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CAN THO’S IZS LURE $112M INVESTMENT IN 2018
Industrial zones in the Mekong Delta city of Can Tho attracted a total registered investment capital of US$112 million last year, 12 per cent higher than the annual target, according to the municipal Industrial Zones and Processing Zones Management Board.
Nearly $110 million came from 12 newly-licensed projects with the remainder from nine existing ones which raised their capital levels.
Last year, businesses operating in these zones reported more than $1.52 billion in revenue, a hike of 8 per cent, including $686 million from exports, up 23 per cent year-on-year. They also contributed VND1.94 trillion to the local budget, marking a modest increase of 4 per cent compared to 2017.
As of last year, the zones had 243 valid projects with a combined investment capital of $1.72 billion and more than $1 billion of the total was disbursed, the board said.
In recent years, the board has made efforts to improve the investment and business environment focusing on solving problems for enterprises operating in local industrial zones.
In the future, it will accelerate promotions to encourage more domestic and foreign businesses to invest in the zones. Top priority will be given to projects that support industries and hi-tech farming.
Notably, the board will call for Japanese small and medium-sized companies to support industry projects in the Viet Nam-Japan Friendship Industrial Zone which opened its doors in the city’s Tan Phu Ward, Cai Rang District late last year. Covering 30ha, the zone offers a wide range of services, including electronic components, information technology, engineering and pharmacy.
With an export target of US$40 billion set for 2019, this year is considered an important year for Vietnam's textile and garment industry in two potential export markets: Canada and Australia. Vietnam currently holds 4-5% market share in these markets. However, there are still many hurdles that the industry needs to overcome to capitalize on opportunities in CPTPP.
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