Illustrative image.
According to representatives from IDICO Vinh Quang Joint Stock Company, land clearance for the investment and construction of the Vinh Quang Industrial Zone’s infrastructure (Phase 1) in Vinh Hai and Vinh Bao communes is now substantially complete.
Previously, by mid-August 2025, only 561 out of 921 households had received compensation and support totaling approximately VND 270 billion.
IDICO Vinh Quang, the project’s investor, is actively collaborating with city departments to finalize investment procedures in preparation for the groundbreaking ceremony, scheduled to coincide with the 1st Congress of the Hai Phong City Party Committee for the 2025–2030 term. The ceremony is expected to take place in early October 2025.
Approved for investment in early 2025, the Vinh Quang Industrial Zone spans 226 hectares.
With a total investment of VND 3.55 trillion, the project is backed by investor equity of over VND 535 billion, led by IDICO Vinh Quang, a subsidiary of IDICO Group.
The industrial zone is designed as an eco-friendly development, integrating modern technology and efficient resource management.
The project’s operational period is 50 years from the investment approval date, with a maximum execution timeline of 36 months from land handover.
Upon completion, the project will not only boost industrial growth but also generate thousands of high-quality jobs for local workers.
Currently, IDICO manages 12 industrial zones covering nearly 4,000 hectares, including 9 in the South and 3 in the North, attracting nearly 400 businesses with a total investment of approximately USD 9 billion.
Under the 2030 industrial zone plan, the merged Hai Phong and Hai Duong will host 46 industrial zones spanning nearly 12,000 hectares, positioning the new Hai Phong City as a national leader in industrialization and modernization.
In the first half of 2025, Hai Phong attracted over USD 905 million in foreign direct investment (FDI). The merger with Hai Duong is expected to enhance the new city’s development capacity, competitiveness, and appeal for strategic FDI, marking it as a key investment destination nationwide.
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