Bac Ninh province shows great potential for industrial real estate

Experts suggest that the industrial real estate sector is increasingly playing a vital role in attracting foreign direct investment (FDI) and boosting domestic production. With the rapid expansion of its industrial parks (IPs) and critical transportation infrastructure, Bac Ninh is emerging as a strategic industrial hub in northern Vietnam.

Located just 30km from Hanoi and less than 20km from Noi Bai International Airport, Bac Ninh boasts a prime location and modern infrastructure, drawing interest from major corporations and driving regional industrial growth.

Prime Minister Pham Minh Chinh (front row, sixth from left) attends a ceremony to present investment registration certificates to projects in Bac Ninh province

Bac Ninh approved 359 new foreign-invested projects this year, an increase of 2.9 per cent compared to 2023, with a total registered capital of $1.8 billion, up 70.7 per cent.

With a total of $4.8 billion in foreign investment, Bac Ninh maintains its position among the top cities and provinces in the country for FDI attraction.

In the third quarter this year, the province granted investment certificates to a series of major projects, including the FCPV Foxconn Bac Ninh Plant ($383.3 million), the Goertek Nam Son - Hap Linh Plant ($280 million), the Victory Giant Vietnam Project ($260 million), the LOGOS Yen Phong II-A Project ($74 million), and the AAC Bac Ninh Plant ($50 million), and many more.

Bac Ninh's success lies in attracting large-scale ventures from globally renowned brands, creating distinct characteristics for each IP, and fostering a network of satellite investors. This has led to the establishment of specialised IPs and supporting industries within a high-quality, synchronised industrial ecosystem, developed by reputable investors capable of executing major projects such as Vietnam Singapore Industrial Park, Viglacera Corporation, Western Pacific Group, and Kinh Bac City Development Holding Corporation.

Bac Ninh province has also expanded into new urban areas and social infrastructure, creating a favourable economic environment with secure investment conditions and attractive incentive policies. These are the key factors propelling Bac Ninh to become a leading modern industrial centre in Vietnam and driving sustainable development for the northern economic region.

The project by LOGOS Group is being developed in the Yen Phong II-A Industrial Park

In 2025, the industrial real estate market in Bac Ninh is forecast to continue its robust development, solidifying its position as a major hub in northern Vietnam.

The province focuses on developing high-tech, green, clean, and environmentally friendly industries while accelerating the green transformation in IPs and industrial clusters.

Additionally, Bac Ninh emphasises promoting the supporting industry sector to enhance the competitiveness of small- and medium-sized enterprises. The province is strengthening regular dialogues with foreign-invested enterprises to promptly address emerging issues, fostering a sustainable development environment.

With a vision of becoming Vietnam’s leading electronics industrial centre, Bac Ninh is expediting major industrial projects, especially in high-tech fields such as semiconductor manufacturing, IT, pharmaceuticals, healthcare, and renewable energy equipment.

While maintaining electronics manufacturing as its primary driver, Bac Ninh is also diversifying into high-value industries and integrating value chains with research, development, and design.

Green and renewable energy-based industrial production is a key focus to elevate Bac Ninh’s position in the global value chain. This initiative promises to continue positioning the province as a growth engine not only for the northern region but also for the entire country in the near future.