Monday , July 15 2024

HCMC industrial clusters expected to more than double investment per hectare

HCMC’s industrial parks and export processing zones are expected to see investment per hectare increase by 2.4 times by 2025, a senior official has said.

At a meeting held Thursday to review their performance since, head of the HCMC Export Processing and Industrial Zones Authority (HEPZA), Hua Quoc Hung, said his agency has set a target of increasing investment by tenants from US$6.3 million per hectare now to $15 million.

Now each hectare also accounts for exports of $46.7 million and 144 jobs, he said.

HEPZA is encouraging IPs and EPZs to focus more on technology, increase added value and become more environment-friendly by 2030, he said.

Most investments in IPs and EPZs are small, their infrastructure does not fully meet the needs of migrant workers who account for 71% of their workforce and their human resources quality is low, he said.

“The curriculum at schools is still heavy on theory and slow to innovate, and the training content is not linked to practical needs. Businesses have to retrain workers.”

Nguyen Van Nen, secretary of the HCMC Party Committee, called on HEPZA to develop human resources and improve social infrastructure including dormitories and kindergartens to benefit workers.

The city’s EPZs and IPs house 1,674 business projects with investments of more than $12 billion, 45% of it coming from foreign investors.

On average, they attract over $260 million worth of foreign investment annually, or 58% of the city’s total.

There are currently three EPZs and 14 IPs with a total area of over 3,800 ha and an occupancy rate of 77%.

Tan Thuan, built in 1991, was the first EPZ to come up anywhere in the country.

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