Hanoi develops industrial parks for 2021-2025

The Chairman of the Hanoi municipal People’s Committee has signed a decision approving the establishment of two to five industrial parks in outlying districts for the 2021-2025 period.

Illustrative image (Photo: VNA)
Illustrative image (Photo: VNA)

They are Soc Son IP in Soc Son district, Dong Anh IP in Dong Anh district, Bac Thuong Tin IP in Thuong Tin district, expanded Phu Nghia IP in Chuong My district and Phung Hiep IP in Thuong Tin district.

The city will also step up the ongoing building of IPs and remove difficulties for Hanoi Southern Supporting IP for the second stage.

Hanoi is now home to 10 IPs covering a total area of over 1,347 ha, nine of them sit on a site of more than 1,270h and have occupancy rate of nearly 100 percent.

As of the late December 2021, they drew more than 700 projects, including 303 foreign-invested ones worth around 6.1 billion USD and 399 domestic ones valued at roughly 18 trillion VND (782 million USD). During the 2015-2020 period, foreign direct investment in IPs reached 1.7 billion USD, or 130 percent of the target, up 13 percent from the 2011-2015 period.

Electricity and electronics drew the most capital with 44 percent, followed by mechanical engineering 24 percent and other industries 32 percent.

Among 25 countries and territories investing in Hanoi’s IPs, Japan took the lead with 60 percent, most of them have high capital and use modern technologies. Others include China, the Republic of Korea and Singapore.