Central Vietnam city launches first industrial park project in 22 years

Vietnam’s central coastal city of Danang has broken ground on its first industrial park in 22 years, marking significant progress in its industrial development strategy.

The Hoa Ninh Industrial Park project is being developed by Thanh Binh Phu My JSC, with total investment of VND6.2 trillion ($243 million).

Spanning 400 hectares in Hoa Ninh commune, Hoa Vang district, the project is strategically positioned approximately 10 kilometers from the under-construction Lien Chieu deep-water port and its liquid bulk terminal.

"The strategic location of Hoa Ninh Industrial Park will not only help businesses optimize logistics costs and enhance supply chain connectivity but also lay the foundation for a sustainable, green, and environmentally friendly industrial park," Nguyen Thao Nhi, chairwoman and general director of Thanh Binh Phu My JSC, remarked at the groundbreaking ceremony on Tuesday.

Thanh Binh Phu My JSC is also the developer of Phu My 3 Specialized Industrial Park in the southern province of Ba Ria-Vung Tau, which is well-known for its dedicated, international standard infrastructure and services.

Nhi said Hoa Ninh and Phu My 3 have many similarities, especially their strategic locations.

Phu My 3 boasts vital elements in support of heavy industries like the international Cai Mep-Thi Vai deep-water port system, stable power supply, abundant natural resources, and good transportation access.

Le Trung Chinh, Chairman of the Danang People’s Committee, stated that the project is expected to become one of the most modern IPs in the central region. It is projected to attract high-tech and environmentally friendly industries while generating thousands of high-quality jobs for local residents.

Furthermore, he emphasized that the development of the industrial park will play a crucial role in advancing Danang’s strategy to establish itself as an economic and industrial hub for both the central region and the country.

Hoa Ninh is the latest industrial park project launched by Danang since the establishment of the Hoa Cam IP in 2003.

Currently, Danang has six industrial parks, one concentrated information technology park, and one high-tech park, with a total area of approximately 2,300 ha. The occupancy rate of these industrial parks is 88%.

According to the local statistics office, the service sector accounted for the largest share of Danang’s economy in 2024, at 71.14%, followed by the industrial and construction sectors (18.5%) and the agriculture, forestry, and fisheries sector (1.77%).

Many major projects are set to break ground in the central coastal city of Danang in the first half of the year, with total investment exceeding VND150 trillion ($5.88 billion).

Earlier this month, Nguyen Van Quang, Party chief of Danang, said these include the Lang Van International Resort project worth over VND44 trillion ($1.72 billion); the Asia Park complex project (more than VND43 trillion or $1.68 billion); tech giant FPT Group’s projects (over VND5 trillion or $196 million); high-end coastal, riverside, and Son Tra peninsula resort projects (over VND60 trillion or $2.35 billion); and military-run telecom group Viettel’s IT park project (over VND2 trillion or $78.45 million).