Hanoi works to attract investment in industrial parks
Hanoi has focused efforts on improving administrative procedures and business climate as well as priority mechanisms to develop industrial parks and attract more investments in its IPs this year.
Hanoi, (VNA) – Hanoi has focused efforts on improving administrativeprocedures and business climate as well as priority mechanisms to developindustrial parks (IPs) and attract more investments in its IPs this year.
The city has set the target of attracting 15-20 new projects with total capitalof 250-300 million USD in local IPs in 2017, with priority given to those inthe support industry, electronics, manufacturing and the production of highvalue added products.
To achieve the set target, the Hanoi Industrial and Export Processing ZonesAuthority (HIZA) is pushing forward with land clearance and infrastructureconstruction while urging licensed projects to accelerate capital disbursement.
According to the municipal Department of Industry and Trade, Hanoi has 19industrial and high-tech parks with a total area of nearly 5,250 and over 3,000hectares for 110 industrial clusters.
Themunicipal People’s Committee has just approved the building of four newindustrial clusters, including a 63.6-ha area in Ninh Hiep (Gia Lam district)for the production of consumer goods, an 18.3-ha area in Duyen Thai (Thuong Tindistrict) for electric cable, steel and mechanical products, a 43.460ha area inQuat Dong 2 (Thuong Tin district) for garments, leather shoes, farm produce andhigh technology and a 59.32-ha area in Thanh Oai district for the developmentof clean industries.
The city’s Department of Industry and Trade proposed zoning off 119 industrialclusters from now to 2020.
The department also suggested exempting or reducing land use fees forenterprises investing in IP and industrial clusters along with subsidizing 100percent of waste water treatment costs in IPs and industrial clusters.
In the first five months of 2017, Hanoi’s IPs attracted seven new projects withtotal registered capital of 44.8 million USD. To date, IPs in the city arehousing 628 projects, comprising 330 foreign direct investment projects worth5.34 billion USD and 298 domestic projects valued at 12.9 trillion VND (567.3million USD).-VNA
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Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Illustrative image (Source: VNA) 
