International investment in HCM City at all time high

HCM City officials has announced that total investment from international sources in its 15 industrial and processing zones surged to US$244 million during the first quarter of 2014.

Speakers at an April 2 conference on industrial and processing zones’ operations, reported that currently the industrial and processing zones are 64% occupied and have roughly valid 1,300 projects with a total pledged investment in excess of US$8 billion.

The projects grossed a record setting export turnover of US$955 million during the first quarter.

Speaking at the event, Ho Xuan Lam, chief of HCM City Export Processing and Industrial Zones Authority (Hepza) management board office, underscored that the top priority for future projects will be given to infrastructure development.

HCM City aims to prioritise investment in four key sectors – food processing; pharmaceuticals and chemicals; mechanical engineering; and electricity and electronics that help boost the city’s economic restructuring process, he said.