“The Big Players Enter the Arena”: Vingroup and Sun Group’s Foray into Bac Ninh’s Real Estate with Billion-Dollar Projects, Catalyzing a Surge in FDI to $2.8 Billion, a Whopping 2.5 Times Higher Than 2024

According to the Department of Finance and the Management Board of Industrial Parks in the province, from the beginning of the year until now, the province has granted new investment registration to 77 domestic projects with a total registered capital of nearly VND 197,000 billion.

In addition, the province granted new investment licenses to 124 FDI projects with a total registered capital of nearly USD 659 million; adjusted investment capital for 79 projects with an additional capital of over USD 2 billion. Bac Ninh attracted nearly USD 2.8 billion in FDI in the first six months, 2.5 times higher than the same period in 2024.

Up to now, the province has granted investment registration to 2,569 effective FDI projects with a total registered investment capital of USD 31,819 million after adjustment and capital contribution, purchase, and share purchase.

Since the beginning of the year, Bac Ninh province has attracted, approved investment policies, and selected investors for many large urban projects such as the new urban area in the Northwest by Vingroup, and the new urban, ecological, resort, and entertainment service area in Lien Bao, Tien Du district by Sungroup.

In addition to these two major corporations, Bac Ninh has also attracted many real estate businesses to develop projects. Specifically, Hanoi Western Investment Joint Stock Company (one of the founding shareholders is T&T Group) won the bid for the project “Investment in building a new urban area for tourism, ecology, culture, resorts, entertainment, and recreation” in Tien Du district (Sub-zone 112.1). The project has a scale of about 299 hectares and a total investment of more than VND 19,700 billion.

According to the recently published environmental impact assessment report, the project will complete investment procedures and site clearance in June this year. It is expected that the fourth quarter of 2029 will organize the acceptance of items of work.

Northwest Investment Joint Stock Company (a subsidiary of Sun Group) has also been approved as an investor in a new urban area for tourism, ecology, culture, resorts, entertainment, and recreation in Tu Son city (Sub-zone 112.3). This project has an area of about 199 hectares and a total investment of VND 11,171 billion.

King’s Land Joint Stock Company won the bid for the project “Investment in constructing a new urban area in the Northwest of Bac Ninh city (Zone 3) – Sub-zone 3.2” in Vu Ninh and Hoa Long wards, Bac Ninh city. The project has a scale of nearly 49 hectares and a total investment of more than VND 17,300 billion.

Next is the new urban area in the Northwest of Bac Ninh city (Zone 3) – Sub-zone 3.1 in Vu Ninh ward. The winning bidder is a joint venture between Hoa An Infrastructure Development Joint Stock Company and Xuan Dinh Construction Investment Joint Stock Company (a company related to Sunshine Homes). The project has a scale of more than 48 hectares with a total investment of VND 10,120 billion.

In addition, the joint venture between Taseco Real Estate Investment Joint Stock Company (Taseco Land, UPCoM: TAL) and HNG Holdings Joint Stock Company won the bid for the project “Investment in constructing a new urban area in Huong Mac ward and Phu Khe ward, Tu Son city”. The project has an area of 30.4 hectares and an expected total investment of over VND 2,500 billion.

Recently, Viglacera Corporation – Joint Stock Company has proposed to invest in the project “New urban area in the Northwest of Bac Ninh city (Zone 4)” with a scale of about 22 hectares and a total investment of nearly VND 2,441 billion.

Recently, a large-scale urban project, integrating a football training center in Van An ward, Bac Ninh city, with a total investment of nearly VND 8,157 billion, has also found an investor. The joint venture includes three companies: Sports Real Estate Joint Stock Company, Green Wind Investment Group Joint Stock Company, and Global Viet Thai Joint Stock Company. All three are companies established less than a year ago and are headquartered in Hanoi.

According to the Bac Ninh Department of Information and Communications, for the first time, Bac Ninh province has applied a “Green Channel” mechanism, prioritizing handling within 24 hours for key projects with spillover effects, domestic investment projects with a total capital of $10 million or more, foreign-invested projects with a total investment of $100 million or more, dry ports, concentrated information technology parks, urban areas, etc., ensuring that projects are soon implemented and put into operation, and reducing by 60% the time for handling dossiers related to construction permits, land, environment, fire protection, customs, etc.

In the first six months, the state budget revenue in Bac Ninh province is estimated at VND 23,210 billion, reaching 60% of the estimate, up 50.8% over the same period in 2024. Of which, domestic revenue was VND 18,750 billion, reaching 62.4% of the estimate, up 52.4%; revenue from import and export activities was VND 4,460 billion, reaching 51.56% of the estimate, up 39.2%.

Local budget expenditure is estimated at VND 13,606 billion, reaching 61.15% of the estimate, up 53.21% over the same period in 2024; in which investment expenditure was VND 7,645 billion, reaching 97.84% of the estimate, up 68.45%.

In the first six months of 2025, the growth rate (GRDP) of Bac Ninh province increased by 9.18% compared to the same period in 2024, exceeding the two-digit growth scenario. In particular, the industry – construction sector increased by 9.01%; tax products increased by 8.13%; the service sector increased by 11.26%, and the agriculture, forestry, and fishery sector increased by 0.53%.

The industry – construction sector continues to play a key role, accounting for the highest proportion in the economic structure of the province.