Hanoi pushes investment into industrial zones in 2022

June 14, 2022 | 14:15
Hanoi Industrial and Export Processing Zones Management Authority (HIZA) aims to complete one new industrial zone (IZ) and finalise investment procedures for two or three other industrial and hi-tech areas this year.

The message was delivered in a meeting held during the week of June 6 to sign cooperative minutes between HIZA and the the people’s committees of Hanoi’s different districts on bolstering state management efficiency for the zones’ operation.

At the meeting, Hanoi’s leaders demanded joint efforts to push the review of the zones’ development planning for the period from 2021 to 2030, with a vision toward 2050.

In light of the scheme to form two to five new IZs in Hanoi by 2025, Hanoi has committed to accomplishing the target of establishing the Soc Son green IZ over 302 hectares, the 300ha Dong Anh IZ, the 112ha Bac Thuong Tin IZ, the 389ha expanded Phu Nghia IZ in Chuong My district, and the 175ha Phung Hiep IZ in Thuong Tin district.

Hanoi pushes investment into industrial zones in 2022
Hanoi aims to shape five new IZs during the 2021-2025 period

The city is also focused on accelerating the zones that already have developers like Quang Minh IZ in Me Linh district and Hanoi Bio Hi-Tech Zone in North Tu Liem district.

Hanoi also plans to remove hurdles to facilitate the implementation of the second phase of the Southern Hanoi Supporting Industrial Zone.

According to Hanoi People’s Committee, implementing the scheme of setting up new IZs aims to develop the city’s industrial infrastructure system and call on businesses to invest in IZ and hi-tech zones in urban areas, contributing to the capital’s fast and sustainable socioeconomic development.

In the first half of this year, IZ-based businesses posted around $4.9 billion in total revenue, paid $238.5 million to the state, and reaped more than $3.1 billion in total export value.

At the meeting, HIZA set forth the target of raising around $400 million in total committed investment volume in the second half this year – equal to a 28.8 per cent jump on-year – with zone-based businesses counting $8.2 billion in total revenue, and paying $229.4 million to the state coffers.

Also according to HIZA, in the first five months of this year, Hanoi-based IZs attracted four new projects valued at over $20.5 million and 12 existing projects registered for capital additions of about $61.3 million.

As of now, Hanoi-based IZs are home to over 700 investment projects, including 305 foreign projects worth more than $6.1 billion in total registered capital and 402 domestic projects valued at more than $782 million.

In the first half of this year, businesses based in the zones reported around $4.9 billion in total revenue, paid $238.5 million to the state, and reaped more than $3.1 billion in total export value.

By Anh Duc

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