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Around US$384 million injected into industrial parks in HCMC

Hung Le
Monday,  Jul 17,2017,23:35 (GMT+7)
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Around US$384 million injected into industrial parks in HCMC

Hung Le

Hepza’s deputy director Nguyen Tan Phuoc (standing) speaks at the press conference on Friday - PHOTO: HUNG LE

HCMC – Export processing zones (EPZs) and industrial parks (IPs) in HCMC attracted around US$384 million in investment in the first half of this year, indicating the continued flow of investment into the city’s manufacturing sector, heard a press conference last Friday.

Nguyen Thanh Binh, deputy administration manager of the HCMC Export Processing and Industrial Zones Authority (Hepza), said the amount of US$384 million has met around 77% of the agency’s target of attracting US$500 million in investment this year.

Domestic and foreign investments saw respective increases of over 24% and 52% to around US$160 million and over US$224 million.

The majority of projects belonged to food, garment-textile, services, and mechanical engineering sectors, as well as supporting industries.

Notably, CJ Cau Tre Food JSC, formerly known as Cau Tre Export Processing JSC, has been developing a 7.1-hectare complex worth around VND1.2 trillion (US$52.8 million) at the Hiep Phuoc Industrial Zone in Nha Be District to process meat and seafood. The facility is expected to be operational next July, with its designed capacity in phase one at around 12,000 tons of products a year.

Binh said the land area available for rent totaled nearly 68 hectares in January-June, 1.74 times higher than the same period last year, while workshops available were measured nearly 60,000 square meters, up 2.5 times year-on-year.

So far, local EPZs and IPs have accommodated more than 1,460 valid projects with registered capital of US$9.7 billion. Their total export turnover is estimated at over US$2.7 billion in the six-month-period, a year-on-year rise of 27.24%.

Hepza has coordinated with the HCMC Transport Department and investors to upgrade infrastructure systems inside and outside the area in a bid to create favorable conditions for enterprises to transport their goods, thereby reducing logistics costs, according to Hepza’s deputy director Nguyen Tan Phuoc.

Phuoc said Hepza has also teamed up with the municipal departments of taxation and finance to remove administrative barriers relating to land lease payment procedures. In addition, they have created sound conditions for secondary enterprises to prop up their investments.

Hepza has also cooperated with district-level governments to speed up site clearance at both existing and new IPs like the 668-hectare Pham Van Hai IP in order to develop new facilities.

In regard to small and medium enterprises, Hepza and the Hiep Phuoc IP have offered 15 plots of land ranging from 750 to 3,000 square meters, and 350-square-meter workshops for lease at reasonable prices.

Especially, Hepza is working with relevant agencies to continue developing high-rise buildings to supply workshops for the 2016-2020 period at the Dong Nam, Linh Trung and Tan Thuan IPs.

The city government has asked Hepza to improve services, reform administrative procedures, and increase well-qualified manpower so as to enhance the city’s competitiveness.

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