According to the city’s instruction issued last Friday, Hepza needs to recall the investment licenses and redeem land from investors who are incapable of or intentionally delay implementing industrial parks projects.

This move was made in response to Directive 07/CT-TTg of the Government issued in March on improving the management and operation efficiency of economic zones and industrial parks.

HCMC currently has 14 industrial parks and export processing zones covering a total area of 3,620 hectares with the average occupancy rate of over 60%.

Under the city’s planning until 2020, the city will have 22 such zones with a total area of around 5,900 hectares. Some industrial parks which will be developed in the next few years include Vinh Loc III, Phuoc Hiep, Bau Dung, and Xuan Thoi Thuong with over 2,200 hectares in total.

The city’s government has also asked Hepza to review projects in industrial parks and export processing zones by August 15. Hepza is asked to make a list of slow-moving and inactive projects as well as those having almost gone bankrupt or violating the laws on investment, labor and environment.

The authorities of every district will also have to check the planning and operations of all projects in industrial parks, recall slow-moving and inefficient ones and do not develop industrial zones on rice farming land.