HCMC Encourages 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.

 

By 2020 about 7,000 hectares of land would earmarked for setting up factories in three export processing zones and 12 industrial parks in the city, up from the current 4,000 hectares, Vu Van Hoa, chairman of the Ho Chi Minh City Export Processing and Industry Zone Authority (Hepza), said.

 

By last year, parks and zones housed nearly 1,200 projects with an investment of US$4.36 billion, of which, 463 worth US$2.63 billion, are foreign-owned, according to Hepza.

 

They contributed US$17 billion to the country’s total export of US$62 billion last year, it said. (Young People)