HCM City investment shifts toward tech

	Hanoi completely revised 475 administrative procedures
	Growth target leans on FDI in last quarter
	Product origin key to seafood exports to EU

Workers of Sunny Group based in Linh Trung Export Processing Zone in HCM City.

Foreign direct investment was worth US$167.17, a fall of 67.4%, according to the HCM City Export Processing and Industrial Zones Authority (Hepza).

Hepza issued investment certificates for 14 FDI projects worth US$46.96 million, a year-on-year fall of 88.9%, while 23 existing projects invested an additional US$120.79 million, an increase of 33.88%.

Japan was the largest investor, accounting for 77.35% of the investment, followed by Singapore (9.59%), the Republic of Korea (7.64%) and Hong Kong (2.22%).

Most of the investments were in electronics (76.29%) followed by food processing (5.73%), high-end textiles (4%), mechanical engineering (2%), and plastic and rubber (1.26%).

Tran Cong Khanh, head of the Hepza office, told a press briefing on October 11 that this year Hepza encourages investment in high-tech and supporting industries as well as the four key industries of mechanical engineering, electronics and IT, chemicals, and food processing.

Investment by domestic enterprises fell 26.9% to US$187.05 million, with 50 new projects worth US$146.04 million getting licences, an increase of 11.2%.

Most of the new projects are in food processing, services, mechanical engineering, chemicals, plastics and construction materials.

Export by enterprises in the IPs and EPZs rose 6.76% to US$4.32 million.

Some 285,700 workers are employed in the IPs and EPZs, marginally up from last year.

Ho Chi Minh City lures US$2.3 billion in nine months The southern metropolis Ho Chi Minh City has attracted US$2.3 billion in foreign direct investment in the ...

There are more than 1,400 projects with total investment of US$9.31 billion, including 564 foreign-owned projects worth US$5.47 billion.