GELEX subsidiary to scale up operations after attracting $18 billion in FDI

Samsung Group has committed to expanding its investment in manufacturing projects with $1.8 billion this year, in addition to the $6.5 billion invested in Yen Phong Industrial Park.

Samsung Display Vietnam will invest an additional $1.8 billion in the factory located in Yen Phong Industrial Park of Viglacera Corporation. Photo: GELEX

Meanwhile, Amkor Technology Vietnam Limited Liability Company also decided to increase its investment capital by nearly $1.1 billion for a factory in Yen Phong 2C Industrial Park, specialising in manufacturing, assembling, and testing semiconductor materials and equipment.

Notably, Yen Phong and Yen Phong 2C industrial parks (IPs) are both key projects for Viglacera Corporation. 

Viglacera's industrial parks have become investment destinations for more than 400 enterprises from different countries and territories around the world, such as BYD, Qisda, Texhong, Kanglongda, Foxconn, Risuntek, Nam Liong, BBID, Samsung, Amkor, Hyosung, and Canon, attracting $18 billion, of which more than 70 per cent is foreign investment.

Viglacera's IPs are uniquely positioned in key economic regions of the Northern, in the provinces of Bac Ninh, Ha Nam, Hung Yen, Quang Ninh, Phu Tho, Thai Binh, Thua Thien Hue, with synchronous investment in technical infrastructure and services. 

In addition, these IPs also have advantages with housing funds for employees and experts in the IPs. The total area of ​​this type of housing will be invested by Viglacera up to nearly 190 hectares, approximately 6,700 apartments, invested synchronously with other utilities such as sports fields, flower gardens, kindergartens, and medical stations.

Land expansion

Foreign direct investment (FDI) is rising as Viglacera continues to expand its footprint. The company is implementing many new projects, including Song Cong II IP Phase II with an investment of nearly VND4 trillion ($157.5 million), focusing on the electricity, electronics, and clean energy industries. Doc Da Trang IP in Khanh Hoa has also been approved, aiming to attract investment in the supporting and high-tech industries.

Currently, Viglacera manages 15 IP real estate projects with a total area of ​​about 4,600ha. By 2025, the company aims to increase the total number of IPs to 20, with about 2,000-3,000ha of new land added.

The company is focusing its efforts on creating eco-friendly and smart IPs. Accordingly, Viglacera's IP projects in the coming period all aim at green criteria. With new projects, Viglacera sets the investment standards to be green, smart, minimising the consumption of raw materials and fuel, reducing water consumption, and reducing environmental pollution. For IPs that have been invested in and are in operation, enterprises will invest in converting and upgrading each part to achieve the highest level of greening. 

Thuan Thanh Eco-Smart IP is the first green, smart industrial park in Bac Ninh province, invested by Viglacera. Photo: GELEX

Developing green and smart industrial parks provides Viglacera with a significant advantage in attracting foreign direct investment. This approach also supports the growth of eco-industrial parks and eco-friendly enterprises in Vietnam, driving sustainable progress. At the same time, it contributes to improving competitiveness and continues to affirm its leading position in the industrial parks and industrial real estate segments in Vietnam. 

CBRE forecasts that in the next three years, industrial land rental prices will increase by 3-9 per cent per year in the north and 3-7 per cent per year in the south. As Vietnam continues to upgrade diplomatic relations with other countries, the economy in general and the manufacturing industry as well as Vietnam's IP real estate are expected to benefit and continue the development trend.

This is also a prime opportunity for Viglacera to make significant strides in the industrial real estate segment, continuing to set new business performance records following its integration with GELEX. 

GELEX Group promoting new property and industrial ventures GELEX Group is making changes in its strategies with more real estate and industrial park ventures to create positive values.

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