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

Update: 18:58 | 14/04/2020
Export processing and industrial zones in Ho Chi Minh City saw 117 million USD of investment poured into the zones in the first quarter, a 86 percent increase compared to the same period last year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA).
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investment in hcm citys export processing industrial zones up 86 percent
Export processing and industrial zones in HCM City see an 86 percent increase in investment during the first quarter. (Photo: baodautu.vn)

FDI in the zones was nearly 66 million USD, a 2.58 percent increase year-on-year.

Eleven FDI projects registered more capital of over 60 million USD. There were six new projects with a total capital of 5.48 million USD, a 74 percent decrease from last year.

The zones received 1.1 trillion VND (47 million USD) worth of domestic investment, up by 37 percent 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 investment attraction in the second quarter may face challenges due to the COVID-19 pandemic.

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

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(Source: VNA)