The industrial real estate market in Hai Phong , Quang Ninh, and Hung Yen: Attractive and vibrant.
The approved provincial and regional planning for the period 2021-2030, with a vision to 2050, creates great opportunities for localities to build and develop industrial parks and economic zones, increasing their attractiveness to investors.
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| The Song Khoai Industrial Park (Amata City Ha Long) in Quang Yen town, Quang Ninh province, covers an area of 714 hectares and has so far attracted 19 FDI projects with a total investment of 2.9 billion USD. |
Specifying the plan
Quang Ninh is the first locality in the Red River Delta region to have its provincial planning for the period 2021-2030, with a vision to 2050, approved by the Prime Minister. According to Mr. Nguyen Xuan Ky, Secretary of the Quang Ninh Provincial Party Committee, this is an important guideline for Quang Ninh to identify its values and opportunities in the development process in the new phase.
To attract all investment resources and effectively exploit its potential and advantages, Quang Ninh focuses on developing key economic zones (EZs). Specifically, the province is building and developing the Quang Yen coastal EZ into a new growth engine in the western region; developing the Van Don EZ into a center for entertainment and cultural industries, with casinos, high-end island and coastal tourism, and world-class comprehensive services with a synchronized socio-economic infrastructure system; and developing the Mong Cai border gate EZ into one of the dynamic and sustainable economic growth poles of the province and the Northeast region, an important economic development center of the coastal economic belt of the Gulf of Tonkin.
Quang Ninh province will allocate 6,589.03 hectares of land to develop eight new industrial parks (IPs). The goal is to have 23 IPs in the province by 2030, with a total area of approximately 18,842 hectares, of which about 5,904 hectares will be utilized by 2030. Currently, the province has 16 IPs, including those already operational, those under construction, and those currently undergoing planning studies and investor selection.
Recently, the Quang Ninh Provincial People's Council issued a Resolution approving the General Planning for the construction of the Bac Phong Sinh Border Gate Economic Zone until 2045. This economic zone is planned with a focus on developing trade, services, tourism, and processing industries; closely linked with the Hai Ha Industrial Park and seaport to form a hub for the collection, transshipment, and import/export of goods and services. The Bac Phong Sinh Border Gate Economic Zone, along with the Hoanh Mo - Dong Van Border Gate Economic Zone, will support the Mong Cai Border Gate Economic Zone, ensuring continuity, maintaining ongoing operations, and promoting the development of border gate economic zones.
For Hai Phong – a city with all five major transportation systems and a seaport – the "Hai Phong City Planning for the period 2021-2030, with a vision to 2050, helps Hai Phong find the most effective path to innovation and development," as stated by Deputy Prime Minister Tran Hong Ha at the Conference announcing the Hai Phong City Planning.
The plan will open up new opportunities and development spaces to transform Hai Phong into a major seaport city in the region and the world with three pillars of development: seaport services and logistics; green, smart, and modern industry; and an international marine tourism center, achieving a high level of development among leading cities in Asia and the world.
Hai Phong currently has one economic zone, the Dinh Vu – Cat Hai Economic Zone, with an area of 22,540 hectares and an occupancy rate of nearly 80%. Of the 14 operating industrial parks with a total area of over 6,080 hectares, 9 are located within the Dinh Vu – Cat Hai Economic Zone and 5 are located outside the economic zone.
According to the plan, Hai Phong will establish 20 new industrial parks with a total area of approximately 7,700 hectares. The city is also promoting the planning and establishment of a 20,000-hectare Southern Economic Zone, complete with infrastructure including an airport, seaport, free trade zone, industrial center, urban area, and logistics center to attract more investors to Hai Phong.
On July 16th, the Hai Phong Economic Zone Management Board submitted documents to the Ministry of Planning and Investment for appraisal and presentation to the Government for approval of the investment policy for 5 new industrial parks with a total area of 1,793.9 hectares, including the following industrial parks: Nam Trang Cat, Thuy Nguyen, Trang Due III, Giang Bien II, and Vinh Quang – Phase I.
In particular, Hai Phong is one of the three localities selected as pilot locations for developing a green development plan nationwide.
Hung Yen province also held a conference on July 7, 2024, to announce the Hung Yen Provincial Planning for the period 2021-2030, with a vision to 2050. Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that the plan highlights the unique and outstanding characteristics of Hung Yen compared to surrounding provinces, thus ensuring development that is not overlapping but interconnected and mutually supportive.
Specifically, Hung Yen province has 35 industrial parks planned for development, with a total area of 12,048.63 hectares. Of these, 30 new industrial parks with a total area of 9,183.53 hectares are planned for development by 2030, and 4 existing industrial parks with a total area of 405.1 hectares are planned for expansion. The total planned land area for industrial park development is 9,588.63 hectares. After 2030, 5 new industrial parks with a total area of 2,460 hectares are planned for development.
It is clear that approved provincial and regional planning schemes serve as a foundation for the development of economic zones and industrial parks. This presents an opportunity for the development of the industrial real estate market in these localities, both currently and in the future.
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Leverage to attract investment is increasing rapidly.
Along with the overall planning, prioritizing investment in infrastructure development plays a crucial role in attracting domestic and foreign investment.
With its strategic location as the main gateway to the sea for the entire northern region, Hai Phong plays a particularly important role in the development of the Northern Key Economic Zone. In particular, Hai Phong holds a crucial position in the "Two Corridors - One Economic Belt" cooperation between Vietnam and China, and has strategic ties with major growth poles in East Asia and Southeast Asia. Leveraging this advantage, the city has invested in a comprehensive and modern transportation infrastructure system including expressways, international seaports, international airports, and railways.
Not stopping there, Hai Phong continues to upgrade and build many new facilities to become an international logistics center. Last year, the city focused on implementing several key projects such as: passenger terminal No. 2 and cargo terminal at Cat Bi International Airport; Lai Xuan bridge; renovation and expansion of provincial road 352; and port projects No. 3-4 and No. 5-6 belonging to the Lach Huyen international port system. Currently, the Lach Huyen deep-water port plays a role in promoting industrial production development in the region thanks to its direct connection with key industrial parks.
In the first half of 2024, Hai Phong attracted 54 newly registered FDI projects and 24 FDI projects with increased capital, totaling over US$1.1 billion. As of June 20, 2024, Hai Phong had 1,165 active projects with a total investment capital of US$29.59 billion.
According to Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, as of the end of June 2024, the Board had completed its assigned FDI attraction target for the entire 2021-2025 term, reaching US$12.56 billion out of US$12.5 billion.
In recent times, the increased public investment has greatly benefited the industrial real estate market. In Hung Yen, the successful development of the road connecting the Hanoi-Hai Phong Expressway and the Cau Gie-Ninh Binh Expressway through Hung Yen province has breathed new life into the local industrial real estate market. Along this route, several industrial parks and clusters have been built and their infrastructure completed, such as: Industrial Park No. 5, An Thi Industrial Park, Clean Industrial Park, Industrial Park No. 3, and the Pham Ngu Lao - Nghia Dan Industrial Cluster.
Taking advantage of being the first locality to have its provincial planning approved by the Prime Minister, Quang Ninh has prepared well the necessary conditions, especially land clearance, infrastructure, and human resources, to attract multinational corporations and large enterprises with modern technology to invest in the province. These timely policy decisions have built confidence among investors. As a result, in 2023, Quang Ninh attracted US$3.11 billion in FDI, a 42.3% increase compared to 2022, making it one of the localities attracting the largest amount of FDI nationwide.
![[Photo] Prime Minister Pham Minh Chinh presides over a dialogue with Japanese businesses.](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2026/03/21/1774097547316_ndo_br_dsc-0448-jpg.webp)
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