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Ho Chi Minh City
Tuesday, October 4, 2022

Hanoi to establish 2-5 new IPs by 2025

By Le Hoang

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HCMC – The Hanoi government has approved a plan to establish an additional two to five new industrial parks (IPs) in the 2021-2025 period.

Accordingly, the five IPs comprise Sach Soc Son in Soc Son District, Dong Anh in the district of the same name, Bac Thuong Tin and Phung Hiep in Thuong Tin District and the extended Phu Nghia in Chuong My District.

The establishment of these IPs will help attract investment and boost industrial production, accelerating the industrialization and modernization process in the city. The plan is also aimed at adopting strategies to develop IPs in the city in line with the goals of socioeconomic development and land use in the city and ensuring the appropriate and effective development of science and technology, boosting the development of the industry sector.

As of December last year, IPs in Hanoi attracted nearly 165,000 workers, including 1,100 foreigners. These IPs have contributed significantly to the industrial and socioeconomic development.

The city is now home to 10 operational IPs covering a total area of nearly 1,350 hectares. Of them, nine IPs with a combined area of 1,270 hectares have an occupancy rate of nearly 100% each.

As of early December last year, IPs in Hanoi attracted more than 700 projects, including 303 foreign investment projects and nearly 400 domestic investment projects with total registered capital of nearly US$6.1 billion and VND18 trillion (US$790 million), respectively.

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