Vinh Phuc to Develop 24 Industrial Parks by 2030

According to the plan endorsed by the Prime Minister of Vietnam, Vinh Phuc province is set to establish five new industrial parks by 2030, increasing the total number of parks to 24 and expanding the land area to 7,000 hectares.

Vina NewFlex Co.,Ltd, Ba Thien II Industrial Park

Currently, nine industrial parks are in stable operation in Vinh Phuc province, namely Khai Quang IP: 221.46 hectares; Binh Xuyen IP: 286.98 hectares; Kim Hoa IP: 50 hectares; Ba Thien IP: 325.75 hectares; Binh Xuyen II IP - Phase 1: 42.21 hectares; Ba Thien II IP: 308.83 hectares; Tam Duong II IP - Area A: 135.17 hectares; Son Loi IP: 257.35 hectares; Thang Long Vinh Phuc IP: 213 hectares. These industrial parks have achieved high occupancy rates and significantly contributed to the socio-economic development of the province.

The industrial parks in Vinh Phuc province have not only expanded within core areas such as Vinh Yen, Phuc Yen, Binh Xuyen, and Tam Duong but have also extended into Vinh Tuong, Lap Thach, and Song Lo districts, with an occupancy rate approaching 70%. These parks contribute 60-65% of the province's industrial production value, account for 60-65% of export value, and provide 75-80% of the total budget revenue, excluding Honda Vietnam in Kim Hoa IP. Additionally, the province is advancing other promising projects, including the Nam Binh Xuyen Industrial Park (Green Park) in the high-tech zone.

Mr. Nguyen Van Hung, Chairman of the Board of Directors, CNCTech Group, said that the company is currently executing 16 projects in Vinh Phuc across various sectors including mechanical manufacturing, electronic assembly, pre-built factories, logistics and industrial infrastructure. Notable projects include CNCTech Ba Thien I and the Hop Thinh industrial cluster, with a combined land area exceeding 600 hectares. These projects have successfully attracted investment from China, Taiwan, Hong Kong, Korea, and Japan. A key initiative is the Nam Binh Xuyen Industrial Park, a collaborative venture with Korea's PNX Group, covering nearly 300 hectares. This project aims to establish a green, smart, and modern industrial park designed to meet the stringent requirements of leading global manufacturers. The development of this park is expected to be a significant milestone in enhancing industrial infrastructure, attracting investment, and driving socio-economic growth in Vinh Phuc province. Vinh Phuc aims to strengthen cooperation with localities in the Red River Delta and the Northern key economic region to transform the province into a major industrial hub in high-tech sectors, electronics and automotive industries. The focus will be on developing four key industrial groups: electronic product manufacturing, supporting industrial products, and prioritizing the attraction of enterprises that manufacture supporting industrial products to leverage the province's strengths and those of the Red River Delta.

As of July 15, 2024, the Management Board of Vinh Phuc Industrial Parks reported that there are 495 valid investment projects in the parks, including 118 domestic projects with a total investment of VND 37,724.64 billion and 377 foreign direct investment (FDI) projects amounting to US$6,720.89 million.

By Thanh Loan, Vietnam Business Forum