Factory and warehouse project set to draw foreign investors to Bac Ninh

April 18, 2024 | 09:00
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Industrial property developer KCN Vietnam Group JSC (KCN Vietnam) broke ground on a factory and warehouse project in Thuan Thanh III Industrial Park on April 17 in the northern province of Bac Ninh.
Factory and warehouse project set to draw foreign investors to Bac Ninh
KCN Vietnam's cutting-edge factory and warehouse project set to magnetise foreign investors in Bac Ninh

This is KCN Vietnam's debut venture in Bac Ninh, encompassing a 14-hectare area and anticipated to offer more than 90,000 square metres of top-tier ready-built facilities available for lease.

The project in Bac Ninh is poised to attract interest from diverse industries, including high-tech, clean technology, electronics, light industry, food processing, and supporting industries. What sets this project apart is its top-tier industrial infrastructure and a strategically advantageous location for industrial expansion.

Positioned at the northeastern gateway of Hanoi, it enjoys seamless transportation connections and proximity to key international airports and major seaports. These factors bolster its competitive edge, creating a highly attractive environment for significant foreign direct investment (FDI).

For years, the northern region has upheld its status as a leading industrial hub in Vietnam, drawing FDI from international enterprises. Standing out among the region, Bac Ninh is emerging as a focal point for foreign-invested capital attraction, particularly from northeast Asian countries such as China, Japan, and South Korea.

According to a report by the Foreign Investment Agency under the Ministry of Planning and Investment, in the first quarter of this year, Bac Ninh ranked second in the country for FDI attraction with total registered investment capital of almost $745.2 million, accounting for nearly 12.1 per cent of the national figure. The achievement is primarily credited to the substantial investment in the province, particularly in developing high-quality industrial infrastructure and pre-built warehouses and factories.

With the strategic expansion of investment in key economic regions nationwide, in addition to projects in the southern region, KCN Vietnam has also been actively investing in the northern region with projects in Deep C (Haiphong), Tan Hung (Bac Giang), An Phat (Hai Duong province), and Thuan Thanh III Industrial Park.

This newest KCN Vietnam project in Bac Ninh adheres to stringent modern industrial infrastructure standards. These include optimal ceiling heights, well-equipped fight-fighting systems, and efficient loading areas equipped with dock levellers. Furthermore, KCN Vietnam strongly emphasises sustainable development with the implementation of solar power systems.

In addition to its prowess in infrastructure development, KCN Vietnam leads the way in providing comprehensive support to businesses throughout their investment and operational journey in Vietnam. This consultancy spans from providing insights into market dynamics, investment climate, and tax incentive policies, to guiding investors through investment registration procedures, business establishment, and addressing inquiries.

Services also include legal, tax, accounting, and human resources consultations. This comprehensive support is invaluable for investors, significantly streamlining entry into the Vietnamese market and minimising both time and costs, while fortifying the competitive position of enterprises within the marketplace.

Factory and warehouse project set to draw foreign investors to Bac Ninh

Nguyen Duc Cao, deputy head of Bac Ninh Industrial Zones Management Board said, “Taking the roles of overseeing IZ operations within the province, we are thrilled and deeply value KCN Vietnam's investment choice to establish this ready-built warehouse and factory project in Bac Ninh. We are eager to witness promising outcomes of the project, as it will serve as an important precedent in bolstering the locality's capacity to attract FDI, sustaining its prominent position in national FDI attraction, and fostering swift and sustainable socioeconomic progress within the region.”

Truong Khac Nguyen Minh, deputy general director of KCN Vietnam, stated, “With the desire to accompany businesses and customers throughout the investment and sustainable business development process in Vietnam, we are confident that our new project in Bac Ninh will provide investors with additional choices when seeking high-quality ready-built warehouses and factories in the key northern economic area. KCN Vietnam will continue to intensify investment and develop many other industrial projects nationwide.”

Benefiting from its strategic location and commitment to sustainable investment practices, KCN Vietnam's latest ready-built factory and warehouse project in Bac Ninh is poised to generate significant competitive advantages.

It is anticipated to attract FDI and play a pivotal role in advancing Bac Ninh and the broader national economy. Additionally, the project is forecasted to generate numerous job opportunities for the local community, thereby enhancing quality of life and fostering regional economic growth.

KCN Vietnam was established in 2021 to address the escalating demand for high-quality industrial rental properties. The company had laid a solid foundation with an initial land acquisition of approximately 200 hectares and an investment exceeding $300 million.

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