In 2023, the industrial real estate market in Vietnam distinguished itself as the most dynamic sector, drawing major government and investor interest. The country’s large industrial parks (IPs) boosted the economy and attracted domestic and international investments. We shall delve into the key features and geographical positioning of the foremost 15 IPs poised for potential in 2024.
| Industrial Parks | Province | Size |
|---|---|---|
| Deep C IP | Hai Phong and Bac Ninh
(Northern) |
|
| Nam Dinh Vu IP | Hai Phong
(Northern) |
|
| Yen Phong II IP | Bac Ninh
(Northern) |
|
| Amata Song Khoai IP | Quang Ninh
(Northern) |
|
| Yen Binh IP | Thai Nguyen
(Northern) |
|
| Becamex Binh Dinh IP | Binh Dinh
(Central region) |
|
| Nhon Hoi A IP | Binh Dinh
(Central region) |
|
| Lam Son Sao Vang IP | Thanh Hoa
(Central region) |
|
| Du Long IP | Ninh Thuan
(Central region) |
|
| Phu Tai IP | Quy Nhơn
(Central region) |
|
| Sonadezi Chau Duc IP | Ba Ria Vung Tau
(Southern) |
|
| My Phuoc 3 IP | Binh Duong
(Southern) |
|
| Phuoc Dong IP | Tay Ninh
(Southern) |
|
| Becamex Binh Phuoc IP | Binh Phuoc
(Southern) |
|
| Hiep Phuoc IP | Dong Nai
(Southern) |
|
Here is some basic information about the top 15 large industrial parks with potential investment destinations in 2024.
The Northern region: Below is a list of the 5 largest industrial parks (IPs) in Northern Vietnam. These IPs play a crucial role in the economic development and industrial production of the region.
1. Deep C is the largest industrial park in Vietnam (Size: 3400 ha)
DEEP C Industrial Park was established from the DEEP C Hai Phong I project (formerly known as Dinh Vu Industrial Park) in 1997, resulting from a collaboration between Belgian investor Rent-A-Port and the People’s Committee of Hai Phong City. DEEP C has expanded into a complex of 5 industrial parks and 6 seaports, forming the DEEP C Industrial Park Complex with a total area of up to 3,400 hectares.
Over its 26 years of operation, DEEP C has successfully attracted significant FDI capital amounting to USD 6.5 billion, involving 160 secondary investment projects from renowned conglomerates such as Bridgestone, Idemitsu, Chevron, Knauf, and more.
With a strong infrastructure and a focus on developing an eco-industrial park, DEEP C is an ideal destination for businesses in various sectors, including electronic components, automotive, chemicals, renewable energy equipment, logistics, mechanical engineering, food, packaging, and many others.
2. Nam Dinh Vu Industrial Park (Size: 1.329 ha)
Nam Dinh Vu Industrial Park is located within the planned area of the tax-free zone, in Dong Hai 2 ward, Hai An district, Hai Phong City. The project was established according to the Official Letter No. 180/TTg/CN dated February 1, 2008, and later approved for expansion to a scale of 1,329 hectares.
The project is invested by Sao Do Investment Group Corporation, with a total investment capital of over VND 2,400 billion sourced from diverse multi-sectoral investment projects, including mechanical engineering, manufacturing of new materials, electrical equipment, electronic components, computer components, logistics and warehousing, support industries, and light industries, among others.
3. Yen Phong II Industrial Park (Size: 1200 ha)
According to the initial plan in Decision No. 1107/QD-TTg dated August 21, 2006, by the Prime Minister of the Government, Yen Phong II Industrial Park was originally planned with an area of 300 hectares. However, the project was later approved for adjustment to become Yen Phong II Industrial-Urban-Service Complex, with a total area expanded to 1,200 hectares on June 28, 2007.
Currently, Yen Phong II Industrial-Urban-Service Complex is planned to be divided into three zones: A, B, and C, with the following information:
- Yen Phong II-A IP (VND 1,800 billion) – Investor: Western Pacific Infrastructure Joint Stock Company.
- Yen Phong II-B IP (VND 2,358 billion) – Investor: VSIP Bac Ninh Limited Liability Company.
- Yen Phong II-C IP (VND 2,234 billion) – Investor: Viglacera Corporation – Joint Stock Company.
4. Song Khoai Industrial Park (Size: 714 ha)
The Song Khoai Industrial Park received investment approval from the Prime Minister of Vietnam according to Decision No. 352/QD-TTg dated March 29, 2018. This industrial park is planned to cover an area of up to 714 hectares and is located within the administrative boundaries of Quang Yen town, including the Song Khoai, Minh Thanh, Dong Mai, and Cong Hoa wards and communes.
The project is being carried out by Amata Ha Long Urban Development Joint Stock Company, a subsidiary of the Amata Group. The total registered capital for the implementation of this project amounts to over VND 3,500 billion (equivalent to USD 155 million). The construction plan for the Song Khoai Industrial Park has been divided into 5 phases and is expected to be completed by 2026.
As of the end of 2023, Song Khoai Industrial Park has completed the construction and leasing of Phase 1, featuring several noteworthy projects. The most prominent among them are the Jinko Solar 1 and 2 Silicon Plate Technology projects with a total investment value of over USD 800 million. Additionally, the industrial park is welcoming another project from AUTOLIV Vietnam Limited Liability Company, with a value exceeding USD 150 million.
5. Yen Binh Industrial Park (Size: 693 ha)
Yen Binh Industrial Park was approved for establishment on October 15, 2012, according to the Prime Minister’s Decision No. 1645/TTg-KTN, covering an area of 200 hectares in Thai Nguyen province. This industrial park was further approved for expansion by an additional 200 hectares on June 12, 2014.
The infrastructure of Yen Binh Industrial Park is invested in and managed by Yen Binh Investment and Development Corporation. Yen Binh Industrial Park focuses on attracting high-tech and clean industries, such as the production of semiconductor electronic components and automation equipment.
Currently, Yen Binh Industrial Park has achieved an occupancy rate of 92%, hosting over 30 investment projects with a total registered capital of over USD 7.92 billion. Prominent investors in this park include Samsung Electronics Vietnam Thai Nguyen Co., Ltd., Hansol Electronics Vietnam Co., Ltd., and many other investors from South Korea and China.
The Central region: This region is known for its significant economic potential in sectors such as renewable energy, processing, and consumer goods manufacturing. Here is a list of the 5 largest industrial parks in the Central region based on scale:
6. Becamex Binh Dinh Industrial Park (Size: 1374 ha)
Becamex VSIP Binh Dinh Industrial Park, with a total planned area of 1,425 hectares, is being developed by the Becamex IDC Corporation and VSIP. The project is expected to attract approximately USD 2 billion in investment capital from both domestic and international sources in the industrial manufacturing sector after the completion of the entire infrastructure.
7. Nhon Hoi Industrial Park (Size: 630 ha)
Nhon Hoi Industrial Park – Zone A is invested in and developed by SNP Corporation. This industrial park covers an area of 630 hectares and is located on the Phuong Mai Peninsula in Quy Nhon City, Binh Dinh province. On May 8, 2019, this industrial park transformed to become Nhon Hoi A Urban Industrial Park.
With a total area of 394 hectares, Nhon Hoi A is planned as a multi-sector industrial park. The industries attracting investments here include pharmaceuticals, food processing, agro-forestry-fishery processing, high technology, textiles, motorbike and automobile assembly, plastics, and various other supporting industries.
At present, Nhon Hoi A Industrial Park has gathered 15 projects with a total value of USD 357 million. Secondary investors here primarily come from China, Singapore, and Japan.
8. Lan Son Industrial Park (Size: 537,3 ha)
Lam Son Sao Vang Industrial Park was officially approved on April 14, 2016, according to Decision No. 1285/QD-UBND, with an initial scale of 537 hectares. This industrial park is located in the administrative areas of two communes, Xuan Phu and Xuan Thang (Tho Xuan district), and Tho commune (Trieu Son district), Thanh Hoa province. It is expected that by 2030, the industrial park will expand an additional 130 hectares to the west, bringing the total area to 667.3 hectares.
Lam Son Sao Vang Industrial Park aims to attract investments in high-tech food processing, aircraft maintenance, repair and operation, electronic equipment manufacturing and assembly, household appliance manufacturing, automotive parts, and transportation equipment, along with some other industries.
Currently, the industrial park has welcomed several secondary investors to its operations, including Lam Son Sugar Factory, COLOR PLUS VIETNAM, and Kachay Global Development (USA).
9. Du Long Industrial Park (Size: 407,3 ha)
Du Long Industrial Park was established in 2007 under Decision No. 3848/QĐ-UBND by the People’s Committee of Ninh Thuan Province. The project is planned over a total area of 407.28 hectares, located in the territories of Loi Hai and Bac Phong, Thuan Bac district, Ninh Thuan province.
After several years of delays and changes in ownership, Du Long Industrial Park officially began constructing its infrastructure and attracting investments in 2021, following its acquisition by Hoang Thanh Du Long Industrial Park Investment Joint Stock Company.
Just one year after officially commencing operations, Du Long completed its entire infrastructure, attracted investment capital of over VND 1,000 billion, and welcomed 5 enterprises to its premises. This appeal stems from five main factors:
- Strategic Location: Positioned at the heart of the South Central Coast economic triangle, Du Long boasts strong inter-provincial and regional trade connections through an integrated network of highways, railways, seaports, and international airports.
- Reputable and Experienced Investor: Hoang Thanh Du Long Industrial Park Investment Joint Stock Company, with 19 years in the real estate sector, brings a wealth of experience in managing industrial parks like Khai Quang (Vinh Phuc), Chau Son (Ha Nam), and Song Lo II (Vinh Phuc).
- Complete Infrastructure: Du Long has achieved 100% infrastructure completion, making it one of the 13 industrial parks in Vietnam that meet the production requirements of specialized industries.
- Clear Development Orientation: Du Long is among the few industrial parks in Vietnam that pursue a strategy of interlinking and establishing in-zone supply chains tailored to specific industries.
- Attractive Investment Incentives: Businesses investing in Du Long benefit from four major investment incentives as per Ninh Thuan province’s policies, including corporate income tax exemption, VAT exemption, import tax exemption, and other incentives based on the investment sector.
Du Long is set to continue attracting investments from enterprises involved in processing raw materials and material handling, such as wool scouring, yarn spinning, fabric weaving, etc., to establish a comprehensive textile and garment supply chain within the industrial park.
If you are interested in the services and investment incentives at Du Long, please reach out to our consulting team at the hotline at 096.230.5757 for assistance, or visit our website at https://dulongip.vn/ for more information.
10. Phu Tai Industrial Park (Size: 345,80 ha)
Phu Tai Industrial Park was established under Decision No. 1127/QĐ-TTg on December 18, 1998, spanning the areas of Tran Quang Dieu and Bui Thi Xuan wards in Quy Nhon city. The total planned area of this project is 345.8 hectares.
Currently, Phu Tai Industrial Park is home to 79 operating enterprises, primarily engaged in processing and manufacturing sectors such as agricultural and forestry product processing, paint, stone, rubber, packaging, warehousing, building materials, footwear, mechanics, and several other industries.
The Southern region: The South has always been a hotspot for industrial real estate, boasting numerous large-scale industrial parks (IPs) with fully invested infrastructure. Below are the TOP 5 largest IPs in the South, ranked from largest to smallest in scale.
11. Sonadezi Chau Duc Industrial Park (Size: 2287 ha)
Spanning a total area of 2,287 hectares, the Sonadezi Chau Duc Golf Industrial Park is the largest industrial-urban-service complex in Ba Ria – Vung Tau. This industrial park was established under Decision No. 2532/QĐ-UBND in October 2018, located in Nghia Thanh and Suoi Nghe communes, Chau Duc district. The project is invested and managed by Sonadezi Chau Duc Joint Stock Company.
Prominent investment projects in this industrial park include Taiwanese sportswear and garment manufacturing plants, Korean raw material and energy production projects, and diverse ventures from various other countries.
12. My Phuoc 3 Industrial Park (Size: 2280 ha)
My Phuoc 3 Industrial Park is a large-scale project covering 2,280 hectares, established in 2007 by the Becamex IDC Corporation. The project is located in Thai Hoa ward, Ben Cat town, Binh Duong province.
As of 2023, this project has attracted a total investment of over VND 1,000 billion from foreign enterprises from countries like South Korea, Japan, the USA, and others. These investments span various industries including electronics, household appliances; automobile and motorcycle manufacturing and assembly; garment production, and food processing.
13. Phuoc Dong Industrial Park (Size: 2191,97 ha)
Phuoc Dong Industrial Park is strategically planned within the Go Dau district and Trang Bang town, Tay Ninh province. This industrial park is part of the Phuoc Dong – Boi Loi Industrial-Urban-Service Complex project, which spans a total of 2,838 hectares, with 2,190 hectares dedicated to industrial purposes.
The project is invested by Saigon VRG Investment Corporation (a subsidiary of the Vietnam Rubber Group) with an initial investment capital of approximately USD 350 million. With its vast land bank, modern infrastructure, convenient connectivity, and attractive incentive policies, Phuoc Dong Industrial Park has drawn over USD 6 billion in investment, primarily from enterprises in China, Taiwan, and South Korea.
14. Becamex Binh Phuoc Industrial Park (Size: 1993 ha)
The Becamex – Binh Phuoc Industrial Park project is one of the key industrial parks in Binh Phuoc province. The project’s planning was approved on December 22, 2008, under Decision No. 2793/QĐ-UBND, covering an area of 1,993 hectares in Chon Thanh district.
Becamex Binh Phuoc Industrial Park is oriented to become a multi-sector industrial park, encompassing industries such as electrical appliances, electronics, informatics, information technology, and the processing of food, agricultural, and forestry products. After four years of investment promotion, the industrial park has attracted 49 FDI projects, with a total investment capital of over USD 1 billion from investors in South Korea, Japan, and Hong Kong.
15. Hiep Phuoc Industrial Park (Size: 1686 ha)
Hiep Phuoc Industrial Park is the largest industrial park in Ho Chi Minh City, covering an area of 1,686 hectares. Established in 1996 in Nha Be district, the park was developed with a multi-industry orientation.
After more than 25 years of development, Hiep Phuoc Industrial Park has successfully attracted over 200 secondary investors from countries such as South Korea, Singapore, Japan, Malaysia, China, India, and other Asian nations. The total investment capital in the park has reached the milestone of USD 2.2 billion.
The current industrial land allocation of this industrial park includes 21% for the mechanical manufacturing and telecommunications electronics industry, 11% for construction material production, and 10% for the food processing industry, along with other sectors such as paper, plastics, chemicals, pharmaceuticals, ports, and logistics.
The development of industrial parks in Vietnam has seen significant growth in recent years. In the first six months of the year, foreign direct investment (FDI) in the manufacturing and processing sector reached 8.4 billion, according to the General Statistics Office. The majority of FDI comes from Asian investors, notably from South Korea, Japan, and Singapore.
Thanks to low production costs, favorable geographical location, and government investment incentives, industrial parks in Vietnam hold great potential for future development. To stay updated on the development of the industrial park market in Vietnam, don’t forget to visit https://dulongip.vn/ for the latest information on government policies and investment incentives!
