in the coming months as more and more foreign companies establish production facilities in Vietnam and seek to develop supply chains here, experts 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.
Support industries for machinery manufacturing, electronics, and deep processing are forecast to attract greater foreign investment in the years to come, according to insiders.
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 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.
Vietnam and Ho Chi Minh City in particular have remained appealing to foreign investors who are continuing to pour capital into the southern economic hub despite the COVID-19 pandemic.
Ho Chi Minh City has begun to implement a number of measures to gradually revive business activities post-social distancing necessitated by the Covid-19 pandemic.
Export processing and industrial zones in Ho Chi Minh City saw 117 million USD of investment poured into the zones in the first quarter, a 86 percent increase compared to the same period last year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
Technological advances, preferential credit policies and pricing incentives have set the stage for solar rooftop energy to become the next big thing in clean energy in Vietnam, according to industry insiders.
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.
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.
Recognising the importance of workplace safety, more and more businesses in Ho Chi Minh City have begun to invest in modern equipment and increased budgets for labour safety programmes.
Ho Chi Minh City’s Index of Industrial Production (IIP) in the first six months of the year expanded 7 percent from the same time last year, propped up by high growth of the processing sector.
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).
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