Investment in HCMC's industrial zones tops $190M in Q1

By VNA   April 13, 2024 | 11:21 pm PT
Investment in HCMC's industrial zones tops $190M in Q1
A worker at an electronics manufacturing factory in HCMC's Tan Thuan Export Processing Zone. Photo by VnExpress/Le Tuyet
Industrial and export processing zones in Ho Chi Minh City attracted $191.93 million in investment in the first quarter.

This number is equivalent to 34.9% of the target for 2024 and 112.12% higher than the figure in the same period last year, the HCM City Export Processing and Industrial Zones Authority (HEPZA) reported Friday.

Of the total sum, foreign investment stood at $4176.7 million, rising 3.6-fold from a year earlier. Meanwhile, domestic investment fell 63.15% to VND352.42 billion ($14 million).

Head of HEPZA Hua Quoc Hung said that in Q1, businesses based in local export processing and industrial zones operated stably. Many got orders again after facing difficulties for a long period.

Businesses at the zones posted an estimated export turnover of $2.17 billion in Q1, up 6% over the same period last year. They employed about 277,000 workers, an increase of 10% against the end of 2023, he noted.

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