The existing industrial parks (IPs) in HCMC are nearly full as land available for lease is being exhausted, hindering the city’s industrial production expansion, according to the HCMC Export Processing and Industrial Zones Authority (HEPZA).

The number of Vietnam’s botnet IPs has decreased from 2 million to 1.3 million as a result of the 2020 campaign on checking and removing malware nationwide.

In anticipation of the investment shift driven by the Covid-19 epidemic and the Sino-U.S. trade war, multiple industrial real estate developers are rolling up sleeves with their investment. 

To attract more investment, especially from overseas, HCM City needs to renovate and reform its export processing zones (EPZs) and industrial parks (IPs), Tran Quang Truong, general director of Tan Binh Industry Park said.

Commenting about the reliance of Vietnam’s economy on FIEs (foreign invested enterprises), one economist noted that “when FIEs sneeze, the Vietnamese economy catches a cold".

The time when IPs could attract investors with infrastructure and incentives is over, as now IPs need to be designed and operated according to new standards.