Hai Duong's IZs absorb $3 billion
Hai Duong's IZs absorb $3 billion
Industrial zones (IZs) in the northern province of Hai Duong have attracted 163 projects from 30 countries and territories, with capital totaling US$3 billion.
To date, $1.7 billion (56.7 per cent of the total registered capital) has been implemented, according to the provincial IZ authority.
Most foreign-invested projects in the locality focus on electronics, electricity and garments and textiles. Many of them are funded by big groups from Japan, South Korea, Taiwan, Hong Kong, Canada, Malaysia and France.
Currently, investment license procedures are underway for two pending projects in the Dai An IZ – the $200 million Canada International Hospital and a $65 million project to build workshops for lease.
Addressing a ceremony to mark the tenth anniversary of the IZ authority's establishment, Deputy Minister of Planning and Investment Nguyen Van Hieu praised efforts to develop infrastructure and attract more investment projects.
The Ministry of Planning and Investment would continue closely coordinating with provincial authorities to facilitate business operation and projects underway in the province, he said.
Provincial authorities have simplified investment procedures, authority representatives announced. Local leaders pledged to continue applying the "one-stop" mechanism at local IZs.
The province offered land rent exemptions and reductions for investors building production facilities in local industrial zones, plus a number of other incentives, including financial support for site clearance and corporate income tax reduction.
In order to better facilitate investment and infrastructure, the province's IZs will be further improved, local authorities said.
The province aims to build seven new IZs by 2020 while expanding the 11 existing zones, which cover 2,400ha. Those that have already been occupied are Nam Sach, Phuc Dien, Viet Hoa – Kenmark, Lai Vu. Cam Dien-Luong Dien, Cong Hoa and Kim Thanh.
Last year, the IZ-based enterprises posted VND46 trillion ($2.19 billion) in revenue. Their exports reached over VND37 trillion ($1.76 billion), accounting for 90 per cent of the province's total export turnover, while their production output made up 40 per cent of the province's total production value.
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