Over US$480 million invested in HCM City IPs, EPZs,
(VOV) - Ho Chi Minh City’s Industrial Parks (IPs) and Export Processing Zones (EPZs) have attracted more than US$480 million worth of investment over the past nine months, up nearly 50% compared to the same period last year.
The Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) reported foreign direct investment (FDI) capital contributed US$341.9 million, an increase of 114.7%.
Japan’s US$31.95 million in capital placed it first among foreign investors, followed by Singapore (US$16.75 million), Australia (US$9.8 million), and Taiwan (US$3.5 million).
Meanwhile, Domestic business investment fell 15.69% to US$138.8 million. Industries including food (US$37 million), engineering (US$21.521 million), electronics (US$10.164 million), and software (US$8.4 million) contributed the majority of the total.
IPs and EPSz were home to 1,263 valid projects worth US$7.49 billion by the end of September, 502 of which—or US$4.526 billion—are majority FDI-funded.
 |
Their exports climbed 6.2% to US$3.4 billion in the reviewed period while imports fell 10.7% to US$2.5 billion.
Imports declined as a result of the continuing economic downturn, contract deficiencies, and the increasing costs of input materials.
HCM City has pledged to address any difficulties encountered by businesses operating in the IPs and EPZs, organise regular dialogues with the business community, accelerate administration reform, and complete Hiep Phuoc IP’s Vietnam-Japan technological zone in the hopes of attracting additional Japanese investors.