Home Business Not just FDI, domestic investment capital into industrial parks increased heavily in Vietnam’s Ho Chi Minh city

Not just FDI, domestic investment capital into industrial parks increased heavily in Vietnam’s Ho Chi Minh city

by Inside Out
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Head of the Ho Chi Minh City Export Processing Zone and Industrial Park Authority (Hepza) Hua Quoc Hung, on November 5, said at a press conference on the activities of industrial parks and export processing zones in the area that although being heavily affected by the Covid-19 pandemic, the situation of investment attraction has still posted impressive growth.

According to Hua Quoc Hung, domestic investment capital increased sharply, while the foreign one slightly decreased.

By the end of October this year, the total investment capital, both newly-registered and adjusted, hit US$591.94 million, reaching 118.39 percent of the plan, an increase of 7.16 percent compared to the same period last year. Of which, total foreign investment capital reached $270.67 million, down 19.14 percent.

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Domestic investment attraction topped nearly VND7.44 trillion ($321.27 million), an increase of 47.6 percent over the same period. Noticeably, newly-registered investment capital that focuses on the projects of building factories and warehouses for rent of some infrastructure development enterprises to serve the demand for subletting of small and medium-sized and supporting industry enterprises soared sharply.

To support enterprises to overcome difficulties, Hepza has approved rescheduling for 34 projects, lowered factory rent by 10-30 percent, reduced electricity bills and excess wastewater treatment charges, and extended fee payment deadlines for infrastructure maintenance and restoration without late payment charges.

By Lac Phong – Translated by Gia Bao

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