HIGHLIGHTS OF INDUSTRIAL MARKET
Vietnam: Vietnam’s E-Commerce industry has grown by 18%
According to predictions by Google, Temasek and Bain & Company, this year, the size of Vietnam’s e-commerce market is estimated to reach 22 billion USD, ranking 3rd in Southeast Asia. In the region, the size of Vietnam’s e-commerce is currently behind Indonesia (65 billion USD) and Thailand (26 billion USD). Compared to 2023, the e-commerce industry has grown by 18%, the 3rd fastest rate in the region after the Philippines (23%) and Thailand (19%).
Vietnam: Digital Economy and Data Centers – New Opportunities for Industrial Real Estate
s the digital economy spreads across Asia, Vietnam is emerging as an important market for data centers. Valued at USD 685 million in 2023, the data center market is expected to reach USD 1.4 billion by 2029, driven by rising demand for cloud computing, 5G and IoT. The Government’s Digital Transformation Program aims for 50% of businesses to operate digitally by 2025, affirming Vietnam’s commitment to building the country into a digital hub.
Vietnam: Semiconductor Manufacturing Shifts to Vietnam
he global semiconductor industry is transforming rapidly and Vietnam is emerging as a promising destination for chip investors. With billion-dollar investments from “big guys” such as Amkor, Hana Micron, and Intel, Vietnam is gradually asserting its position on the global technology map, opening up opportunities to become a strategic chip design and manufacturing center in Asia. Vietnam has the opportunity to become an “R&D center” for large companies such as Alchip Technologies and BOS Semiconductors.
Vietnam: Becoming a leader in the global manufacturing shift trend
According to data from S&P Global Market Intelligence (USA), Vietnam has surpassed Mexico to become the leader in the “nearshoring” trend. More than 35%of Vietnamese companies recorded an increase in demand from multinational manufacturers in the past year. This is different from Mexico where only 15% of companies in this country recorded a similar increase. The survey conducted in May 2024 shows that Vietnam is increasingly attractive to international businesses.
Vietnam: Outstanding Industrial Real Estate M&A Deals in 2024
In the first 9 months of 2024, industrial real estate M&A accounted for 91% of the total transaction value of 178 million USD. Notably: Mapletree Logistics spent more than 50 million USD to acquire 2 Class A Warehouses in Binh Duong & Hung Yen. Daiwa House Logistics completed the acquisition of D Project Tan Duc 2 (Long An). VNG Corporation and ST Telemedia Global Data Centres announced cooperation in the construction and operation of international standard data center projects in HCMC…
Ho Chi Minh: Increase 800 hectares of Industrial Park land to attract large projects
HCM City People’s Committee has assigned the HEPZA to advise and propose solutions to form an additional 800 ha of industrial land including: Hiep Phuoc Industrial Park Phase 2, Le Minh Xuan Industrial Park Expansion, Le Minh Xuan 2 IP and Pham Van Hai Industrial Park. At the same time, complete and submit to the HCM City People’s Committee a pilot project to convert 05 export processing zones and industrial parks: Tan Thuan, Tan Binh, Cat Lai, Binh Chieu, Hiep Phuoc.
Ho Chi Minh: Approval of adjustment of investment policy for Nipro factory project
The Management Board of HCMC High-Tech Park has just issued a decision approving the adjustment of investment policy and approving the investor of the Nipro Vietnam Factory Project in the High-Tech Park. According to the adjustment decision, the capital contribution progress of project will be carried out in stages. The total capital contribution progress until 2032 is 570 million USD. The second adjustment is to adjust the project implementation progress for the goal of producing blood filters.
Hanoi: There will be three more Industrial Parks of over 600 hectares
Recently, the Hanoi People’s Council approved the planning task of building 03 Industrial Parks (IP) in Thuong Tin and Soc Son with a total area of about 635 ha. Accordingly, Bac Thuong Tin IP has a scale of about 137 ha, located in Thuong Tin district. The second project is Phung Hiep IP of nearly 175 ha, belonging to 4 communes of Thuong Tin district. The third project is Soc Son IP with a planning area of 324 ha, belonging to Tan Dan and Minh Tri communes, Soc Son district.
Hanoi: Thanh Van – Tan Uoc Industrial Cluster construction started
On November 4, Constrexim No. 1 Joint Stock Company started construction of Thanh Van – Tan Uoc Industrial Cluster, with a total investment of over VND1,000 billion in Thanh Oai District (Hanoi). The project is deployed on an area of 52 hectares, oriented as a multi-industry Cluster, focusing on high-tech, supporting industry and clean production. It is expected that when put into operation, the project will attract over 100 enterprises, creating jobs for about 3,000-5,000 workers.
Binh Duong: There will be nearly 3,000 ha of additional industrial park land
inh Duong Provincial People’s Committee has just issued Decision No. 2973/QD-UBND approving the planning project for the construction of 18 clusters and 4 industrial parks with a total area of nearly 3,000 ha in Phu Giao district. Accordingly, 4 industrial parks with a total area of 2,800 ha include: Vinh Lap IP with an area of 750 ha; Phu Giao 1 IP with an area of 550 ha; Phu Giao 3 IP with an area of 500 ha; Phu Giao 4 IP with an area of 1,000 ha.
Binh Duong: Planning of Dat Cuoc Industrial Park 523 hectares
Binh Duong Provincial People’s Council has just issued a Resolution on the General Construction Planning Project (scale 1/5,000) of Dat Cuoc Industrial Park. Accordingly, the planning area is located in Dat Cuoc Commune, Bac Tan Uyen District with a planning area of over 523 ha. The development orientation is towards concentration, multi-industry with types of industry attracting investment projects with industries in line with the socio-economic development orientation of the province.
Quang Ngai: 3,800 billion VND Industrial Park Coming Soon
According to recent information, the VSIP II Quang Ngai Industrial Park Project (Phase 1) belongs to Dung Quat Economic Zone, located in the two communes of Binh Thanh and Vinh Hiep, Binh Son district. It is located about 23 km from Dung Quat port and 33 km from Chu Lai airport to the North. The project has a total area of nearly 498 ha and expected to be put into operation, calling for investment as well as handing over land to secondary project owners from the Q4/2025.
Quang Binh: Approval of investment policy for infrastructure of Cam Lien Industrial Park
On November 15, the Deputy Prime Minister signed Decision No. 1388/QD-TTg approving the investment policy of Cam Lien Industrial Park Project; at the same time, approving the investor, Capella Quang Binh Investment Company Limited. The project is implemented in Cam Thuy, Thanh Thuy and Ngu Thuy Bac communes, Le Thuy district, Quang Binh province. The total area of the project is about 450 hectares, of which more than 255 hectares of forest land need to be converted to other purposes.
Ha Nam: Approval of investment in Dong Van VI Industrial Park
On November 19, Deputy Prime Minister Tran Hong Ha signed Decision 1426/QD-TTg on the investment policy for the project to build and operate infrastructure of Dong Van VI Industrial Park; at the same time, he approved Ha Nam International Port Joint Stock Company as the investor of the project. The project will be implemented in Tien Ngoai, Yen Nam and Tien Son communes, Duy Tien town, Ha Nam province with an area of 250 hectares, with a total investment capital of VND 2,975,581 billion.
Ha Nam: Approval of investment in Thanh Binh II Industrial Park
On November 19, Deputy Prime Minister Tran Hong Ha signed Decision 1425/QD-TTg on the investment policy of the Thanh Binh II Industrial Park Project – Phase I; at the same time, the investor of the project is Thanh Binh Industrial Park Infrastructure Development Investment Company Limited. The project is implemented in Thanh Nguyen and Thanh Hai communes, Thanh Liem district, Ha Nam province, with a scale of 226.6 hectares, with a total investment capital of VND 2,610,423 billion.
Thanh Hoa: Approval of investment in WHA Smart Technology Industrial Park
Deputy Prime Minister Bui Thanh Son has just signed Decision No. 1431/QD-TTg dated November 19, 2024 approving the investment policy of the project to invest in construction and business of infrastructure of WHA Smart Technology Industrial Park. The land use scale of the project is 178.51 hectares. The project is located in the communes of Hoang Quy, Hoang Quy, Hoang Xuyen and Hoang Cat, Hoang Hoa district, Thanh Hoa province. The total investment capital of the project is 1,320 billion VND.
Yen Bai: Viglacera invests nearly 2,200 billion VND in Industrial Park
Deputy Prime Minister Tran Hong Ha has just signed a decision on the investment policy for the project to invest in the construction and business of infrastructure of Tran Yen Industrial Park (phase I). Accordingly, the project will be implemented in Bao Hung and Minh Quan communes, Tran Yen district, Yen Bai province with a scale of more than 254 hectares. The total investment capital of the project is nearly 2,200 billion VND. The investor is Viglacera Corporation.
Ha Tinh: Approval of investment in Gia Lach Expansion Industrial Park
Deputy Prime Minister signed Decision No. 1468/QD-TTg dated November 25, 2024 on investment policy for the project to invest in construction and business of infrastructure of Gia Lach expansion Industrial Park ; at the same time, approving the investor as Thang Long Import-Export Investment JSC. It is implemented in Xuan An town, Xuan Vien commune, Nghi Xuan district, Ha Tinh with a scale of 194.36 ha. The total investment capital of the project is 2,265.268 billion VND.
Bac Giang: Approval of investment in Hoa Yen Industrial Park project
Deputy Prime Minister signed Decision No. 1462/QD-TTg dated November 25, 2024 on the investment policy of the Hoa Yen Industrial Park infrastructure construction and business investment project; at the same time, the investor of the Project is Fecon Hoa Yen JSC. It has a scale of 256.68 ha with an investment of VND 3,745.131 billion. It is implemented in Dong Lo commune, Hiep Hoa district and Tien vn/ Son, Trung Son, Huong Mai communes, Viet Yen town, Bac Giang province.
Bac Giang: Foxconn to invest another $80 million in Bac Giang to produce chips
Foxconn’s Shunsin Vietnam Technology Co., Ltd. is applying for an environmental license for an $80 million investment project in Bac Giang to produce and process chips. The project is scheduled to start a trial run in June 2026 and officially operate in December 2026. The project has a total planned area of 44,343.8 m2 in Quang Chau Industrial Park, Bac Giang province, which is leased by the project owner from Saigon – Bac Giang Industrial Park Joint Stock Company.
Thai Binh: Yuan Long invests in ceiling fan factory
On November 14, at Lien Ha Thai Industrial Park, Yuan Long Vietnam Co., Ltd. signed a land lease contract with Green i-Park Joint Stock Company, marking the first step in the 120 million USD project to build a ceiling fan factory on an area of 15.6 hectares. When the factory comes into operation, it will focus on producing ceiling fans and ceiling fan accessories for export to Europe and America, with a revenue of 3,200 billion VND/year and creating jobs for about 4,500 workers.
Dong Nai: Approval of investment in Xuan Que – Song Nhan Industrial Park (phase 1)
On November 28, 2024, the Deputy Prime Minister signed Decision No. 1479/QD-TTg on the investment policy of the Xuan Que-Song Nhan Industrial Park infrastructure construction and business project (phase 1); at the same time, the investor of the Project is Xuan Que Industrial Park Joint Stock Company. The project has a scale of 1,000 hectares based on the project implementation location proposed by the investor and within the approved planning location in Dong Nai province’s planning.
Nam Dinh: Investment certificate granted to Trung Thanh Industrial Park
Nam Dinh Province Industrial Parks Management Board officially granted the investment registration certificate for the Trung Thanh Industrial Park project. This project is implemented by Nam Dinh Infrastructure Development Investment JSC with a scale of 200 ha in Trung Nghia commune, Y Yen district. The project will be basically completed and put into operation within 24 months from the date of land handover, with an expected operating period of 50 years from the date of investment approval.
Nam Dinh: Granting Investment Certificate for Aluminum Alloy Project of 90 Million USD
On November 28, Nam Dinh Management Board of IPs officially granted the Investment Registration Certificate for the project of producing Kim Kieu green aluminum alloy, high-grade 3C electronic materials and aluminum auto accessories. The project has a total investment of up to 90 million USD in My Thuan Industrial Park and is invested by Joint Wise Corporation (Hong Kong). It is expected to complete basic construction in the Q3/2027, conduct trial operations in the Q4/2027.
Hai Phong: Groundbreaking Ceremony for the Viet Phap Steel & Corrugated Iron Factory
On November 12, the groundbreaking ceremony for the construction of the 2nd Viet Phap Steel and Corrugated Iron Factory was held in Nam Dinh Vu Industrial Park, Hai Phong City. The factory has a total area of 75,000 sqm, with a total investment of nearly 45 million USD for phase 1; with a production capacity of up to 350,000 tons of steel and corrugated iron products per year. The project is invested by the Viet Phap Steel and Corrugated Iron Joint Stock Company.
Hai Phong: Granting investment certificates to 12 projects with 1.8 billion USD capital
On November 14, the People’s Committee of Hai Phong City granted investment registration certificates to 12 new and expanded investment projects in November 2024, with the total attracted investment capital increasing by 1.8 billion USD. Typical projects include: LG Group in Trang Due IP; Heesung Group’s project in Trang Due IP; DEEP C Hai Phong IP Complex; USI Group’s project in DEEP C IP Complex; Sembcorp Integrated Hub Hai Phong IV project in Nam Dinh Vu IP; ect.
Hai Phong: Groundbreaking ceremony for a warehouse & factory project
On November 19, at the Nam Dinh Vu Duty Free Zone and Industrial Park (Zone 1), Dong Hai 2 Ward, Hai An District, Hai Phong City, MV EARTH Limited Liability Company started the Logicross Hai Phong Project. The project has a total investment of over VND 1,328 billion with an area of over 150,968 sqm, providing up to 88,000sqm of factory space when put into operation. This is a key project, part of the economic development strategy of Hai Phong City.
Nghe An: Luxshare Group invests in 2 more projects
On November 22, the People’s Committee of Nghe An province granted investment licenses for the Luxshare – ICT and Luxshare – ICT 2 projects to Luxshare Group (China). To date, in Dong Nam Economic Zone, there have been 7 investment projects under the ecosystem of Luxshare Group. Of which, 2 projects are in operation with a workforce of about 11,600 people, 4 projects are completing construction and installation of machinery and equipment, 1 project is completing procedures…
Quang Tri: Investment in A&C International Packaging Factory Project
On November 26, the Quang Tri Economic Zone Management issued a decision approving the investment policy and approving the investor A&C International Packaging JSC for the A&C International Packaging Factory project. Accordingly, the project is located at Quan Ngang Industrial Park, Gio Linh District with an expected land area of 96,350 sqm. The total investment capital of the project is VND2,296.423 billion. It is expected that in the Q32027, commercial production for phase 1 will begin.
Da Nang: Da Nang High-Tech Park attracts another FDI project worth 177 million USD
On November 28, the Management Board of Da Nang High-Tech Park and Industrial Zones held a ceremony to hand over the Decision approving the investment policy for the ICT VINA III Factory project of Dentium Limited Company (100% Korean capital). The project has a total registered investment capital of 177 million USD. To date, Dentium Limited Company has invested in 3 projects in Da Nang High-Tech / Park with a total registered investment capital of 257 million USD.
Ninh Thuan: Granting Investment Certificate to FDI Textile and Garment Project
On November 28, Ninh Thuan Industrial Park Management Board granted the Investment Certificate for the Ninh Thuan Artificial Fur Factory Project to DM Textile Company Limited. The project will be built on an area of over 28,400sqm in Du Long IP with a total investment value of 139.7 billion VND. It is expected that the project will be put into operation from May 2025. The project with 100% FDI investment capital will bring new and environmentally friendly textile/fur production technology.
Binh Dinh: Singaporean Fashion group invests in $20 million factory
Binh Dinh Economic Zone Management Board has just certified investor HGQ ASIA PTE. LTD (Singapore) to implement the TnB Vietnam Fashion Products Factory with a total investment capital of VND495 billion. The project is deployed in Hoa Hoi Industrial Park (Cat Hanh Commune, Phu Cat District), with an area of 80,400 sqm. The project has a scale of 7,000,000 products/year, of which phase 1 is 1,500,000 products/year, phase 2 is 5,500,000 products/year.
Long An: German Group Invests in Another 30 Million Euro Factory
Dongtam Group and QuickPack Group (Germany) have officially signed a memorandum of understanding on investment cooperation to lease land in the Long An Southeast Asia Industrial Park. According to the agreement, QuickPack will lease 60,000 sqm of land to expand the factory, with a total investment of up to 30 million Euros. This is QuickPack’s largest factory producing packaging for the food industry in Southeast Asia.
Binh Thuan: Awarding investment registration certificates to 2 industrial projects
Binh Thuan province has just held a ceremony to award investment registration certificates to 2 projects. Accordingly, the Neotek Vietnam Industrial Factory Project with a registered investment capital of more than VND 2,200 billion will be implemented on an area of 13.238 ha in Ham Kiem II IP. And the factory producing natural wood flooring and interior products with a registered investment capital of more than VND 100 billion will be implemented on an area of 1.5 hectares in Tan Duc IP.
Nghe An: Mega Textile invests 590 million USD to build a textile factory
The Standing Committee of Nghe An Provincial Party Committee has just approved the investment policy of the Mega Textile – Vietnam Project in Tho Loc Industrial Park Phase 1 invested by Mega Textile Singapore Private Ltd. The total investment of the project is 590 million USD, the land lease area is 50.1 hectares. It is expected that phase 1 will be officially put into operation by Q2/2028; phase 2 will be officially put into operation by Q2/2030 and phase 3 will be officially put into operation by Q2/2034.
HIGHLIGHTS OF LOGISTICS MARKET
Vietnam: Approval of investment policy for North-South high-speed railway
On November 30, the National Assembly approved a resolution on investment policy for North-South high-speed railway project. Accordingly, the project has a total length of about 1,541km; starting point at Ngoc Hoi station (Hanoi), ending point at Thu Thiem station (HCMC); and passing through 20 provinces. The total land use demand of the project is approximately 10,827ha with a total investment of more than 67 billion USD. Strive to basically complete the project by 2035.
Vietnam: Long Thanh Airport Completion Deadline Postponed
On November 30, the National Assembly agreed to phase one of the construction of two runways in the north and a passenger terminal along with synchronous auxiliary items with a capacity of 25 million passengers/year and 1.2 million tons of cargo/year. The project implementation period was extended to December 31, 2026 at the latest to complete and put into operation. The Long Thanh International Airport covers an area of 5,000 ha, with a total estimated investment of about VND336,630 billion.
Vietnam: Approval of Ninh Binh – Hai Phong Expressway through Nam Dinh and Thai Binh
Recently, the People’s Committee of Thai Binh province approved the Ninh Binh – Hai Phong Expressway, in which the section through Nam Dinh and Thai Binh provinces will be invested under the PPP method. The proposed investor of the project is Geleximco Group. The total investment is more than VND 19,780 billion. It is expected to start construction in 2025 and be completed in 2027. The route is 60.9 km long. Of which, the section through Nam Din is 27.6 km, and the section through Thai Binh is 33.3 km.
Hai Phong: Groundbreaking ceremony for Cat Bi Airport Cargo Terminal
On November 16, Vietnam Airports Corporation coordinated hold the groundbreaking ceremony for the Cat Bi International Airport Cargo Terminal Investment Project. The project has a total investment of VND 724 billion, with a capacity of 100,000 tons of cargo/year and a synchronous technical infrastructure system, with the ability to expand to 250,000 tons of cargo/year. It is expected to be completed and put into operation in January 2026.
Son La: Opening of Long Sap – Pa Hang International Border Gate Pair
On November 19, at Long Sap international border gate, the opening ceremony of Long Sap international border gate pair, Moc Chau district, Son La province (Vietnam) – Pa Hang, Sop Bau district, Hua Phan province (Laos) took place. On December 31, 2020, the Vietnamese Government decided to upgrade Long Sap main border gate to an international border gate. By September 16, 2024, the Lao Government agreed to upgrade Pa Hang main border gate to an international border gate.
Lang Son: Groundbreaking of Logistics project at Huu Nghi Border Gate
On November 26, the groundbreaking of the project of a general commercial business area, warehouse, yard, goods transfer and logistics services invested by Khang Viet Ha JSC at Huu Nghi Border Gate. The project will be an important bridge in the cross-border supply chain, contributing to promoting Vietnam – China trade, creating breakthroughs in development of logistics infrastructure in the border gate area, expanding cooperation opportunities for domestic & foreign enterprises.
Lang Son: Viettel invests in Logistics Park
Viettel Post Joint Stock Corporation has just announced the Board of Directors’ Resolution on approving the investment policy of the Viettel Logistics Park project in Lang Son. The company will sign a contract to lease the infrastructure at the Transit Area in the Dong Dang Border Gate Economic Zone. The move aims to provide import-export services, warehouse services, domestic freight transport and international e-commerce. The project is expected to be operational from early December 2024.
Bac Giang: Restarting the Bac Giang International Logistics Center
The focus of the restart phase is the integrated warehouse system (symbol: PP-2), with a total area of up to 50,000 sqm, integrating various types of warehouses. The system includes: bonded warehouses and CFS warehouses, centralized inspection locations for express goods, EPE warehouses and distribution warehouses, and loading and unloading yards. The project aims to become the first non-tariff logistics center outside the port in Vietnam.
Quang Nam: Chu Lai Port opens shipping route connecting to the US market
After launching a direct service route to major ports in India at the end of August 2024, Chu Lai Port continues to expand its international shipping route, connecting directly to the US market. On 18/11, at Chu Lai Port, a batch of 400 semi-trailers of THACO INDUSTRIES Group was loaded onto a ship and began its journey to Jacksonville Port, East Coast of the US. This is the first ship departing from Chu Lai, transporting export goods to the US market without having to transit via mother ships as before.
Ba Ria-Vung Tau: Another big investor requests to invest in Cai Mep Ha Port
Gemalink Cai Mep Port Joint Stock Company (Gemalink) has just sent the Prime Minister a letter of interest and proposed the Project to invest and develop Cai Mep Ha general and container port.
At the end of April 2024, the SCIC – GELEXIMCO – ITC consortium sent a document to the Prime Minister proposing to implement the Cai Mep Ha general and container port construction investment project.
Source: Catherine Huỳnh
