Vingroup to launch two industrial parks in 2021

November 13, 2020 | 12:19

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Conglomerate Vingroup will launch two industrial parks in 2021 to meet the demand from the wave of investors shifting operations to Vietnam.

vingroup to launch two industrial parks in 2021

Vingroup will launch two industrial parks in 2021

This was published by Savills Vietnam at a conference related to Vietnamese industrial parks (IPs) organised in Hanoi on November 12.

According to the Savills report, the two IPs of Vingroup located in Haiphong include the 200-hectare Nam Trang Cat IP and the 319ha Thu Nguyen IP. Both of them are developed by Vinhomes Industrial Zone Investment (Vinhomes IZ).

Previously, Vingroup announced plans to pour over $400 million into industrial real estate, hoping to gain from the shifting of production from China.

The group requested permission from authorities to spend over VND4.1 trillion ($178.3 million) developing infrastructure at the Thu Nguyen IP planned in the suburbs of Haiphong.

In June, Vinhomes JSC released information that it acquired part of the shares owned by Vingroup in Vinhomes IZ to become its parent company.

At the same time, Vingroup issued information that the charter capital of Vinhomes IZ from VND70 billion ($3 million) to VND6 trillion ($260.87 million).

The move marks Vingroup's entry into the IP real estate sector and follows a plan based on Vietnam's economic stability as well as increasing foreign direct investment and a growing manufacturing sector.

In addition, Vinhomes entering the development of IP also contributes to creating favourable conditions for the world’s leading auxiliary equipment providers to establish their first manufacturing facilities in Vietnam and then build out an ecosystem for domestic automobile manufacturing, aligning with Vingroup’s overall target of developing the industrial sector.

By Ha Vy

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