Hanoi works to attract investment in industrial parks

09:02 | 06/07/2017 Economy

Hanoi has focused efforts on improving administrative procedures and business climate as well as priority mechanisms to develop industrial parks (IPs) and attract more investments in its IPs this year.

Illustrative image - Source: VNA

The city has set the target of attracting 15-20 new projects with total capital of 250-300 million USD in local IPs in 2017, with priority given to those in the support industry, electronics, manufacturing and the production of high value added products.

To achieve the set target, the Hanoi Industrial and Export Processing Zones Authority (HIZA) is pushing forward with land clearance and infrastructure construction while urging licensed projects to accelerate capital disbursement.

According to the municipal Department of Industry and Trade, Hanoi has 19 industrial and high-tech parks with a total area of nearly 5,250 and over 3,000 hectares for 110 industrial clusters.

The municipal People’s Committee has just approved the building of four new industrial clusters, including a 63.6-ha area in Ninh Hiep (Gia Lam district) for the production of consumer goods, an 18.3-ha area in Duyen Thai (Thuong Tin district) for electric cable, steel and mechanical products, a 43.460ha area in Quat Dong 2 (Thuong Tin district) for garments, leather shoes, farm produce and high technology and a 59.32-ha area in Thanh Oai district for the development of clean industries.

The city’s Department of Industry and Trade proposed zoning off 119 industrial clusters from now to 2020.

The department also suggested exempting or reducing land use fees for enterprises investing in IP and industrial clusters along with subsidizing 100 percent of waste water treatment costs in IPs and industrial clusters.

In the first five months of 2017, Hanoi’s IPs attracted seven new projects with total registered capital of 44.8 million USD. To date, IPs in the city are housing 628 projects, comprising 330 foreign direct investment projects worth 5.34 billion USD and 298 domestic projects valued at 12.9 trillion VND (567.3 million USD).

Theo VNA