Focus on Transport Infrastructure
According to reports, Long An’s strategic location bridges the Mekong Delta and Ho Chi Minh City, connecting two key economic regions in the country’s East and Southwest. However, for many years, Long An’s development has not matched its potential, partly due to inadequate transport infrastructure connecting the province to other regions and within the province itself.
Now, Long An is on the right track by focusing on infrastructure development to support its urbanization and socio-economic growth, aiming to become one of the leading industrial provinces in Vietnam.
Economic expert Dr. Dinh The Hien affirms that with the provincial government’s determination to implement its infrastructure development plan in the coming years, Long An can become a crucial link between the East and Southwest regions. The completion of several connectivity projects by 2025–2026 will open up development prospects for Long An and realize its 2021–2030 vision, with a outlook towards 2050.
Long An’s vision focuses on significant transport infrastructure development.
Mr. Tran Khanh Quang, with his extensive experience in real estate investment, emphasizes that in recent years, Long An has been intensely developing urban infrastructure, connecting the western gateway of Ho Chi Minh City to the Southeast region via the N2 route, expressways, and the Ring Road 3, soon to be followed by Ring Road 4. Additionally, routes like Ben Luc – Long Thanh, which connect to the Southeast region, are vital for Long An’s current development.
According to Mr. Quang, this presents an opportunity for the province’s industrial real estate market. The improved infrastructure has made Long An an attractive choice for large-scale industrial park investors and corporations looking to expand their operations.
Industrial Park Development Shifts to Thu Thua
According to the report on Urban Development and the Real Estate Market in Long An province for 2021–2025, with a vision towards 2030, the province is currently focusing on promoting industrial development in terms of both breadth and depth, aiming to become one of the country’s leading industrial provinces by 2050.
According to statistics from the Ministry of Planning and Investment, Long An ranks third in the country in terms of industrial park development (after Dong Nai and Binh Duong provinces). It is also consistently among the top provinces in attracting FDI. Long An is considered a bright spot in attracting industrial investment in the Southern Key Economic Region and the Mekong Delta.
Long An currently has 35 established industrial parks with a total planned area of 9,364.47 hectares. Of these, 26 industrial parks are ready to receive investment, with a planned area of 5,982.14 hectares (including 4,278 hectares of industrial land, of which 2,899.94 hectares have been leased). Additionally, there are 9 industrial parks that have been approved in principle by the Prime Minister and are in the process of implementing procedures, acquiring land, and investing in industrial park infrastructure, with a planned area of 2,466.8 hectares.
Furthermore, 5 industrial parks with a planned area of 997.86 hectares have submitted their applications for approval in principle by the Prime Minister and are being appraised by the Ministry of Planning and Investment. The remaining 11 industrial parks, with a planned area of 2,183.5 hectares, are in the process of completing planning procedures and will undergo the approval process after meeting the conditions stipulated in the law on industrial parks.
In terms of locality, Thu Thua has significant potential for industrial development. It currently ranks second among the top 5 localities in Long An with the largest area of industrial parks ready to receive investment, at 192.13 hectares. It also ranks third among the top 5 localities with the highest potential for industrial park development in the province, with 4,615.7 hectares. When considering the growth rate of the top 5 localities with the largest area of industrial parks ready for investment, Thu Thua ranks first, with an impressive growth rate of 2016%.
According to the plan, by 2030, Long An will have 17 newly established industrial parks, covering an area of nearly 3,200 hectares. The province will have a total of 51 industrial parks with an area of 12,433 hectares, ranking second in the country in terms of industrial park area.
At the same time, the province will have an additional 28 industrial clusters with a total area of 1,808 hectares, bringing the total number of industrial clusters in the province to 72 by 2030, covering an area of 3,989 hectares. This provides a favorable condition for investors to take advantage of the infrastructure, preferential policies, and other benefits offered by these industrial and cluster parks spread across the province.
Regarding the real estate market, despite its many advantages, Long An’s development has been uneven, with a noticeable gap between segments. Land plots remain the dominant segment and have been active for a long time, followed by the landed housing segment. Apartments, however, have the most limited supply in the Long An market.
In previous years, Long An only had a supply of social housing apartments. However, with the current high immigration rate, the demand for housing, including the desire to own apartments, will drive the development of this segment.
In terms of industrial real estate, with its vast land area and abundant, high-quality workforce, Long An’s industrial real estate is expected to continue thriving and become a rival to other provinces in the region.
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