HÀ NỘI — The expansion of industrial parks in northern Việt Nam is gaining momentum amid rising demand for production growth and supply chain shifts.

Provinces such as Hải Phòng, Bắc Ninh and Hưng Yên are witnessing a wave of large-scale infrastructure investments, signalling strong expectations for a robust recovery in domestic manufacturing.

Hòa Phát Group has recently received approval in principle to develop the Hoàng Diệu Industrial Park in Gia Phúc Commune, Hải Phòng City.

The project, Hòa Phát’s latest venture in industrial infrastructure, spans over 245 hectares and has a total investment capital of nearly VNĐ3.4 trillion (approximately $130 million). The developer is Hoàng Diệu Industrial Infrastructure Development JSC, a subsidiary of Hòa Phát. The construction timeline is projected to last 30 months.

The project aims to build and operate industrial infrastructure, offering land, workshops, warehouses and office space for lease. Hoàng Diệu Industrial Park is also targeting high-tech enterprises and environmentally friendly manufacturing activities.

Located adjacent to the Hà Nội – Hải Phòng expressway and major national highways, the park offers convenient access to Hà Nội, Bắc Ninh, Lạng Sơn, as well as Hải Phòng Port and major airports, thereby enhancing operational efficiency for tenants.

Earlier in 2024, Hòa Phát completed investment procedures for the Đồng Phúc Industrial Park in Bắc Ninh Province. This 355-hectare project, with a total investment of nearly VNĐ3.73 trillion, is being developed by Đồng Phúc Industrial Infrastructure Development JSC, another Hòa Phát subsidiary. Construction is scheduled to commence by the end of 2025, with investment promotion activities beginning in the first quarter of 2026.

As of mid-2025, Hòa Phát’s total industrial land bank has reached approximately 1,733 hectares, concentrated in key industrial provinces including Hưng Yên, Ninh Bình, Bắc Ninh and Hải Phòng.

Notably, Phố Nối A Industrial Park in Hưng Yên (over 689 hectares) and Hòa Mạc Industrial Park in Ninh Bình (131 hectares) have achieved occupancy rates of 97 per cent and 100 per cent, respectively. Yên Mỹ II Industrial Park in Hưng Yên, covering more than 313 hectares, has completed its second phase of infrastructure and is nearing 50 per cent occupancy.

In parallel with infrastructure development, the group is also advancing a social housing project within Yên Mỹ II Industrial Park. Covering around 31 hectares, the development will offer approximately 9,000 apartment units and 250 terraced houses, with construction scheduled to start in 2025.

Beyond its core steel business, Hòa Phát is seeing strong growth from its industrial real estate segment. In 2024, this segment contributed VNĐ2.12 trillion in revenue and VNĐ849 billion in after-tax profit, nearly double the previous year’s figures. — VNS