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FDI in City industrial zones halved

Update: December, 31/2016 - 09:00
Tân Thuận Export Processing Zone in HCM City. Photo Mạnh Linh
Viet Nam News

HCM CITY— Industrial zones in HCM City hope to attract investments worth US$500 million next year, according to the HCM City Export Processing and Industrial Zones Authority.

Exports by companies situated in Industrial parks (IPs) and export processing zones (EPZs) are expected to top $6 billion next year, Trần Công Khanh, head of the HEPZA office, told a press meeting on December 30.

HEPZA continues to encourage investment in four key industries, including -- mechanical engineering, electronics and IT, chemicals and food processing, and supporting industries -- he said.

To achieve the target, it plans to expand Lê Minh Xuân IP and complete the third phase of Hiệp Phước IP.

It will develop areas set aside for supporting industries in Hiệp Phước, Lê Minh Xuân No.3 and Automotive-Mechanical IPs.

Trần Việt Hà, head of the investment management department, said foreign direct investment halved this year to $255.61 million.

Investments by domestic enterprises were worth VNĐ5.2 trillion ($237.71 million), a year-on-year decrease of 14 per cent, he said.

He attributed the decline to a shift in investment towards high-tech industries instead of labour-intensive sectors, meaning there was a fall in investment in sectors like textiles and footwear. 

Exports by enterprises in IPs and EPZs were estimated at $5.86 billion.

A total of 1,385 projects with a combined investment of $9.22 billion, including 535 FDI projects worth $5.41 billion, are operating in IPs and EPZs.

They employ more than 285,700 workers, including 2,346 foreign nationals.

Tết bonus

The average Tết (Lunar New Year) bonuses to be paid by domestic and foreign enterprises in IPs and EPZs are respectively VNĐ7 million (US$300) and 6.8 million (US$295), Khanh said.

The highest is VNĐ1 billion (US$43,480) to be paid by a domestic company, he said.

The lowest is VNĐ3.5 million (US$152).

A total of 6,000 workers will also get bus tickets to return home for Tết and gifts. —VNS

 

 

 

 

 

 

 

 

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