First Investment Destination Outside Europe
European industrial park developer CTP plans to invest $1 billion in Vietnam, catering to clients seeking Southeast Asian locations. Maarten Otte, Investor Relations Director of the Czech Republic-based group, revealed this to Nikkei Asia Review.
Otte explained that due to tariff barriers, many clients are relocating production bases and expanding into Vietnam.
With tenants in chip manufacturing, automotive, and other sectors, CTP has chosen Vietnam as its first non-European destination for industrial park development.
Founded in 1998 by CEO Remon Vos, currently the second wealthiest individual in the Netherlands, CTP has become one of Europe’s largest industrial park developers. Its clients include Hitachi, H&M, and other multinational corporations adapting to the decade-long trend of “post-globalization.”
Maarten Otte, Investor Relations Director of CTP Group. Photo: CTP
To determine the allocation of the $1 billion investment, CTP leaders visited Vietnam five times this year. Locations mentioned by Otte include Hanoi, Haiphong, Hung Yen—an emerging FDI hub in the North, Bac Ninh—home to Samsung’s headquarters, Vinh Phuc—a major manufacturing center, and Da Nang and Ho Chi Minh City.
Otte concluded, “We’ve surveyed across Vietnam to make our decision. Ultimately, we aim to establish a presence in multiple locations within the country, not just one.”
Vietnam’s Appeal
Otte attributes Vietnam’s appeal to its political stability.
A young population, skilled workforce, political stability, and proven success in attracting FDI make Vietnam an attractive manufacturing destination, Otte explained.
“Manufacturers realize that while concentrating production in one location may be efficient, it poses risks to security and supply chains,” Otte noted.
Foreign investment continues to rise, with a 15% increase in the first three quarters, according to Vietnam’s General Statistics Office.
Vietnam’s allure has also drawn other industrial park developers like WHA (Thailand) and Sumitomo (Japan).
According to the General Statistics Office, registered foreign direct investment (FDI) in Vietnam as of September 30 reached $28.54 billion, up 15.2% year-on-year. Notably, realized FDI was estimated at $18.80 billion, a 8.5% increase and the highest nine-month figure in five years.
In recent years, several billion-dollar projects have invested in Vietnam. In 2023, Amkor invested $1.6 billion in a Bac Ninh plant. Foxconn, present in Vietnam for years, increased its total investment to over $2.2 billion by 2024.
In 2024, tech giant Nvidia announced two major research centers: an AI Research and Development Center and an AI Data Center. Also in 2024, Danish toy manufacturer Lego chose Vietnam for its first Southeast Asian factory, a $1.3 billion facility in Binh Duong, powered entirely by renewable energy and employing a closed-loop production model.
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