Industrial real estate prospects in Nghe An

Attraction from large industrial zones

A typical example in Nghe An is VSIP Nghe An Industrial Park, with an area of 750 hectares, which has attracted 55 investment projects, including 34 FDI projects. The total registered investment capital here has exceeded 2 billion USD, and the occupancy rate is currently 97% - a figure that shows the high level of interest from domestic and foreign manufacturing enterprises.

VSIP Industrial and Urban Service Park. Photo: Thanh Cuong

In addition, the WHA Industrial Zone 2 - Nghe An Project, with an area of over 183 hectares and a total investment of VND 1,200 billion in Nghi Hung and Nghi Dong communes (Nghi Loc), has just been approved by the Government for investment policy. This project is expected to create more development momentum for the province's southeastern industrial corridor.

In the first 4 months of 2025, Nghe An attracted an additional 7,455.5 billion VND of newly granted and adjusted capital, of which foreign direct investment (FDI) reached 122.4 million USD. Nghe An approved investment policies for 16 projects, adjusted 54 projects, with a total newly granted and increased investment capital of 7,455.5 billion VND.

Notably, the province has completed procedures and granted an investment policy decision for VSIP Nghe An 3 Industrial Park Project with a total registered capital of 52.5 million USD, promising to create a great driving force for attracting investment in the coming time.

According to the Nghe An Provincial Tax Department, total domestic revenue in 2024 reached VND 23,703 billion, exceeding the estimate by 163% and increasing by 18% over the same period last year. In the first 4 months of 2025, Nghe An's budget revenue was quite good. Notably, among these, enterprises operating in the fields of industrial real estate and industrial park infrastructure play an important role.

Specifically, VSIP Nghe An Company Limited, the investor of VSIP Nghe An Industrial Park in Hung Nguyen district, paid more than VND 1,260 billion to the budget in 2024, becoming one of the enterprises with the largest contribution in the province.

Meanwhile, Hoang Mai I Industrial Park, with an area of 264.77 hectares, located in Hoang Mai town, in the Southeast Nghe An Economic Zone, has a strategic location along National Highway 1A, conveniently connecting to seaports, railways and airports, creating favorable conditions for production and logistics activities. As of April 2025, the occupancy rate of the Industrial Park reached 82%.

Chart of occupancy rate of Hoang Mai I Industrial Park, Nghe An. Graphics: Hong Toai

Several large FDI projects have been implemented in Hoang Mai Industrial Park, including: Juteng Group (Taiwan): Investing 200 million USD on an area of 120 hectares; Runergy PV Technology Co., Ltd. (Thailand) investing 400 million USD on an area of 30 hectares; Hoa Loi Technology Co., Ltd. investing 56 million USD on an area of 13.9 hectares.

Thanh Yen — New factories in Hoang Mai I industrial park. Photo: Tran Chau

Hoang Mai I Industrial Park is equipped with a modern internal traffic system, electricity, water, and wastewater treatment systems that meet international standards. In addition, the industrial park also has support services such as banks, post offices, and customs to meet the needs of businesses.

Hoang Mai II Industrial Park has an area of 334.79 hectares, expected to attract many domestic and foreign investors, especially enterprises from China, UK and India, thanks to its large land fund and synchronous infrastructure, promoting industrial real estate and logistics and entertainment projects.

Expansion planning and preferential policies

According to the industrial development plan for the 2021-2030 period, Nghe An will have 15 industrial parks in the Southeast Economic Zone, with an area of 8,056 hectares by 2030 and increasing to 14,117 hectares after 2030. In addition, there are 8 industrial parks outside the economic zone, with an expected area of 1,509 hectares by 2030 and increasing to 3,659 hectares after this milestone.

Transporting goods through Cua Lo Port. Photo: Chau Lan

Nghe An has also implemented many policies to attract investment, typically supporting shipping lines to transport international and domestic containers to Cua Lo Port, reducing logistics costs for businesses. In 2024, Nghe An supported shipping lines transporting containers with more than 20 billion VND. This is considered one of Nghe An's important competitive advantages in attracting industrial capital flows.

In the first 4 months of 2025, Nghe An continued to affirm its position as an attractive destination for investors in the industrial real estate sector, thanks to infrastructure development, investment capital attraction and stable economic growth.

In the first 4 months of 2025, the industrial and construction sector in Nghe An grew strongly. The processing and manufacturing industry continued to be the main driving force, increasing by 19.6%.

Key projects such as the national coastal road and the upgrading of Vinh Airport to an international airport are creating more convenient connections between Nghe An and neighboring areas and internationally. In particular, the North-South Expressway section through Nghe An has been completed, significantly shortening travel time to Hanoi and Ho Chi Minh City.

Demand for housing for workers, experts and services increases accordingly.

A Korean director who manages and operates an electronic components manufacturing company in the Southeast Economic Zone said: His company has been operating in Nghe An for more than 10 years. Currently, he and his colleagues are having to rent luxury apartments in Vinh city because it is far away and takes a lot of time to travel. However, Nghe An still lacks entertainment areas for foreigners such as Koreans, Japanese, etc.

If Nghe An develops industrial real estate infrastructure along with suitable living conditions, it will create favorable conditions for investors in the process of working and doing business in Nghe An, ensuring the needs of enjoyment after hard working hours.

Mr. Le Tien Tri - Member of the Provincial Party Committee, Director of the Southeast Economic Zone Management Board said: Nghe An's supply is now ready to welcome investors. Currently, there are 600 hectares ready to welcome businesses and factories.

Vsip worker housing — High demand for housing for workers and experts in urban areas in Nghe An. Photo: Tran Chau

Currently, the rapid development of industrial parks has led to a strong demand for housing for workers and foreign experts from China, Taiwan, Japan, etc. Real estate types such as social housing, satellite urban areas, housing for experts, as well as logistics and commercial services adjacent to industrial parks have begun to take shape. In some areas in VSIP Nghe An Industrial Park or the Southeast of the province, some housing projects for foreign experts have been invested in. VSIP Urban Area has not been opened for sale but has also attracted the attention of the people.

With a strategic location at the center of the North-South axis, connecting the North Central region and the economic triangle of Hanoi - Laos - Vientiane, Nghe An is converging favorable factors to develop into a large-scale industrial and logistics center. Multinational corporations from Taiwan, Korea, China, Japan... are continuously surveying and expanding investment in this locality.

The resonance between systematic planning, synchronously invested infrastructure, preferential policies and large market demand is the foundation that helps Nghe An industrial real estate have the potential to make a breakthrough in the long term.

Source: https://baonghean.vn/trien-vong-bat-dong-san-cong-nghiep-o-nghe-an-10297193.html