Investment at HCM City IPs up 7.16 percent in 10M

November 06, 2020 | 16:39

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Industrial parks (IPs) and export processing zones (EPZs) in HCM City attracted investment totalling 591 million USD in the first 10 months of this year, an increase of 7.16 percent year-on-year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).

investment at hcm city ips up 716 percent in 10m

Illustrative image (Photo: VNA)

HCM City - Industrial parks (IPs) and export processing zones (EPZs) in HCM City attracted investment totalling 591 million USD in the first 10 months of this year, an increase of 7.16 percent year-on-year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).

FDI stood at 270 million USD, down 19.14 percent.

Domestic enterprises, meanwhile, invested over 7.4 trillion VND (321 million USD), a year-on-year increase of 47.6 percent.

The services sector attracted the most major projects in the period, with capital of 81.16 million USD, followed by the mechanical, electronics, plastics, and rubber industries.

Director of HEPZA Hua Quoc Hung attributed the decline in FDI to COVID-19.

Foreign investors were primarily interested in logistics and workshop infrastructure in the first 10 months, Hung said, adding that foreign-invested enterprises (FIEs) at IPs and EPZs in the city have greatly contributed to job creation, especially in services, footwear, and textiles.

According to HEPZA, its export turnover reached 5.3 billion USD, with more than 3.8 billion USD from FIEs, or 73 percent.

VNA

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