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Friday, February 3, 2023

Half a billion dollars committed to HCMC’s industrial zones in 2022

The Saigon Times

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HCMC – HCMC’s export processing and industrial zones attracted new investments totaling nearly US$550 million last year, over 9% higher than expected, according to the HCMC Export Processing Zone and Industrial Park Authority (HEPZA).

New foreign investment approvals amounted to US$196.6 million while domestic investments reached over US$352.4 million, or over VND8.1 trillion.

This positive result came after the city reopened to international travelers in mid-March 2022 and created favorable conditions for investors to visit industrial and processing zone projects in Vietnam, according to Hua Quoc Hung, head of HEPZA.

However, many operational industrial parks have filled the allotted land areas or found it difficult to determine land rents, hindering HCMC’s ability to attract investment.

Therefore, multi-story factories will be developed to solve the problem of limited land funds in the future.

The city will focus on expanding land funds to attract more investment and support enterprises to stabilize their production and protect the environment.

Moreover, HEPZA will help promote investment in high-tech sectors and the digital economy, especially automation in the mechanical industry and artificial intelligence applications in the information technology industry.

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