Over 300 new industrial parks and economic zones opened in first quarter

The MPI also gave permission for 125 existing foreign projects to increase their investment by a combined $500 million.

Over 300 new industrial parks opened in the first three months with a large number of foreign investors. Photo by DNVN

The Department for Economic Zones Management reported that during Q1, the country opened 305 industrial parks covering over 84,000 hectares, and 16 economic zones covering 814,792 hectares of water and land.

Some of the stand-out projects registered in Q1 include: DaYang Paper Mill Limited Company in Long Jiang Industrial Park ($220 million); Maple Co.'s (Singapore) garment factory in Bac Ninh's Viet Nam Singapore Industrial Park ($110 million) and New Wing Interconnect Technology's audiophones plant in Bac Giang province ($100 million).

Regarding domestic investment, industrial parks and economic zones enticed 270 projects with total registered capital of VND6.5 trillion ($292 million) in the first three months. The projects focus mainly on luxury garment production and support industries for the textiles and engineering sectors. Ho Chi Minh City and Dong Nai province led the country in terms of investment attraction.