Being safe in COVID-19: Haiphong a bright spot on Vietnam’s industrial property map

17:09 | 09/12/2020
Despite being affected by the COVID-19 pandemic, Haiphong is one of the few localities which managed to maintain economic growth, becoming a bright spot for FDI investors.
being safe in covid 19 haiphong a bright spot on vietnams industrial property map
In Haiphong, Nam Dinh Vu IP remained an attractive destination to investors during the pandemic

According to the newly released data of the Haiphong Statistics Office, the total retail sales of consumer goods and services in October 2020 reached VND12.84 trillion ($558.26 million), up 2.0 per cent against the previous month and 9.74 per cent higher than in the same period last year. Accumulated since the beginning of the year to the end of October 2020, the industrial production development index increased by 14.18 per cent over the same period last year. Of this, manufacturing increased by 15.72 per cent, contributing 14.39 per cent to general growth and becoming the mainstay for the economic growth of the city in 2020. Haiphong, by its nature, is very strong in this field, especially focusing on attracting large foreign direct investment (FDI) inflows.

With the COVID-19 pandemic disrupting the global and Vietnamese economies, the efforts of Haiphong governance to ensure the people’s health problem and the economic growth have been highly lauded by the prime minister and the government.

being safe in covid 19 haiphong a bright spot on vietnams industrial property map
Haiphong is promoting tech-enhanced and eco-friendly industrial parks

Strong industrial development in the direction of high technology and environmental friendliness. Numerous economic groups, well-known investors, investment in modern manufacturing technology make Haiphong a thriving economic and service centre, especially for port and logistics services.Haiphong has affirmed its position as an international port city, a major industrial center of the country, an important traffic hub and main gateway to the ocean of the North via strong investments in its synchronous and modern seaport system and traffic infrastructure. Large-scale traffic projects such as Hanoi-Haiphong Expressway, Tan Vu-Lach Huyen Highway, as well as the highway connecting Halong-Hanoi-Haiphong, Lach Huyen international gateway port, and Cat Bi International Airport, which were put into operation have created a great boost to the socioeconomic development of the city.

By synchronising transport and social infrastructure, along with open policies to the investors, Haiphong not only become a convergence point for leading global brands in industry and technology but also a destination for numerous large corporations and strong brands in the field of real estate and services.

The 16th Party Congress of Haiphong for the 2020-2025 tenure, set the objectives to set up 15 new industrial zones (IZs) by 2025, with a total area of more than 6,400 hectares in eight districts. The three IZs with the largest area (more than 1,450ha) will be built in Tien Lang district. Vinh Bao district will also open three more IZs of 900ha in total.

A representative of Haiphong Economic Zone Authority said that 11 of the 15 new IZs are being implemented following the investment process. For instance, the investment dossier of Xuan Cau IZ in Cat Hai town (800ha) is being completed and submitted to the prime minister by the Ministry of Planning and Investment. For the 200ha Nam Trang Cat IZ (Hai An district) and the 650ha third phase of Trang Due IZ (An Lao district), the city has transferred its application to the ministry’s appraisal.

With its current progress, along with the commitment and drastic actions to settle procedures, Haiphong strives to fill up its 12 existing IZs by 2025 (more than 4,400ha) and reach 30 per cent occupancy at new IZs. By then, these production centres will attract about $40 billion of accumulated investment capital while export turnover reaches $30 billion.

As one of the 12 existing IZs, Nam Dinh Vu Industrial Park (IP) – Phase II (960ha) is also being urgently deployed by its owner, Sao Do Group, to complete 200hectares of infrastructure for early handover to partners. Nguyen Thanh Phuong, general director of Sao Do Group said, “Currently, the first phase of 370ha is over 85 per cent occupied and reservations have been steadily flowing in for Phase II from numerous investors.”

being safe in covid 19 haiphong a bright spot on vietnams industrial property map
Nam Dinh Vu IP enjoys seamless connectivity to the region and the globe

The great advantage of Nam Dinh Vu IP for investors is its favourable geographic location and connectivity to external infrastructure systems such as expressways, Tan Vu-Lach Huyen Bridge, Cat Bi airport, and Lach Huyen deep-sea port.

In addition, the most unique selling point of Nam Dinh Vu IP is its internal port called Nam Dinh Vu Port. This is the main factor assisting secondary investors in drastically reducing production costs by diminishing transportation costs and saving time. During the COVID-19 pandemic, Nam Dinh Vu IP has intensified the application of technology to attract investment, working with investors through diverse platforms and the internet. One of the most noteworthy novelties was the application of VR technology that enables investors to view the industrial park in great detail via a computer screen. Customers can see details about VR360 here.

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