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HCM City economic hub of Vietnam set target of USD 700mn investment in 2015

YarnsandFibers News Bureau 2015-01-19 18:30:00 – HO CHI MINH CITY, Vietnam

Vietnam's southern economic hub Ho Chi Minh (HCM) City’s industrial zones (IZ) and export processing zones (EPZs) in 2014 attracted 752 million U.S. dollars in investment, up 23 percent year-on-year, sources from the city's Export Processing and Industrial Zone Authority (Hepza) reported.

This year HCM city has set a target to receive at least 700 million U.S. dollars in investment into its industrial zones (IZs) and export processing zones (EPZs).

Several foreign investors have poured money into major garment and textile projects in anticipation of the TPP, and Hepza plans to start work on the construction of tall workshops in industrial zones to accommodate more investors, said the official.

In 2014, domestic investment capital in the city's IZs and EPZs surged 65 percent year on year, focusing on high-tech and environmentally-friendly industries such as manufacturing, fashion design, high- quality food processing and mechanical engineering, reported Hepza.

Tran Viet Ha, Head of Hepza Investment Management Office said that Vietnam would see a new wave of investment in the time ahead in the context of the expected conclusion of the Trans-Pacific Partnership Agreement (TTP) and the expanding global garment and textile market forecast to rise by 3.5 percent this year.

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