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Haiphong boasts distinctive advantages in attracting FDI

August 22, 2023 04:49 AM

Haiphong maintained its position as a leading destination for foreign direct investment (FDI) in the country during the first half of 2023, with more than USD 1.811 billion, according to the Ministry of Planning and Investment.

According to Haiphong Economic Zones Management Authority, in 2022, Haiphong ranked fourth nationwide in attracting FDI, reaching approximately $2.5 billion. The northern port city has firmly positioned itself as the top investment destination in the country’s industrial manufacturing sector.

Haiphong has long been a home for many giant FDI investors. Those that have established bases in the city include LG Group in Korea, Pegatron Group in Taiwan, Bridgestone Group in Japan, and Regina Miracle Group in Hong Kong.

The expansion of FDI giants in Haiphong is among the factors driving the influx of vendors, suppliers and small- and medium-sized enterprises (SMEs) into the port city.

Unlike the groups who typically make substantial investments in their own facilities, these businesses opt to lease ready-built factories and warehouses.

This leasing option is particularly suitable for SMEs and new market entrants since it allows them to save time and optimise various costs, such as investment and management fees, maintenance expenses, and expenditure on construction.

According to Nguyen Phuong Thao, leasing and asset management director at Gaw NP Capital, the demand for ready-built factories and warehouses is projected to keep rising.

“The end of 2023 will likely witness an upsurge in the supply of such facilities. This will put pressure on rents and occupancy rates, leading to a probable stabilisation of rental prices,” said Thao.

Located in Haiphong, GNP Nam Dinh Vu Industrial Center provides premium ready-built factories and warehouses

Thao stated that the GNP Nam Dinh Vu Industrial Center project invested in by Gaw NP Capital has been successful in attracting numerous inquiries from companies looking to lease ready-built factories and warehouses.

“There is a growing demand for factory and warehouse rentals, especially from SMEs, but they are cautious about factors such as price, project location, supply chain capabilities, and sustainability factors,” Thao said.

Distinctive advantages in investing in Haiphong

Situated on the strategic economic corridor along the northeastern coast, Haiphong serves as the primary import and export gateway for the northern region. Thanks to its proximity to the Chinese border, which is merely 180km away, the city has been acknowledged as a potential China+1 manufacturing hub.

It is currently the only city in the North that boasts all five major modes of transport, including roads, waterways, railways, inland waterways, and airports.

National highways No.5 and No.10, Hanoi-Haiphong Expressway, Haiphong-Quang Ninh Expressway, Hanoi-Haiphong Railway, Cat Bi International Airport, and Lach Huyen Deepwater Sea Port are evolving into primary access points to the sea for the northern regions and linking international maritime transportation routes.

Additionally, the city also places emphasis on developing industrial infrastructure. At present, there are 14 operational industrial zones (IZs), and 15 more are planned that will cover a total area of over 6,200 hectares by 2025. Among them, Dinh Vu-Cat Hai Economic Zone encompasses the majority of the key IZs in Haiphong. This zone has received substantial infrastructure investment and utilises sustainable development models.

Haiphong shows off an outstanding business and investment climate, ranking third out of the 63 cities and provinces on the Provincial Competitiveness Index in 2022. In addition, the city secured second place in the Public Administration Reform Index with a score of 91.09 per cent in 2022.

Opt for ready-built factories and warehouses for lease in GNP Nam Dinh Vu

GNP Nam Dinh Vu is a distinguished ready-built factory and warehouse project located in Nam Dinh Vu Industrial Park, one of the largest IZs in Haiphong. Developed and invested in by Gaw NP Capital, the project consists of a total net leasable area of 107,000 square metres. Thanks to its flexible rental space and complete infrastructure, GNP Nam Dinh Vu is well-suited for a diverse range of industries. The project is now ready for handover.

Construction progress at GNP Nam Dinh Vu Industrial Center as of August 2023 with 99 per cent built

GNP Nam Dinh Vu Industrial Center provides outstanding benefits that include a column-free design to maximise production space, spacious internal roads, EDGE energy-reduction standards, advanced fire protection systems, and round-the-clock security. It is ideal for both export processing enterprises (EPEs) and non-EPEs.

GNP is committed to offering legal and policy assistance to any foreign companies that are shifting their operations to Vietnam. The team will aid in guiding businesses through the company setup process, obtaining essential business licences, and producing any other required documentation.

GNP Nam Dinh Vu is empowered by Gaw NP Capital, a $200 million platform backed by Gaw Capital Partners, which is a global real estate private equity firm that is well-known for developing and operating almost 1 million sq.m of industrial space, along with NP Capital Partners, a reputable real estate firm with a strong network and development capability in Vietnam.

Along with GNP Nam Dinh Vu, GNP is also developing many other projects, such as the GNP Dong Van 3 Industrial Center, an integrated factory and warehouse in Ha Nam province, and the GNP Yen Binh 1 and 2 ready-built factories for lease in Thai Nguyen province.

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