HCM City is still attractive to investors despite COVID 19 pandemic

Employees work at Dai Dung Metallic Manufacture Construction and Trade JSC at An Ha Industrial Park in Ho Chi Minh City’s Binh Chanh district. (Photo: VNA)

The Management Board of HCM City Export Processing Zone and Industrial Park Authority (HEPZA) on November 12 said the investment inflow into the city’s industrial zones has shown many positive signs.

The investment capital in IZs in the locality, both new and additional investment, has so far this year reached 455 million USD, equaling 83 percent of the year’s plan.

According to Hua Quoc Hung, head of the HEPZA, a number of new foreign investors have also contacted the management board to inquire into investment licensing process and land leases for building new factories with large capital. He said one of those potential investor is looking to pour about 200 million USD in a lithium battery production project which would cover 15 hectares in the northwest industrial park of the city.

After the period of social distancing for COVID-19 pandemic prevention and control, businesses have gradually adapted to production in the new normal situation in line with the guidance of the Ministry of Health, Hung said.

As many as 1,355 enterprises or 96 percent of those operating in industrial parks in the city have resumed operations, drawing more than 230,500 workers back to work, who represent 80 percent of the total number of labourers at the local IPs.

Currently, the city’s export processing zones and industrial parks are home to 1,652 valid investment projects with a total registered investment capital of 11.49 billion USD, including 556 FDI projects with registered capital of 6.63 billion USD.

According to HEPZA, enterprises located in the city’s EPZs and IPs earn 7 billion USD in export turnover and contribute 32 trillion VND to the State Budget each year./.