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Saturday, June 22, 2024

HCMC aims for US$550 million investment in industrial zones

By Thanh Tin

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HCMC – The HCMC Export Processing and Industrial Zones Authority (HEPZA) has set a goal of attracting US$550 million in foreign investment this year.

HEPZA’s plans include the completion of the pilot conversion project for the Tan Thuan Export Processing Zone and other industrial zones like Tan Binh, Cat Lai, Hiep Phuoc, and Binh Chieu. They also plan to construct 25,000 square meters of high-rise workshops, local media reported.

Working closely with the city’s Department of Planning and Investment, HEPZA is developing proposals for investment attraction criteria in export processing and industrial zones. They are also implementing the orientation development project for HCMC’s zones for the period 2023-2030, with a vision extending to 2045.

To facilitate these initiatives, HEPZA will secure land for investment attraction through the establishment of Pham Van Hai Industrial Zones 1 and 2, as well as a pharmaceutical industrial zone. They will also address obstacles in Le Minh Xuan 2 Industrial Zone and develop high-rise workshops to optimize land utilization.

In support of local businesses, HEPZA is exploring options within the city’s interest rate policies, especially for priority sectors, and fostering connections among businesses within export processing and industrial zones to effectively address challenges.

In 2023, HEPZA exceeded expectations by attracting a total investment of US$1 billion through export processing and industrial zones, surpassing targets by 83.57%.

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