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Industrial zone begins to lure investors
The Dinh Vu Industrial Zone in Hai Phong City is expected to attract a total investment of US$200 million in the first half of this year after a year of difficulties due to the world economic crisis, according to reports from the industrial zone.
Earlier this week, the Hai Phong Economic Zone Authority officially granted an investment certificate to FGAS Petroleum Limited Sole-Member Company to install a $12 million LPG and petroleum Terminal in the petrochemical area of the Dinh Vu Industrial Zone (IZ). Representatives from the IZ are also actively negotiating with investors from the heavy and petrochemical industries to try and reach the target of $200 million in investment for the first half of the year.
This year, the IZ infrastructure will be further developed and improvements made to existing services to better serve current and future tenants.
The IZ attracted four projects last year with a total investment of $340.9 million, seven times higher than the previous year at $44.7 million. So far, it has lured a total investment of around $1 billion for 27 projects.
The success in attracting more investment last year was due to increased investment promotion programmes, said Filip Martens, Dinh Vu Industrial Zone general director.
This year, the IZ would hold investment promotion programmes for the US, Europe and Japan, added Martens.
He said Viet Nam should have investment incentives for high-tech and support sectors as well as preferential import and export taxes for foreign firms that invest in ailing sectors to attract more investors in the future.
The State should also issue a list of sectors with investment incentives for the new period, he said.
The Dinh Vu Industrial Zone is known for having a strategic locational advantage, an infrastructure including a 20,000 DWT sea port and liquid jetty, a source of reliable utilities, and the best tax priviledges for any economic zone.
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