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VietNamNews

City targets $700m in IZ investment

Update: January, 19/2015 - 08:41

The zones attracted $752 million in investment in 2014, up 23 per cent year-on-year. — Photo Bizlive

HCM CITY (VNS) — HCM City aims to lure US$700 million in investment into its industrial zones and export processing zones in 2015, according to the management board of the city's Export Processing and Industrial Zone Authority (Hepza).

According to the Head of Hepza Investment Management Office Tran Viet Ha, the zones attracted $752 million in investment in 2014, up 23 per cent year-on-year.

He predicted that Viet Nam would see a new wave of investment in the time ahead, citing the expected conclusion of the Trans-Pacific Partnership Agreement (TTP) and forecasts that the global garment and textile market would expand by 3.5 per cent this year.

The official noted that several foreign investors had poured money into major garment and textile projects in anticipation of the TPP, such as the $300 million Worldon Vietnam plant.

Hepza plans to start work on the construction of tall workshops in four industrial zones (Dong Nam, Hiep Phuoc, Linh Trung, Tan Thuan) to accommodate more investors.

Last year, domestic investment capital in the city's IZs and EPZs surged 65 percent against 2013, focusing on high-tech and environmentally-friendly industries such as electronics, manufacturing mechanical engineering, fashion design and high-quality food processing. — VNS

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