The Vinh Quang Industrial Park (Phase 1) in Vinh Bao District, Hai Phong City, has been approved for investment with a total capital of over 3,500 billion VND.
This information was stated in the investment policy decision for the construction and infrastructure development of the Vinh Quang Industrial Park (Phase 1), signed by Deputy Prime Minister Tran Hong Ha. The project covers a total land area of over 226 hectares in the communes of Vinh Quang, Cong Hien, and Thanh Luong in Vinh Bao District, Hai Phong City. The total investment is over 3,500 billion VND, with about 536 billion VND contributed by the investor.
The project will operate for 50 years and is being developed as an eco-industrial park.
The project is being undertaken by Idico Vinh Quang Joint Stock Company, established in November 2023 with a charter capital of 550 billion VND. The Vietnam Urban and Industrial Zone Development Investment Corporation (Idico) holds a 99.9% stake in this company. Idico, originally a company under the Ministry of Construction, specializes in developing industrial parks, residential areas, and transportation infrastructure.
Industrial real estate has been a leading and growing segment in the market over the past year. By 2025, the supply of industrial real estate is expected to increase as more industrial parks are approved and commenced nationwide. According to Avison Young, industrial land rental prices in key northern and southern markets could rise by 2-5% per quarter.
According to the Hai Phong Economic Zone Authority, the city is currently home to one economic zone, Dinh Vu – Cat Hai, and 14 industrial parks covering a total area of over 6,000 hectares under investment and development. The occupancy rate of these industrial parks has reached up to 70%.
In recent years, Hai Phong has continuously attracted significant investments from major corporations such as LG, Pegatron, USI, Bridgestone, and SK. By the end of November 2024, the city had attracted 1,000 FDI projects from 40 countries and territories, with a total investment of over 32 billion USD, accounting for 7% of the country’s total FDI. It is estimated that by the end of 2024, Hai Phong’s FDI attraction will exceed 4 billion USD.
