HCM CITY – HCM City’s Export Processing and Industrial Zones Authority (HEPZA) is working to add more land for supporting industries, according to the city’s Department of Industry and Trade’s Centre for Supporting Industry Development.
Hiệp Phước Industrial Park has dedicated around 80 hectares for 56 supporting industry businesses, while Lê Minh Xuân 3 and Mechanical Vehicle industrial parks are focusing on improving infrastructure in preparation for businesses.
Meanwhile, other industrial parks are working on compensation for land clearance.
HEPZA is also pushing for the construction of factories; Tân Thuận export processing zone has finished two factories, one of which is being rented by a car parts manufacturer. Other industrial parks are working on procedures to lease their factories.
This is part of HCM City’s plan to develop its supporting industry and meet its goal of 45 per cent of national demand for manufactured inputs by 2020.
HCM City’s supporting industry has not been growing as quickly as others, and is affecting the city’s economic development as a whole. Around 95 per cent of the city’s supporting industry businesses are small to medium sized.
Every year, the city has to import billions of dollars worth of materials and components.
Source: Vientam News