HCMC solves problems to attract investors to industrial parks

SGGP
Standing deputy chairman of HCMC People’s Committee Le Thanh Liem yesterday required agencies to review legal procedures and quickly solve problems and difficulties to facilitate investment attraction to industrial parks in the city.

An industrial park in HCMC (Photo: SGGP)

An industrial park in HCMC (Photo: SGGP)

He was quoted as speaking at a working session between the deputy chairman, city agencies and the management board of HCMC Export Processing and Industrial Zones Authority (Hepza) on implementation of 2018 mission.
Reporting last year performance, Hepza representative said that total investment capital including new and additional funds was US$840.14 million, accounting for 168 percent of the year plan and increasing 68 percent over 2016.
Of these, foreign investment reached $391.85 million, up 53.18 percent and domestic investment hit $448.29 million, up 83.70 percent over 2016. Land and factory area for rent doubled 2016.
Despite the above achievements, Hepza has met with some difficulties and limitations so there has been no breakthroughs, said the representative.
At the meeting, Mr. Liem appreciated efforts by Hepza management board for the last past, especially attempts to work with agencies and make timely proposals to solve difficulties for businesses and well take care of workers’ life.
On the same day afternoon, Mr. Liem presided over a meeting to approve the plan to implement this year missions of Saigon Hi-Tech Park (SHTP).
Mr. Le Hoai Quoc, head of the park management board, said that the key mission of SHTP this year is to call for investment to Saigon Silicon City, scientific space and built-in factory area; ask for the policy of choosing investors for green cover projects and a 3.05 hectare worker dormitory area; assist Vietnamese firms to attend support product supply chain for global technology groups including Samsung.
Asides from that, SHTP will complete a project to establish its investment promotion representative office in Silicon Valley, the US.
This year, the park has set a target of foreign direct investment (FDI) attraction of $600 million and hi-tech product production value of $14 billion.
Stating at the event, Mr. Liem affirmed the important role of SHTP to the city’s development, showed through FDI attraction result, budget revenue contribution and export value. The park is the locomotive in implementing new mechanisms and solutions to create a transparent investment environment for the city.
SHTP has proved outstanding development with significant improvement in labor qualification and localization rate in hi-tech products.
This year, Mr. Liem required SHTP management board to more clearly quantify norms and have solutions to implement. Infrastructure construction investment must be professional in association with relevant regulations. Security and order must be regularly paid attention to to make investors set their minds at rest to produce and trade.

By LAC PHONG, GIA QUANG – Translated by Hai Mien

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