The Le Minh Xuan 3 Industrial Park. — Photo bizlive

HCM CITY (Biz Hub) — City authorities plan to reserve 500ha of land for the support industry at several industrial parks until 2020.

The city also plans to build an additional 100,000 sq.m of warehouse space which will be leased to small-and-medium-sized enterprises in the support industry.

The city will also invest in the support industry in an aim to increase the rate of industrial growth by seven percent within the next five years.

The Sai Gon VRG Joint Stock Company has begun building a multi-story warehouse in Cu Chi District's Dong Nam Industrial Park and Binh Chanh District's Le Minh Xuan 3 Industrial Park.

The three-to-eight storey warehouse will have monthly leasing fees of US$3 – $5 per square metre, and management fees of $1 – $2 per sq metre each month.

The deputy chairman of HCM City's People's Committee, Nguyen Huu Tin, has signed a zoning plan to build Le Minh Xuan 3 Industrial Park on 231ha of land in Binh Chanh District.

The VND1.2-trillion ($54.5 million) project is invested in by Sai Gon VRG Joint Stock Company.

The industrial park will focus on electronics, information technology, and food and beverage. It is expected that enterprises in the industrial park will employ 20,000 people.

A new industrial park is necessary, as other parks are using outdated technology that cause pollution, Tin said.

Besides the Le Minh Xuan 3 Industrial Park, other enterprises plan to build more warehouses in the city.

Last year, the city approved 29 FDI projects in industrial parks and export processing zones in the city. — VNS