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  • News
  • News in Vietnam
  • 11 November 2022

Vinh Phuc: tremendous breakthrough opportunity on IP market

In the Northern key economic region, Vinh Phuc’s emerged as an attractive investment destination equipped with efficient infrastructure and overall development. Such compliment has been addressed by expert in a latest research regarding development potential of Vinh Phuc industrial park market. 

The province has engaged in establishing environmentally-friendly policies for enterprises over the past time. From 2020-2021 the provincial competency index (PCI) of this province has remarkably seen positive improvement from the 29th to 5th place.

It is determined that industrial development is the central target of the province, so mechanism and policy encouraging investment including tax preference and sponsor for supporting businesses have been advocated and implemented concurrently. Electronic components remains the most major export item of Vinh Phuc which is one of the largest car manufacturing center of Northern region.

Besides, provincial traffic system and infrastructure are conveniently connected to Hanoi, Hai Phong and Noi Bai international airport. Public transport efficiently serves the demand of local residents on travel within the region and to most of industrial zones. The province also benefits from the gathering of 2 ports namely Vinh Thinh and Nhu Thuy with transport capacity of up to 500 tons of commodity daily.

Vinh Phuc with 1,189 ha leased land and 138 ha available land has occupancy rate of 88% and average rent of 97 USD/m2/rent term. It has 7 industrial parks under operation now and is expected to establish 5 more in 2023. Major products from manufacturing business are comprised of computer, electronic and optical products, metal processing, rubber and plastic, car engine and nonmetal mineral products.

Vinh Phuc has an massive industrial land fund, especially for the product line of warehouses and ready-built factories, according to experts. However, supplies for ready-built factories or warehouses under 10,000 m2 are still limited. Therefore, this is an opportunity for investors interested in this segment. 

The presence of these well-known local automotive and electronics manufacturers will be the driving force for ancillary manufacturing industries or suppliers to relocate or diversify their operations to ready-built industrial real estate in Vinh Phuc. The shift of the supporting industry increases, and so do the demand for RBF and RBW.

Vinh Phuc has shaped and affirmed itself as a bright investment location among the provinces in the Northern Key Economic Region. Attracting large tenants from high-value manufacturing industries, and convenient location just 30 minutes from Noi Bai Airport and competitive rents are key attributes to the manufacturing and processing promoting in Vinh Phuc. Local government also plays a huge role in improving infrastructure and investment procedures, indicated by its rising to the 5th place in the 2021 PCI list.

Source: tinnhanhchungkhoang