Investment in HCM City’s industrial, processing zones up

At a factory in An Ha industrial park in Binh Chanh district of HCM City (Photo: VNA)

Total new and additional investment capital in Ho Chi Minh City’s industrial and processing zones reached 224.61 million USD in the first quarter of this year, an increase of 66.34 percent year-on-year and representing 40.84 percent of the annual plan.

Head of the management board of the HCM City Export Processing and Industrial Zones Authority (Hepza) Ly Quoc Hung said 119.21 million USD of the figure was foreign investment, up 80.67 percent year-on-year.

The remaining 105.4 million USD was from domestic enterprises, up 52.66 percent.

He said a majority of domestic and foreign enterprises have adopted modern technology to improve management and production towards boosting workplace productivity and product quality to meet the stringent demands of customers.

As the city's 2021 goal is to build an urban administration and improve the business climate, Hepza has come up with a plan to improve State management efficiency and step up administrative reform.

The board will hold dialogue in the second quarter between municipal authorities and enterprises in Hepza to tackle their difficulties and boost production and trade.

It also plans to hold dialogue between departments, sectors, and businesses regarding investment, taxation, and customs, as well as a conference to link banks and enterprises.

Investment will focus on four key industries with high technological content, fewer workers, supporting other industries, and services in support of industrial production.

It will also work with relevant agencies to prevent COVID-19 and popularise the Labour Code 2019 and guiding decrees./.