HANOI, April 13 (Xinhua) -- Vietnam's southern hub Ho Chi Minh City has set a target of developing 14 new industrial parks (IPs) by 2033 based on a smart and green model, local media VnEconomy reported Monday.

File photo of Ho Chi Minh City, Vietnam. (Photo: CMG)

The new IPs will cover a total area of about 3,833 hectares and will be developed in three phases through 2033, according to the Ho Chi Minh City Export Processing and Industrial Zones Authority.

The projects are currently in the planning stage, with investor selection to be conducted after the subdivision planning is approved, the report said.

The city currently accommodates 105 export processing zones and industrial parks spanning more than 50,288 hectares, of which 58 are in operation with an average occupancy rate of around 80 percent.