The HCM City Department of Planning and Architecture is preparing a plan to turn several industrial parks and export processing zones into hi-tech industrial parks.
HCM City authorities promise to offer competitive land rentals and other incentives at industrial parks (IPs) and export processing zones (EPZs) besides improving the business environment.
Many industrial parks and export processing zones in HCM City lack sufficient infrastructure since authorities’ failure to pay compensation for lands has meant they have been unable to acquire and clear them.
To attract more investment, especially from overseas, HCM City needs to renovate and reform its export processing zones (EPZs) and industrial parks (IPs), experts have said.
Foreign direct investment (FDI) in HCM City in the first quarter of the year rose by 109 per cent compared to the same period last year, pointing to a positive trend that indicates investors feel more confident about the economy.