Investment handbook to be published to assist businesses

Wednesday, Oct 12, 2016 15:00

Linh Trung Export Processing Zone II under the management of HCM City Export Processing and Industrial Zone Authority. - Photo
 CITY (Biz Hub) — HCM City Export Processing and Industrial Zone Authority (Hepza) is compiling an investment handbook in different languages to provide businesses with necessary information on local investment procedures.

The information was released during Hepza's press briefing held yesterday on plans and policies to attract investment in the last quarter of the year.

The handbook publication was among important measures to promote investment in export processing and industrial zones in the city, head of Hepza's investment management division Tran Viet Ha said.

He said the authority would continue asking the municipal People's Committee and relevant ministries to expeditiously tackle investment-related obstacles, especially regulations on land lease in processing and industrial zones.

Ha attributed the land lease issue to a slump in investment in local export processing and industrial zones compared with 2015.

As of September 30, total investment in the zones (for both new and expansion projects) reached US$354.7 million, a drop of 54 per cent compared with the same period last year.

Of the sum, $167 million was from foreign investors, down 67.4 per cent, while domestic investments contributed $187 million, representing a decline of 27 per cent from a year earlier.

In addition, the authority would also enhance assistance for enterprises to access capital and update production technologies, maintain the single-window mechanism for investment projects and cut down 30 per cent of the administrative procedure handling time, Ha said.

Hepza was urging new industrial parks to build infrastructure to ensure land supplies for companies to rent, he added.

Tran Cong Khanh, head of the Hepza office, said the strong decrease in investments was also caused by problems emerging in the enforcement of the 2013 Law on Land and sluggish guidance on the implementation of the 2014 laws on investment and enterprises.

He added that many investors also wanted to wait for the parliaments of the member countries of the Trans-Pacific Partnership (TPP) agreement to ratify this deal. — VNS

Comments (0)