HCMC eyes more investment in hi-tech industries

Ho Chi Minh City will encourage more investment in advanced mechanical engineering and the electrical, electronic, and chemical industries in its industrial parks, an official said.

By 2020 about 7,000 hectares of land would be earmarked for setting up factories in three export processing zones and 12 industrial parks in the city, up from the current 4,000 ha, Vu Van Hoa, chairman of the HCMC Export Processing and Industry Zone Authority (Hepza), said. By last year the parks and zones housed nearly 1,200 projects with an investment of US$4.36 billion, of which 463, worth $2.63 billion, are foreign-owned, according to Hepza. They contributed $17 billion to the country’s total export of $62 billion last year, it said. Reported by Minh Quan