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Fresh investments in HCMC’s industrial zones nearly double in 2023

The Saigon Times

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HCMC – New investments in HCMC’s industrial zones soared 84% year-on-year to US$1 billion last year, according to the HCMC Export Processing and Industrial Zones Authority (HEPZA).

The huge uptick in new investment approvals is attributed to a strategic focus on high-tech projects, both from domestic and international sources, making 2023 the first year in which fresh investments in the city surpassed the US$1 billion mark.

The per-hectare investment rate rose to US$8.1 million, up from the US$7.2 million mark recorded in the preceding year.

Key sectors such as data centers, information technology, telecommunications, and high-tech manufacturing lured substantial investments in the industrial zones.

Notable among these is Viettel Group’s digital transformation and information technology project worth US$624 million, which utilizes just around four hectares of land.

On the foreign investment front, there was a 13.4% year-on-year increase at more than US$222 million. New foreign investment approvals in the city’s industrial zones amounted to US$63.2 million, a slight decline of 13% compared to 2022. However, adjusted capital in 34 existing projects surged 28.75% to US$159.71 million, according to Tran Viet Ha, deputy head of HEPZA.

Total domestic investments in those zones were VND18.5 trillion (or US$789.35 million), skyrocketing by 123.9% versus 2022. Of this, VND16.7 trillion was pledged in new projects.

In the upcoming year, HEPZA targets attracting US$550 million in foreign investments in industrial zones, with an average investment rate of US$8.5 million per hectare.

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