HCM City's IPs target 3.7 billion USD in investment attraction after mergence
Efforts should focus on attracting both foreign direct investment (FDI) and domestic investment, with priority given to high-tech and environmentally friendly projects.
New export processing zones and industrial parks (IPs) in Ho Chi Minh City expect to attract a total of 3.73 billion USD in investment in 2025. - Illustrative image (Photo: VNA)
HCM City (VNA) – New export processing zones and industrial parks (IPs) in Ho Chi Minh Cit꧃y have expected to attract a total of 3.73 billion USD in investment in 2025 after merging Ba Ria – Vung Tau and Binh Duong provinces with th🌌e southern economic hub.
Le Van Thinh, Head of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA), stated that to achieve the set target, the city’s IPs must clearly define key task groups that both build on past progress and meet the requirements for transitioning the development model of export processing and industrial zones in the coming period.
Efforts should focus on attracting both foreign direct investment (FDI) and domestic investment, with priority given to high-tech and environmentally friendly projects. This will be achieved by accelerating administrative reforms and providing strong support for businesses, Thinh said.
He underlined the need for IPs to pursue selective investment attraction, focusing on high-tech and high value-added projects with broad spillover effects, with priority sectors including semiconductor and microchip manufacturing, biotechnology, renewable energy, data centre, and research and development (R&D); and those less affected by trade tariffs, such as software services and data centres.
According to Thinh, IPs need to proactively provide procedure support for proposed projects in their areas, as well as assist potential investors who are currently surveying locations. They should also implement a special investment procedure mechanism that allows for the integration of investment, construction, environment, and fire prevention procedures into a single streamlined process.
He also emphasised the importance of establishing land areas to attract investment by closely coordinating with relevant departments, sectors, and localities to speed up the development of new and more efficient IPs. This involves a regular review of delayed projects to terminate ineffective or long-idle projects, ensuring the process adheres to legal regulations.
HCM City should also organise activities to connect businesses in production and trade, particularly by linking local enterprises with great FDI companies to join in global supply chains; strengthen ties with business associations and chambers of commerce (such as JETRO, EuroCham, AmCham) to reach out to and engage potential foreign investors, he said.
Attention should also be paid to anticipating developments that could affect business activities and take timely and proactive measures in response, Thinh added./.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
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