In recent times, Thai Nguyen province has become a thriving hub for investment, with an increasing number of both domestic and international businesses choosing the province to establish their production facilities. This has energized the ready-built factory rental market in Thai Nguyen more than ever.

1. FDI in Thai Nguyen

After 2 years of the COVID-19 pandemic, Thai Nguyen is undergoing substantial transformations. As of September 14, 2023, the Management Board of Thai Nguyen Industrial Parks has approved 25 new Investment Registration Certificates for foreign direct investment (FDI) projects, totaling a registered investment capital of $170.95 million. Alongside the approval of new FDI projects, the Management Board has also granted 39 adjustments to Investment Registration Certificates, including 6 modifications that involve an increase in total investment capital by an additional $6.59 million, and 33 adjustments for other aspects.

Thai Nguyen Province has attracted 25 FDI projects with a total registered investment capital of $170.95 million

Over a decade, Thai Nguyen has advanced from the 45th to the 4th position among provinces in FDI investment capital. Notable investments include:

• Hengxin Vietnam ($9.8 million)
• Messer Hai Phong – Thai Nguyen branch ($9.9 million)
• Samsung Electronics Factory ($2.27 billion)
• Dowooinsys Vina ($30 million)
• Sunny Infrared Vietnam ($9.5 million)
• Diem Thuy Industrial Park Service Center ($520 billion)

Thai Nguyen actively promotes investment and enhances the infrastructure of industrial parks and industrial clusters

2. What makes Thai Nguyen an ideal investment location?

The attraction of numerous FDI enterprises to Thai Nguyen can be attributed to a combination of factors:

2.1. Favorable geographical location

Thai Nguyen serves as a pivotal point for socio-economic interactions between the mountainous midlands and the Northern Delta. Its prime location boasts easy access, being 50 km from Noi Bai international airport, 200 km from the Chinese border, 75 km from Hanoi CBD, and 200 km from Hai Phong port. A network of roads, railways, and fan-shaped rivers, connecting Thai Nguyen to provinces and cities. This includes National Highway 3 to Hanoi, Bac Kan, Cao Bang, and Vietnam-China border gates; National Highway 1B to Lang Son; Highway 37 to Bac Ninh and Bac Giang; Da Phuc-Hai Phong river system; and the Thai Nguyen – Hanoi – Lang Son railway.

The advantageous geographic location makes Thai Nguyen a top choice for numerous business investors.

The favorable geographical location combined with the development of road and waterway transportation has helped Thai Nguyen establish a comprehensive transportation network, creating favorable conditions for the circulation and transportation of goods from Thai Nguyen to neighboring areas. This helps investors save time and costs when choosing Thai Nguyen for renting production warehouses.

2.2. Abundant and high-quality labor resources

The appeal extends to its abundant and skilled labor force, as evidenced by Thai Nguyen ranking 5th nationwide in the 2021 labor-training index with a notable 6.98 points. In 2022, the province boasted a 71% rate of trained workers, surpassing the national average.

The 2021 labor-training index in Thai Nguyen ranks 5th in the country

As international “giants” increasingly invest in Thai Nguyen’s electronics, refrigeration, and supporting industries, the emphasis on enhancing human resource quality not only meets market demands but also cultivates a forward-thinking, industrially adept generation aligned with the demands of the industry 4.0 era.

3. Top industrial parks in Thai Nguyen province

Yen Binh Industrial Park:

Yen Binh Industrial Park, covering an area of 698 hectares within the Yen Binh Urban, Industrial, Agricultural, and Service Complex Project, is a pivotal component of the expansive development initiative by Yen Binh Investment and Development Joint Stock Company. As part of this endeavor, an area exceeding 8,000 hectares in Pho Yen City and Phu Binh district is earmarked for future development.

– Address: Dong Tien Commune, Pho Yen City, Thai Nguyen

– Developer: Yen Binh Investment and Development Joint Stock Company

– Land use term: 50 years

– Investment-attracting industries:

• High-tech industries;
• Electricity and electronics industries;
• Mechanical engineering;
• Exact mechanics;
• Clean industries

Factory for rent in Thai Nguyen – GNP Yen Binh 1 and GNP Yen Binh 2

Song Cong I Industrial Park

Song Cong I Industrial Park plays a crucial role in the structural transformation of Thai Nguyen province, actively contributing to the local economic landscape. To encourage and accommodate both domestic and international investors, leaders at various levels have instituted numerous preferential policies.

– Total area: 195 hectares

– Address: Song Cong City, Thai Nguyen Province

– Developer: Thai Nguyen Industrial Park Infrastructure Development Joint Stock Company

– Land use term: 50 years

– Investment-attracting industries:

• Mechanical, metal, steel, zinc
• Electrical and electronics industries,
• Automotive manufacturing and assembly industries
• Software industries
• Other high-tech industries

Factory for rent in Thai Nguyen – Song Cong I Industrial Park

Song Cong II Industrial Park

Song Cong II Industrial Park has flat terrain, making it convenient for moving and circulating goods from the industrial park to surrounding areas. In the future, Song Cong II Industrial Park will welcome nearly 30,000 workers, and the investment capital will be increased to 1 billion USD.

– Total area: 250 hectares

– Address: Tan Quang commune, Song Cong city, Thai Nguyen province

– Developer: Thai Nguyen Industrial Park Infrastructure Development Joint Stock Company

– Land use term: 50 years

– Investment-attracting industries:

• Mechanical, metal, steel, zinc
• Electrical and electronics industries,
• Automotive manufacturing and assembly industries
• Software industries
• Other high-tech industries

Factory for rent in Thai Nguyen – Song Cong II Industrial Park

4. Factory for rent in Thai Nguyen – GNP Yen Binh 1 and GNP Yen Binh 2

GNP Yen Binh 1 and GNP Yen Binh 2 Industrial Centers, developed by Gaw NP Industrial, present a ready-built factory project for rent within the Yen Binh Industrial Park.

Strategically located adjacent to the Hanoi – Thai Nguyen highway, with direct connectivity to the Yen Binh intersection, GNP Yen Binh 1 and GNP Yen Binh 2 offer convenience for transportation and trade of goods.

Key distances from GNP Yen Binh 1 and GNP Yen Binh 2:

• To Vietnam – China border gate: ~140 km (140 minutes)
• To Noi Bai International Airport: ~30 km (30 minutes)
• To Hanoi CBD: ~60 km (60 minutes)
• To Cai Lan Port: ~150 km (110 minutes)
• To Lach Huyen Deep-sea Port: ~160 km (120 minutes)
• To Cat Bi International Airport: ~160 km (120 minutes)

Specification of GNP Yen Binh 1 and GNP Yen Binh 2:

– Total area: 29.5 hectares

– Minimum leased area: From 2,500 m2

– Floor loading: 2 tons/m2

– Clear height: 6.5m to 10m

– Electricity supply: 3 phase, capacity: 250-500 KVA

– Advanced fire fighting and protection system, 24/7 security

– Facilities: A public canteen, ATMs…

– Preferential industries:

• Producing metal & plastic molds for cell phones & other electronic devices
• Producing cell phones, tablets, digital cameras & cell phone spare parts
• Producing electronic components
• Producing automation equipment (for electronics and cell phones); Machining and assembly equipment for electronic components & cellphones spare parts
• Manufacturing semiconductor & LCD devices
• Mechanical machining for cell phones and other mobile devices
• Clean industries, supporting industries, high-tech industries

– Incentives: Tax exemption for 2 years and 50% CIT reduction for 4 subsequent years

Infrastructure of the GNP Yen Binh 1 factory

The factory includes office space

5. Summary

Thai Nguyen has become a significant destination for FDI enterprises, thanks to its favorable location, skilled labor force, industrial zones, and large-scale rental factory projects such as GNP Yen Binh 1 & 2. Renting factories in Thai Nguyen not only helps businesses save costs but also provides favorable conditions for development and business expansion.

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