Ho Chi Minh City: US$224.61 million committed to industrial parks in Q1

Wednesday, 2021-03-31 17:29:41
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Workers at the Misumi Vietnam Company in Linh Trung Export Processing Zone in Ho Chi Minh City. (Photo: VNA)
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NDO – In the first three months of 2021, total investment capital, including newly licensed and adjusted industrial parks in Ho Chi Minh City reached US$224.61, 40.84% of the plan, up 66.34% compared to 2020.

According to Ly Quoc Hung, Head of the Ho Chi Minh CityExport Processing and Industrial Zones Authority (HEPZA), US$119.21 million of the total was foreign investment, up 80.67% year-on-year. The remaining US$105.4 million was from domestic enterprises, up 52.66%.

He said a majority of domestic and foreign enterprises have adopted modern technology to improve management and production towards boosting workplace productivity and product quality to meet the stringent demands of customers.

As the city's 2021 goal is to build on urban administration and improve the business climate, the HEPZA has come up with a plan to improve State management efficiency and step up administrative reform.

The board will conduct a dialogue in the second quarter between municipal authorities and enterprises in HEPZA to tackledifficulties and boost production and trade.

It also plans to hold a dialogue between departments, sectors, and businesses regarding investment, taxation, and customs, as well as a conference to link banks and enterprises.

Investment will focus on four key industries with high technological content and fewer workers supporting other industries, and services in support of industrial production.

It will also work with the relevant agencies to prevent and control COVID-19 and popularise the Labour Code 2019 and guiding decrees.