Over the past 30 years, industrial parks (IP) and economic zones (EZ) across the country have attracted more than US$100 billion of investment, and created jobs for more than 4 million labourers.
The Republic of Korea (RoK) wishes to invest in building an industrial park for Korean firms with an area of 50 hectares and set up a service support centre for foreign enterprises to facilitate their operations.
A support package worth 6.6 trillion VND (290.4 million USD) will be spent on providing housing rental subsidies for labourers who are working in industrial parks (IPs), export processing zones (EPZs) and key economic regions.
The HCM City Export Processing and Industrial Zones Authority said the city’s industrial parks and processing zones hope to attract investment worth US$500 million this year.
The Hanoi government has approved a plan to establish an additional two to five new industrial parks (IPs) in the 2021-2025 period.
The northern province of Hung Yen has issued a decision on the establishment of the Vietnam – Republic of Korea Economic Cooperation Industrial Park (IP).
The impacts of the COVID-19 pandemic have slowed down the operations of businesses in industrial parks (IP), disrupting supply chains and labour, according to a recent report by the Ministry of Planning and Investment (MPI).
Bac Giang provincial authorities aim to have 120,000 workers return to work in Industrial Zones by October 2021.
Vietnam’s count of COVID-19 cases has crossed the milestone of 10,000 more than a month after the resurgence of the virus began in late April, wreaking havoc on multiple major industrial parks where thousands of factory workers have become infected.
There were positive developments of industrial parks in Vietnam in the first five months of the year, but experts still say the country should do more to attract big investors.
The two northern provinces of Bac Giang and Bac Ninh, Vietnam’s largest Covid-19 hotspots, have received 300,000 doses of vaccine for 300,000 workers in industrial parks. Vaccinations started on May 27.
Vietnam has witnessed a growth in the arrival of global high-tech brands like Pegatron, Universal Scientific Industrial, Foxconn.
Over $747.6 million were poured into export processing zones (EPZs) and industrial parks (IPs) in Ho Chi Minh City in 2020, representing a year-on-year increase of 15.79 percent.
With the current minimum wage of US$132-190 per month, Vietnam has been listed in the top three ASEAN countries having the lowest labor cost.
HCM City authorities plan to offer competitive land rents and other incentives at industrial parks (IPs) and export processing zones (EPZs), and earmark more lands for building infrastructure to attract investment.
HCM City has reached 12 of its 16 targets in its pollution reduction programme for the 2016-20 period, according to the city’s Department of Natural Resources and Environment.