Today’s English “Investment in HCM City industrial parks, zones up 23%”

Investment in HCM City industrial parks, zones up 23%.

Investments in HCM City’s industrial parks and processing zones have risen by nearly 23 percent year-on-year so far this year to US$236.1 million.

Foreign direct investment was worth around US$125 million, double the amount that came in during the same period last year.

Companies constructing factories and warehouses accounted for nearly 69 percent of the investment, with pharmaceuticals, software, and food processing also accounting for major shares.

Hứa Quốc Hưng, head of the HCM City Export and Processing Zones Authority, said the investment was increasing because Việt Nam and HCM City had been controlling the pandemic well.

The city and his agency had been helping investors overcome problems caused by the pandemic and global economic instability, which would also attract further investment, he said.

But the land was running out in the city’s industrial parks and processing zones, while new industrial parks were launching too slowly due to land compensation and legality problems, he said.

Hưng said his agency would speed up the construction and opening of new industrial parks to offer more land to investors.

It would also work with other agencies to acquire more land for industrial zones for use in 2021 – 25, he said.

Existing zones also have problems such as lack of technical infrastructure and pollution, he added.

Refer to:
Vietnam news