HCM’s domestic investments surpasses FDI capital in industrial zones

Hochiminh City (HCMC) Export Processing and Industrial Zones Authority (Hepza) said that domestic investments in the municipal industrial zones have nearly doubled the foreign direct investment (FDI) in the first seven months of this year.

Hochiminh City (HCMC) Export Processing and Industrial Zones Authority (Hepza) said that domestic investments in the municipal industrial zones have nearly doubled the foreign direct investment (FDI) in the first seven months of this year.

In Jan-July, Vietnam firms invested a combined number of $297 million into 35 newly registered projects and 19 existing projects while foreign direct investments reached only $136.3 million for 13 FDI newly registered projects and 14 expanded ones, Hepza said

In the last five years, Vietnam firms invested a combined number of $1.321 billion out of the total $2.1 billion investments poured in the export processing and industrial zones.

Nguyen Tan Phuoc, Vice chairman of Hepza, explained that “the world financial crisis has led to a slowdown in foreign investments globally. Besides, HCMC does not encourage FDI projects which are labor intensive, using low technology, high energy consuming, and high environment pollution level. The city just prefers projects which are high technology, clean, and environment friendly.”

Phuoc added that local investors are so proactive to make new investments, expand, and upgrade projects in the industrial zones. – Stoxplus.com

Tags: invest in Vietnam, Vietnam FDI, Vietnam investment

Posted by VBN on Aug 24 2010. Filed under Investment, Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry