Vietnam Industrial Property Forum 2020: Riding the new wave

VIR's editor-in-chief Le Trong Minh addressing Vietnam Industrial Property Forum 2020

The Vietnam Industrial Property Forum is taking place today (October 28, 2020) in Ho Chi Minh City with the participation of around 500 guests, representatives of ministries, agencies, localities, and industrial zones from across the country, as well as experts, and foreign businesses and associations.

At the forum, experts confirmed that Vietnam is one of the most attractive and safest destinations at present, which yields a lot of opportunities for the country to utilise the global investment relocation wave.

"In fact, numerous giants from Asia and the US are setting eyes on Vietnam to find new opportunities and restructure their supply chains which have been disrupted by the COVID-19 pandemic and some geopolitical factors over the world," VIR's editor-in-chief Le Trong Minh affirmed at the forum.

So although most trade activities were interrupted by the pandemic, still a lot of investors are exploring information and opportunities to develop their projects in Vietnam. "Thereby, industrial property has become the most vibrant segment in the year. Its attraction will improve when the pandemic is under total control, and all trade and investment activities return to normal," Minh added.

Deputy Minister of Planning and Investment Vo Thanh Thong speaking at Vietnam Industrial Property Forum 2020

According to Deputy Minister of Planning and Investment Vo Thanh Thong, Vietnam is preparing to welcome the up-coming investment wave and become a manufacturing hub for the world. "Infrastructure in industrial zones and economic zones is being upgraded to receive big giants. In the time coming, some industrial-link clusters will be piloted to establish manufacturing networks and supply chains, as well as join deeper into global value chains," Thong said.

There are 336 industrial zones across the country, covering 97,800 hectares of area, with industrial infrastructure, warehouses, logistics, and other services being developed and improved to match investor demand.

The deputy minister also said that industrial zones are shifting towards sustainable development. "In 2015-2019, a number of industrial zones were piloted to transfer to eco-industrial parks by improving their quality and infrastructure. So manufacturing activities are getting cleaner, saving natural resources, and strengthening linkages and partnerships in manufacturing. This also matches the requirements of investors to convince them to choose Vietnam as the destination of their relocation," the deputy minister Thong added.

Meanwhile, VIR's editor-in-chief Le Trong Minh said industrial property will get more vibrant thanks to the presence and expansion of domestic and foreign businesses, including suppliers in logistics and warehouses, which can already be seen through the relocation of some giants, along with the arrival of hundreds of vendors to Vietnam.