Investment in HCM City’s export processing, industrial zones up 86%

Tuesday, 2020-04-14 17:24:19
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A corner of Saigon Hi-tech Park (Photo: VNA)
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NDO/VNA - Export processing and industrial zones in Ho Chi Minh City saw 117 million USD of investment in the first quarter, an 86% increase compared to the same period last year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).

FDI in the zones was nearly US$66 million, a 2.58% increase year-on-year.

Eleven FDI projects registered an increase in capital of over US$60 million. There were six new projects with a total capital of US$5.48 million, a 74% decrease from last year.

The zones received VND 1.1 trillion (US$47 million) worth of domestic investment, up 37% year-on-year. There were 13 new projects, while 12 projects increased their capital.

The increase in investment in the zones was mainly from domestic sources and foreign projects that already had plans to register more capital, according to the authority, which said that the level of investment attraction in the second quarter may face challenges due to the COVID-19 pandemic.

HCM City, as of March 20, had attracted over US$1 billion worth of FDI, a 33% drop year-on-year, according to the HCM City Statistics Office.