Capital poured into HCMC’s EPZs-IPs up 21 percent in Q1

Export processing zones (EPZs) and industrial parks (IPs) in Ho Chi Minh City attracted over US$90.1 million worth of capital in the first quarter of 2023, increasing by 21.36 percent year-on-year and fulfilling 16.39 percent of the yearly plan.
Illustrative image. (Photo: SGGP) ảnh 1

Illustrative image. (Photo: SGGP)

According to the HCMC Export Processing and Industrial Zones Authority (HEPZA), $48.8 million of the sum was foreign investment, representing a two-fold rise year on year.

Meanwhile, domestic firms channeled $956.2 billion ($41.35 million) into the local EPZs and IPs, down 15.8 from the same period last year.

In the first quarter, 18 projects in these EPZs and IPs were put into operation, six were under construction, and two stopped working.

Hua Quoc Hung, head of HEPZA, said in the next quarter, the authority will increase its support for and monitoring of operating firms via thematic dialogue conferences; launch events connecting their supply and demand; and survey the localization rate of the enterprises.

The accumulated number of valid investment projects at the city’s EPZs and IPs has so far reached 1,700 projects worth $12.43 billion, including 554 foreign-invested ones valued at $6.92 billion.

Currently, 1,482 projects, including 517 foreign-funded ones, are operating in these EPZs and IPs.