Sewing machines are manufactured at Juky Viet Nam Limited Co in HCM City's Tan Thuan Export Processing Zone. The city's industrial zones have attracted 20 Japanese-invested projects, worth $183 million, over the first half of this year. — VNA/VNS Photo Thanh Vu

HCM CITY (Biz Hub)— The People's Committee of HCM City on Tuesday granted licences to three Japan-funded projects with a combined investment capital of US$166 million in the city's industrial parks and processing zones.

The Unika Group will now develop a project in Hiep Phuoc Industrial Zone to build Japanese-standard warehouses for small and medium-sized enterprises and support them during operation.

Meanwhile, Saigon Precision and Nidec Tosok Akiba Viet Nam will increase investment in two operating projects in the Linh Trung 2 and Tan Thuan export processing zones, respectively. The two projects are mainly involved in precision engineering components.

Nidec Tosok Akiba Viet Nam will increase investment in two operating projects in Tan Thuan export processing zones.— Photo diendandautu

Speaking at the granting ceremony, chairman of the municipal People's Committee Le Hoang Quan applauded the new funding from Japanese investors, saying that it marked important progress in the hi-tech industry, contributing to the development of the city.

HCM City is now one of the leading cities and provinces in attracting Japanese investment.

The HCM City Export Processing and Industrial Zones Authority (HEPZA) said most of the Japanese projects in the city's zones were doing well, and many had expanded following a successful period of operation.

Over the first half of this year, it issued licences for 20 Japanese projects with a total investment of more than $183 million, which accounted for 54 per cent of the total foreign investment.

HEPZA said it would solicit investment in the machinery and electronics industries and was planning to carve out a Viet Nam – Japan Industrial Area in the Hiep Phuoc Industrial Zone in HCM City.

It said it would also organise trade promotion events in Japan to attract investors. — VNS