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Viet Nam
Industrial Park Situation
Text by Saito Hiroshi
The 19th most FDI (Foreign Direct Investment) attractive province - Hung Yen Province
When manufacturing companies expand into Vietnam, the selection of an industrial park in a specific region is an important consideration. There are certain provinces in Vietnam that are particularly enthusiastic about attracting foreign direct investment (FDI). I would like to introduce a few examples of such provinces. This time, I will introduce the situation in Hung Yen Province, which is located in the northern region near Hanoi and has an advantageous location.
1. Location/Area/Population :
Hung Yen Province is located in the heart of the Red River Delta region in northern Vietnam. The provincial capital is Hung Yen City, which is located 64 km southeast of Hanoi City. Hung Yen Province borders Bac Ninh Province to the north, Hanoi City to the northwest, Thai Binh Province to the south, and Ha Nam Province to the southwest. The total area of the province is 926 square kilometers, and the population is approximately 1.15 million people.
2. Industrial Parks in Hung Yen Province:
Currently, there are 11 industrial parks located within Hung Yen Province：
1: Thang Long II Industrial Park
2. Pho Noi A Industrial Park
3. Pho Noi B Industrial Park
4. Yen My Industrial Park
5. Yen My II Industrial Park
6. Nhu Quynh A Industrial Park
7. Nhu Quynh B Industrial Park
8. Minh Duc Industrial Park
9. Minh Quang Industrial Park
10. Tan Dan Industrial Park
11. Ly Thuong Kiet Industrial Park
The Li Tu Kiet Industrial Park in Hung Yen Province is home to the Ecoland Industrial Park, which is being developed through a partnership between the EcoPark Group (TDH Ecoland JSC) and the Japanese construction and investment firm JCM (Japan Construction Management). The development of the Ecoland Industrial Park commenced in 2023. This Ecoland Industrial Park is located adjacent to the interchange of the Hanoi-Haiphong Expressway, giving it an excellent location with easy access to both Hanoi city and Haiphong port, which is very advantageous for manufacturing companies. Additionally, since the Japanese company JCM is involved in the management, it provides comprehensive support services for Japanese companies looking to establish operations there, such as assistance with licensing and other requirements.
3. Characteristics of Hung Yen Province:
Hung Yen Province has become a hub for major highways in northern Vietnam, including the Hanoi-Haiphong Expressway which crosses the province from east to west. The expressway interchanges in Hung Yen Province provide excellent accessibility, with travel times of around 30 minutes to downtown Hanoi, 45 minutes to Noi Bai International Airport, and 60 minutes to Haiphong Port. Additionally, the 102 km of railway running through Hung Yen Province connects Hanoi to Hung Yen, Hai Duong, and on to Haiphong Port, enabling efficient freight transportation and reducing logistics costs. Hung Yen Province’s strategic location and connectivity to major transportation infrastructure, including expressways and railways, make it a key hub linking Hanoi, the airport, and the seaport of Haiphong. This advantageous geographic positioning is a significant asset for industrial development in the province.
4. Japanese manufacturing companies operating in Hung Yen Province:
Major Japanese manufacturing companies that have established operations in Hung Yen Province include Panasonic, Kyocera, Hoya Glass, TOTO, and Daikin (Second Thang Long Industrial Park). The Second Thang Long Industrial Park is being developed by Sumitomo Corporation, which holds a 92.2% stake as the developer. As a result, the majority of companies operating in this industrial park are Japanese enterprises.
5. Housing situation in Hung Yen Province:
Viet Hung Urban Development and Investment JSC , a consortium of 8 companies, is the developer of the large-scale urban development project called “Ecopark Project”. Within this project, Nomura Real Estate has participated in the residential development. The Ecopark Project spans a total site area of approximately 500 hectares, making it the largest township development in Vietnam. The project area is designed to include residential, office, commercial, educational, and recreational facilities, as well as over 100 hectares of green spaces and waterfront areas. Ecopark also features sports and leisure facilities such as a swimming pool, tennis courts, gym, an 18-hole golf course, and a cinema. The complete development of all neighborhoods is scheduled for 2030. Nomura Real Estate is participating in the construction of a residential component, which involves building 5 condominium buildings with a total of around 3,000 units on a 40,000 square meter site. This Nomura project is planned to commence construction in the second half of 2021 and be completed and handed over in 2024-2025.
6. Educational situation in Hung Yen Province:
The Ecopark Project has attracted international schools like Chadwick International, as well as universities such as British University Vietnam (BUV) and Tokyo Human Health Science University Vietnam. This means that the project provides schools suitable for the children of expatriate residents.
Hung Yen province is not only focused on developing industrial parks, but has also strategically planned the Ecopark township development with a long-term vision to attract foreign companies. They have taken into consideration the living and educational environment for expatriate residents. The location of Ecopark is also advantageous, as it has good accessibility to both Hanoi city and Haiphong port via the expressway, enabling cost savings in logistics. Furthermore, with the support of the Hung Yen Industrial Park Management Board, a Japan Desk has been established, creating favorable conditions for Japanese companies to invest in the area.
齊藤公(Saito Hiroshi)
Business Advisor
G.A. Consultants Vietnam Co., Ltd
After graduating from university, he joined a PHP research institute and served as the head of the New York office. He then worked on the “Nagoya Port Redevelopment Project” at a subsidiary of the Chubu Nippon Broadcasting (CBC) company. He later shifted his base to Asia, where he was involved in the launch of “FM96.3” in Singapore, and the creation of “Hello Vietnam” and “Invest Asia” magazines in Vietnam. He then joined BW Industrial Development JSC, Vietnam’s largest rental factory development company, where he was responsible for attracting Japanese manufacturing companies. Currently, he is active as a consultant for the entry of Japanese companies at “G.A. Consultants”, one of the longest-standing Japanese HR consulting firms in Vietnam.
