HCM City to transform industrial parks with hi-tech industries

15:53 | 31/08/2015 Science - Technology

HCM City, Vietnam’s southern economic hub, is making efforts to transform its processing and industrial zones from traditional labour-intensive structure to high-tech key industries.

HCM City to transform industrial parks with hi-tech industries

Workers are packaging products at a factory at the Linh Trung export processing zone in Thu Duc district. (Source: VNA)

After 24 years of developing export processing industrial zones, the city has made considerable achievements.

According to Pham Xuan Trung, Chairman of the Board of Directors of Tan Thuan Limited Company – a joint venture between the Tan Thuan Industrial Promotion Company Limited (IPC) and Central Trading and Development (CT&D), of Taiwan (Chinese), as of June, 2015, the Tan Thuan export processing zone had attracted 184 enterprises from 19 countries and territories with 1.5 billion USD in investment capital and generated an export value of 3.9 billion USD.

Besides pioneering the Tan Thuan Export Processing Zone, the city now has 11 other export processing and industrial parks with a combined occupancy rate of 91 percent, making impressive contributions to the city’s gross domestic product.

Tan Thuan, Linh Trung and Linh Xuan zones account for the largest proportion of both investment capital and export value, which reached 22.34 billion USD in 2014.

According to overall plan approved by the Prime Minister, HCM City will have 24 processing and industrial zones with a combined area of 6,100 hectares and focus on drawing projects in the high-tech sector, especially in mechanics, electric-electronics and chemicals.

The Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) is also finalising a project to build support industrial zones within the Hiep Phuoc Industrial Park in Nha Be district and the Le Minh Xuan 3 Industrial Park in Binh Chanh district.

Besides that, Hepza is developing a pilot model of high-rise workshops for 2015-2020 at the Dong Nam, Hiep Phuoc, Linh Trung and Tan Thuan export processing and industrial zones to attract small- and medium- enterprises that use advanced technology and modern equipment./.

Source: VNA

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