Industrial real estate market in Hai Phong, Quang Ninh, Hung Yen: Attractive and vibrant
The approved provincial and regional planning for the 2021-2030 period, 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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| Song Khoai Industrial Park (Amata City Ha Long) in Quang Yen town, Quang Ninh province has an area of 714 hectares, and has so far attracted 19 FDI projects with a total investment capital of 2.9 billion USD. |
Concretize planning
Quang Ninh is the first locality in the Red River Delta region to have the 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 position its values and opportunities in the development process in the new stage.
To attract all investment resources and effectively exploit potentials and advantages, Quang Ninh focuses on developing key economic zones (EZs). Specifically, the province builds and develops Quang Yen coastal EZ to become the nucleus and new growth engine in the Western region; builds Van Don EZ to become an entertainment and cultural industry center with casinos, high-class sea and island tourism, and international-class comprehensive services with a synchronous socio-economic infrastructure system; builds Mong Cai border gate EZ to become one of the dynamic and sustainable economic growth poles of the province and the Northeast region, and an important economic development center of the coastal economic belt of the Gulf of Tonkin.
Quang Ninh will allocate 6,589.03 hectares of land to develop 8 new industrial parks (IPs). The goal is that by 2030, the province will have 23 IPs with a total area of about 18,842 hectares, of which the land use area by 2030 will be about 5,904 hectares. Currently, the province has 16 IPs, including IPs that have come into operation, IPs under construction, and IPs that are being studied for planning and selecting investors.
Recently, the People's Council of Quang Ninh province issued a Resolution approving the task of the Master Plan for the construction of Bac Phong Sinh Border Gate Economic Zone until 2045. This economic zone is planned with a focus on developing trade, services, tourism, and processing industry; closely linked with Hai Ha Industrial Park - Seaport to form a hub for gathering, transiting, and importing and exporting goods and services. Bac Phong Sinh Border Gate Economic Zone, together with Hoanh Mo - Dong Van Border Gate Economic Zone, will support Mong Cai Border Gate Economic Zone to ensure continuity, maintain continuous operations, and promote the development of border gate economic zones.
For Hai Phong - a city with 5 transportation systems and seaports, "Hai Phong City Planning for the period 2021 - 2030, with a vision to 2050, helps Hai Phong find the most effective path of innovation and development", as stated by Deputy Prime Minister Tran Hong Ha at the Conference to Announce Hai Phong City Planning.
The planning will open up new opportunities and development space to turn Hai Phong into a major seaport city in the region and the world with three development pillars: seaport services - logistics; green, smart, modern industry and international sea tourism center, with a high level of development among the leading cities in Asia and the world.
Hai Phong currently has 1 economic zone, 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 zones with a total area of over 6,080 hectares, 9 are located in 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 about 7,700 hectares. The city is promoting the planning and establishment of a 20,000-hectare Southern Economic Zone with airport infrastructure, seaports, free trade zones, industrial centers, urban areas, and logistics centers to attract more investors to Hai Phong.
On July 16, the Hai Phong Economic Zone Management Board submitted documents to the Ministry of Planning and Investment for appraisal and submitted to the Government for approval of investment policies for 5 new industrial parks with a total area of 1,793.9 hectares, including the 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 three localities selected as a pilot locality to develop a national green development plan.
Hung Yen province also held a conference to announce the Hung Yen Provincial Planning for the period 2021 - 2030, with a vision to 2050 on July 7, 2024. Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that the Planning pointed out the differences and outstanding features of Hung Yen compared to surrounding provinces, thereby developing without overlapping, but linking and supporting each other.
Specifically, in Hung Yen province, there are 35 industrial parks planned for development, with a total area of 12,048.63 hectares. Of which, in the period up to 2030, 30 new industrial parks are planned for development, with a total area of 9,183.53 hectares; 4 industrial parks are planned for expansion, with a total area of 405.1 hectares. The total land area planned for industrial park development is 9,588.63 hectares. After 2030, 5 new industrial parks are planned for development, with a total area of 2,460 hectares.
It can be seen that the approved provincial and regional plans are the premise for the development of economic zones and industrial parks. That is the development opportunity of the industrial real estate market in localities in the present and future.
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Leverage to attract rapid investment
Along with the general planning, prioritizing investment in infrastructure development plays a role as a lever to attract domestic and foreign investment.
With the advantage of being the main gateway to the sea of the entire Northern region, Hai Phong has a strategic position, playing a particularly important role in the development of the Northern Key Economic Zone. In particular, Hai Phong also holds a key position in the "Two Corridors - One Economic Belt" cooperation between Vietnam and China, a location with strategic relations with major growth poles in the East Asia and Southeast Asia regions. Taking advantage of this, the City has invested in a synchronous and modern transport infrastructure system with highways, international seaports, international airports, and railways.
Not stopping there, Hai Phong continues to upgrade and build many new projects to become an international logistics center. Last year, the city focused on implementing a number of key projects such as: passenger terminal No. 2 and cargo terminal of Cat Bi International Airport; Lai Xuan bridge, renovation and expansion of provincial road 352, port projects No. 3-4 and No. 5-6 of Lach Huyen international port system. Currently, 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, with a total capital of more than 1.1 billion USD. As of June 20, 2024, Hai Phong had 1,165 valid projects, with a total investment capital of 29.59 billion USD.
Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, said that by the end of June 2024, the Board had completed the assigned FDI attraction task for the entire 2021-2025 term, reaching 12.56 billion USD/12.5 billion USD.
In recent times, the promotion of public investment has also greatly benefited the industrial real estate market. In Hung Yen, the successful exploitation of the road connecting Hanoi - Hai Phong expressway and Cau Gie - Ninh Binh expressway through Hung Yen province has breathed new life into the local industrial real estate market. Along this route, there are currently industrial parks and industrial clusters with completed infrastructure such as: Industrial Park No. 5, An Thi Industrial Park, Clean Industrial Park, Industrial Park No. 3, 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 well prepared the necessary conditions, especially site clearance, infrastructure, and human resources to attract multinational corporations and large enterprises with modern technology to invest in the province. Timely decisions have created confidence among investors. Therefore, in 2023, Quang Ninh attracted 3.11 billion USD of FDI capital, an increase of 42.3% compared to 2022, becoming one of the localities attracting the largest amount of FDI capital in the country.
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
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