HCMC improves EPZ and IZ attraction

14:52 | 25/02/2016 Investment

(VEN) - Ho Chi Minh City (HCMC) will focus on improving investment attraction in industrial zones (IZs) and export processing zones (EPZs) in electronics, engineering, chemicals and food processing, especially in support industries.

HCMC improves EPZ and IZ attraction

EPZs and IZs will accelerate the completion of technical infrastructure to attract more investment capital

According to the Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza), EPZs and IZs in the city attracted total capital of US$840.7 million in 2015, reaching 120.1 percent compared to the yearly plan, including US$287.59 million and US$553.12 million from domestic and foreign investment, respectively.

EPZs and IZs in the city currently have 1,387 valid projects with total registered capital of US$9.043 billion, including 828 projects with US$3.65 billion and 559 projects with US$5.4 billion from domestic and foreign investment, respectively. Accumulated land leased in EPZs and IZs stood at around 1,525 hectares, representing a 55 percent occupancy rate.

EPZs and IZs also totaled export turnover of US$5.8 billion in 2015, including around US$4.1 billion from EPZs and US$1.7 billion from IZs.

Head of Investment Management Division under Hepza Tran Viet Ha said that EPZs and IZs would strive to attract investment capital of US$700 million and reach export turnover of US$6.2 billion in 2016 and all of them would have concentrated wastewater treatment systems. In addition, completing technical infrastructure and finalizing overall planning in EPZs and IZs such as Tan Phu Trung, Hiep Phuoc, Dong Nam, Le Minh Xuan 3, Tan Tao and Vinh Loc are needed.

Ho Chi Minh City will prioritize investment attraction in high-tech projects, support industries and four key industries including engineering, electronics, chemicals and food processing.

According to the investment promotion program approved by the Ho Chi Minh City People’s Committee, investment attraction will focus on four key industries and nine services from key markets including the US, Canada, New Zealand, the Republic of Korea, Japan and Australia.

To create favorable conditions for businesses and investors, Ho Chi Minh City will promote reforms in all sectors such as reviewing and simplifying administrative procedures, shortening the time for tax payments and accelerating customs clearance. In addition, strengthening the application of information technology in the implementation of administrative reforms in order to facilitate business and investment environment is needed. Ho Chi Minh City currently has more than 2,000 kinds of online public service that are highly appreciated by local people.

 

Ngoc Thao

Theo ven.vn