Billion-Dollar Industrial Zones Surge in Northern Vietnam
On January 15th, Hai Phong launched three industrial zone (IZ) projects with a combined investment of nearly VND 19 trillion, focusing on high-tech and eco-friendly models.
Specifically, Tien Lang 1 IZ spans nearly 597 hectares with over VND 13 trillion in capital, meticulously planned to attract high-quality FDI. Vinh Quang IZ (Phase 1), covering over 226 hectares with an investment of VND 3.55 trillion, targets clean, low-emission industries. Meanwhile, Tien Lang Airport IZ – Zone B, nearly 186 hectares with VND 2.2 trillion, adopts an IZ-urban-service model linked to air and sea logistics.
Northern Vietnam’s industrial real estate market has seen robust growth recently. Photo: Dinh Phong.
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Beyond traditional industrial hubs, satellite provinces are accelerating. Phu Tho’s People’s Committee approved the Phu Ninh IZ, nearly 410 hectares with VND 2.6 trillion, slated for operation by Q4/2026 and completion by 2030.
Ninh Binh, Bac Ninh, Hung Yen, Thai Nguyen, and others are also approving new IZs, forming an “industrial belt” around the capital region.
According to Cushman & Wakefield Vietnam, by Q4/2025, cumulative IZ land supply in the North reached 23,990 hectares, up 42.8% year-on-year. Q4/2025 alone added 640 hectares from major projects like Phuc Son IZ, Que Vo 2 (Phase 2), and Dong Van V IZ in Ninh Binh.
This surge stems from two factors: administrative boundary adjustments incorporating new provinces, and accelerated project approvals in 2025. This expanded land reserves not only in traditional hubs like Bac Ninh and Hai Phong but also in satellite areas like Ninh Binh and Phu Tho.
Industrial Real Estate Deepens Its Focus
From 2026–2029, the North is expected to add over 5,000 hectares of IZ land, nearly 1 million sqm of ready-built factories, and 656,000 sqm of warehouses. New supply will extend beyond Hai Phong and Bac Ninh to satellites like Phu Tho, Ninh Binh, Thai Binh, and Ha Nam.
Growth drivers include strategic infrastructure like Gia Binh Airport, North-South Expressway expansions, and trends in green production (ESG), high-tech, and integrated logistics. Combined with free trade zones (FTZs) and deep-sea ports, the North is poised to strengthen its role as a regional production and logistics hub.
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Nguyen Phuoc Thuan, Director of Leasing at Cushman & Wakefield Vietnam, notes investors now prioritize long-term expansion potential, integrated infrastructure, and clear legal frameworks over price. Provinces with ample land and strong connectivity will dominate as businesses plan 5–10-year investments.
“As Northern Vietnam’s industrial market enters a new phase, policy coherence and infrastructure readiness are as vital as land availability, fostering a transparent, efficient investment climate to attract the next wave of manufacturing, electronics, and logistics firms,” said Thuan.
John Campbell, Head of Industrial at Savills Vietnam, agrees the market is deepening, with growth driven by project quality and higher value-add, not just area expansion.
Electronics exemplify this, with exports up 140% in the first 10 months of 2025 compared to 2019. New FDI also reflects long-term trends, with 68% invested in large-scale land leases versus short-term warehouse rentals.
Amid booming IZ supply, competition among localities will shift from “who has more land” to “who is more prepared”—focusing on logistics infrastructure, skilled labor, incentives, streamlined procedures, and integrated urban-service development for high-quality workers.
Experts warn against “cheap competition traps,” urging localities to target high-tech, eco-friendly projects linked to global value chains. Developing industrial-urban-service ecosystems, workforce training, and long-term planning will be key to sustainable growth in Vietnam’s industrial real estate over the next decade.
Dinh Phong
– 18:27 31/01/2026
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