A massive pharmaceutical and biological industrial park is set to be constructed in Quynh Phu District, Thai Binh Province, Vietnam. Spanning an impressive 345 hectares, this industrial park is set to be a major development for the region.
With a total investment of approximately VND 3,800 billion, the industrial park is a joint venture between Makara Capital Partners Pte., Ltd; Sakae Corporate Advisory Pte., Ltd, and Newtechco Group JSC. This collaboration brings together a wealth of expertise and resources to develop a state-of-the-art facility.
The industrial park is designed to accommodate a diverse range of facilities, including manufacturing plants, research and training centers, a botanical research center, logistics and warehousing, technical infrastructure, and housing for experts and workers. The rendering showcases the project’s modern and well-planned design.
This industrial park will serve as a hub for attracting foreign pharmaceutical and medical equipment companies to Vietnam, fostering technology transfer, research, and high-value exports. Additionally, the local community will benefit from improved access to advanced healthcare services and scientific achievements at affordable costs.
The pharmaceutical and biological industrial park is expected to break ground and commence investment promotion activities in 2025. Once operational, it will host 80-90 manufacturing enterprises, catering to both domestic demand and exports. Additionally, the park will create direct employment opportunities for approximately 18,000 workers.
The industrial park sets an ambitious investment attraction target of USD 2 billion, equivalent to approximately VND 48 trillion. This target is divided into two phases: VND 19.2 trillion for 2024-2027 and VND 28.8 trillion for 2028-2030, showcasing the project’s long-term vision and potential.
In 2023, Thai Binh Province emerged as a breakthrough destination for foreign direct investment (FDI) in Vietnam, attracting nearly USD 3 billion in investments, the highest ever, and ranking 5th nationwide. The addition of the pharmaceutical and biological industrial park will further enhance Thai Binh’s appeal to investors, elevating the province’s standing in the country.
Currently, the site designated for the industrial park is primarily agricultural land used by local farmers. The development of this land into an industrial park will bring about a significant transformation in the area.
Thai Binh Province boasts a wealth of human resources in the fields of medicine, pharmaceuticals, and biology, coupled with significant investments in transportation infrastructure, including river and sea ports, railways, and an upcoming airport.
According to the approved master plan for Thai Binh Province for the period of 2021-2030, with a vision towards 2050, the province is poised to become one of the key industrial development centers in the Red River Delta region, with a strong focus on the pharmaceutical and biological industries, medical equipment, and services.
The establishment of this large-scale, modern, and integrated pharmaceutical and biological industrial park in Thai Binh Province holds significance beyond the provincial level. It offers a solution to the challenges faced by Vietnam’s pharmaceutical industry in its pursuit of development and global integration. The province of Thai Binh is also witnessing the construction of multiple large-scale hospitals, further contributing to the region’s healthcare infrastructure.
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