INDUSTRIAL PARK INDUSTRIAL PARKS OF VIETNAM
The Northern Region of Vietnam consists of 25 provinces and cities. The total area of industrial land in five key provinces including Hanoi, Hai Phong, Bac Ninh, Vinh Phuc and Hung Yen is about 10,000 hectares. Industrial parks operated mainly by domestic corporations. There are also a number of foreign investors entering the market very early from Singapore, Taiwan and Japan.
Although the industrial market in the North was established later than in the South, the industrial provinces here are very attractive for advanced high-tech industries. Most industrial park projects have been filled stably with an average rate of about 80%.
The average rental price of industrial park land reached 109 USD/m2/lease term, in which, the average industrial land rental price in Hanoi is still the highest compared to the northern provinces, reaching 139.9 USD/m2/lease period.
With a comprehensive and synchronously developed transportation network including the main transport systems such as sea, rail, road and air. Creating favorable conditions for the Northern region to easily connect with other provinces throughout Vietnam and Asian countries.
With its proximity, incentives from the Government, competitive labor costs, stable political environment, positive economic outlook and free trade agreements have been signed. The northern industrial market is a bright choice for global manufacturers wishing to expand their factories outside of China.
The northern industrial market 'shines' thanks to the focus on investment in education and synchronous development infrastructure. However, currently, the industrial market lacks industry diversity and focusing resources on only a few large corporations can lead to the risk of labor shortages and opportunities to attract investment capital from other enterprises in the same industry.
Contact: 0946 522 847 (Ms. Michelle) for knowing more information about industrial real estate in the North.
(Source: Vietnam Industrial Park Forum 2022)