VND550 billion for Hiep Phuoc IP expansion

Van Nam

HIPC will sign an agreement with Vietinbank for a loan of VND550 billion on June 4 to develop the second phase of the facility, Tam told the Daily yesterday.

As much as 93% of the first phase of Hiep Phuoc Industrial Park (IP) has been occupied by 96 enterprises. HIPC next week will license two more mechanical companies, taking the total number of investors in the park to 98.

IP developers now are in a fierce competition to access bank loans as they are no longer subject to preferential lending rates as before, Tam said.

Under the HCMC IP development zoning plan by 2020 with a vision to 2025, the city will continue constructing high-tech IPs, attracting manufacturers to already-planned IPs and industrial clusters, developing supporting industries and minimizing labor-intensive schemes.

The city has 14 IPs and export processing zones (EPz) with more than 1,200 valid investment projects using nearly 260,000 workers. As per the plan, the city will have one hi-tech area, 20 concentrated IPs, EPZs and local industrial clusters on a total area of roughly 8,000 hectares in the next ten years.

Many IPs in the city have focused on investment in 2016-2020, including Bau Dung, Hoa Phu, Le Minh Xuan 2, Le Minh Xuan 3, Phu Huu, Vinh Loc 3, Xuan Thoi Thuong and Hiep Phuoc’s the third phase.