HEPZA aims to lure 500 million USD in investment this year

Employees work at Linh Trung 1 Export Processing Zone in Ho Chi Minh City. (Photo: VNA)

The Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) aims to attract 500 million USD worth of investment in 2022.

Hua Quoc Hung, head of the authority, said at a conference on January 14 that HEPZA will offer consultancy on legal procedures for the construction and operation of Pham Van Hai industrial park.

The 668-ha zone has been included in the city’s industrial park development planning scheme, as approved by the Prime Minister.

HEPZA will conduct administrative reform, raise investment quality and efficiency, step up COVID-19 prevention and control, and further support businesses, he added.

It will coordinate with municipal departments and agencies to set out criteria for investment attraction in processing and industrial parks, Hung said, noting that investment promotion will be enhanced through associations.

Notably, the authority will review processing and industrial parks that are eligible to be converted into COVID-19 hospitals.

To complete the tasks for 2022, HEPZA suggested the municipal People’s Committee boost decentralisation, authorizing it to perform State management tasks towards enterprises in processing and industrial parks.

Last year, investment inflow in HCM City’s processing and industrial zones was over 600 million USD, surpassing the target by 9.23 percent, with foreign investment reaching 220.26 million USD./.