HCM City plans to establish a massive economic zone

As a result, the zone will encompass the entire District 7 and Nha Be districts, as well as parts of Binh Chanh and Can Gio. It will be comprised of the 300-hectare Tan Thuan export processing zone and the 1,354-hectare Hiep Phuc Port Urban Area.

For income generated from their investment projects in accordance with regulations, investors who invest in economic zones are eligible for incentives like tax exemption for four years and a 50% reduction in corporate income tax for the following nine years.

HCM City eyes establishment of huge economic zone.

Such a zone with large-scale socioeconomic development space and integrated production capacity plays a crucial role in transforming the underdeveloped coastal area of the southern metropolis into a driver of economic development.

It will also expedite the restructuring of the local economy towards industrialisation and modernisation, as well as the formation of a high-quality urban area. As HCM City promotes infrastructure development in its southern region, there are compelling reasons to establish an economic zone there.

The head of the HCM City Export Processing and Industrial Zones Authority (HEPZA), Hua Quoc Hung, stated that investors wished to rent dozens of hectares of land for factory construction, but the city was unable to provide them.

Therefore, when there is a sufficiently large economic zone with adequate infrastructure, the city will be able to attract large investors, creating a breakthrough in economic development, he explained.