Authorities in Ho Chi Minh City are considering converting Tan Thuan Export Processing Zone into a complex of high-tech, service, and residential developments.
Tan Thuan EPZ was established in February 1992 in HCMC’s District 7 as Vietnam’s first export processing zone, creating a new model for boosting industrial development in the country. Following Tan Thuan EPZ, many other EPZs and industrial parks have come into being nationwide.
At a seminar on District 7’s development strategy held Tuesday in HCMC, the district's vice chairman Le Van Thanh said about 70% of corporate tenants in Tan Thuan EPZ, which covers more than 300 hectares, are processing companies.
Turning Tan Thuan into a zone for hi-tech investors and trading, service and residential projects would better support the growth and development of District 7 and HCMC, Thanh noted.
The EPZ's current status is reportedly no longer suitable to the district's development orientation as the zone is causing environmental pollution, while its low budget contribution is not proportionate to its scale.
HCMC Chairman Phan Van Mai said the city administration needs to fully review Tan Thuan EPZ in terms of operation and contribution to be able to work out the most feasible solutions.
“A must is to replace labor-intensive production in Tan Thuan with hi-tech projects and to develop financial services,” the chairman said.
Nguyen Van Dua, former Deputy Secretary of HCMC Party Committee, said factories in Tan Thuan EPZ should be moved to Hiep Phuoc Industrial Park in neighboring Nha Be district. He suggested the future of Tan Thuan as a complex of service, education, healthcare, culture, hospitality, and offices.