Vietnam to Have 128 Industrial Parks by 2010

Vietnam to Have 128 Industrial Parks by 2010

Vietnam will have 128 industrial parks (IPs) by 2010, according to the IP Management Department under the Ministry of Planning & Investment.

Local IPs are expected to attract 1,550 more foreign direct investment (FDI) projects with combined registered investment of $12 billion and 2,450 domestic projects worth $7 billion in the 2006-10 period.

Currently, Vietnam has 115 IPs with a total area of 32,000 hectares (excluding the Dung Quat and Chu Lai economic zones). Sixty-nine of the IPs have started operations, leasing out 59% of their land area.

Most of the IPs are located in Ho Chi Minh City, Binh Duong, Dong Nai, Hanoi, Haiphong, Ba Ria Vung Tau, Danang and Thua Thien Hue.

According to the Ministry of Planning & Investment, IPs in the country have so far attracted over 1,500 FDI projects worth $12 billion and 1,600 domestic projects capitalized at VND80 trillion ($5.06 billion).

Enterprises in local IPs secured total industrial production of $11 billion in 2004, accounting for 26.4% of the country’s total industrial production. They reported total export revenues of over $5 billion, paid $500 million to the State budget and provided 700,000 new jobs in the year.

Investment