A corner of the Tra Noc Industrial Zone in Can Tho City. Industrial parks and export processing zones in the city have only managed to attract five new projects with a total investment of $18.6 million in the first eight months of this year. — VNA/VNS Photo Hong Ky

HCM CITY (Biz Hub)— Despite struggling to attract new investments, Can Tho has decided to speed up construction of industrial parks, hoping investors will return when the global economy recovers.

The Cuu Long (Mekong) Delta city has faced difficulties in attracting new investment this year due to the world economic downturn, ineffective promotion work, and poor infrastructure, according to the Can Tho City Export Processing and Industrial Zones Authority (CEPIZA).

It also blamed the reduction in incentives and inconsistency in investment policies.

Industrial parks and export processing zones have only managed to attract five new projects with a total investment of $18.6 million in the first eight months, CEPIZA said.

Another 16 projects have increased their investment by $20.7 million, it added.

There are now two IPs – Tra Noc 1 and 2, both almost fully occupied – and the city is building six more, namely Hung Phu 1, 2A, and 2B, Thot Not, O Mon and Bac O Mon.

Hung Phu 1 (270ha), Hung Phu 2A (134ha) and Hung Phu 2B (62.63ha) will come up in Cai Rang District, four kilometres from the city centre, 12km from the airport, and 11km from the main port.

They are also situated near Cai Cui Seaport and warehouse and are equipped with modern equipment and services.

They can fully meet investors' electricity, water, and telecom needs.

They will prioritise investment in certain sectors like mechanical engineering, electronics, and agricultural and seafood processing.

The 600ha Thot Not IP is situated in Thot Not District, 60km from the city centre and conveniently located near National Highway 91 and the Hau River.

It will mainly focus on agricultural and seafood processing and manufacture of agricultural machinery.

The 600-ha O Mon and 400-ha Bac O Mon will be built in O Mon District, and the city is looking for developers.

CEPIZA has told IP developers to report on difficulties they face so that it can resolve them.

Can Tho has so far attracted of $1.87 billion in 205 projects, including 23 foreign projects worth $184.44 million. — VNS