Vietnam's Industrial Boom: KCN, LŌ-GOI, Vingroup Expand in Haiphong
Vietnam's industrial sector is thriving, attracting significant investor interest, as evident in recent expansion projects and new facilities. Knight Frank Vietnam's Alex Crane has observed high occupancy rates and rising rents in the sector.
KCN Vietnam kicked off its expansion with a ceremony on October 1 for the An Phat Industrial Zone in Haiphong. The project, spanning 8.9 hectares, offers over 60,000sq.m of leasable space, featuring high-quality, ready-built factories and warehouses. Notably, it introduces two-story factory models and flexible sizes, a first for KCN Vietnam.
LŌ-GOI Group, another key player, opened its first two-storey industrial complex in Bac Ninh province on September 22. Spanning 12.1 hectares, it boasts over 115,500sq.m of gross leasable area. Matthew Jackson, Northern Regional general director of LŌ-GOI Group, emphasized Vietnam's robust economic fundamentals and rising demand for infrastructure as key drivers.
Vingroup, a major investor, broke ground on the Tan Trao Industrial Park in Haiphong on September 26, with total investment exceeding VND4 trillion ($157 million). The park aims to enhance Haiphong's industrial competitiveness by targeting high-tech sectors and integrating with a strategic energy project.
These projects, including KCN An Phat and Tan Trao Industrial Park, are expected to contribute to Haiphong's sustainable industrial growth and reinforce Vietnam's status as a top destination for high-value manufacturing, as noted by Hardy Diec, COO of KCN Vietnam.
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