Chinese giant Songshan Lake eyes 250ha high-tech industrial park in northern Vietnam

Songshan Lake, a major conglomerate based in China’s Guangdong province, has proposed to invest in a high-tech industrial park of up to 250 hectares in Vietnam’s northern province of Vinh Phuc.

At a Saturday meeting with provincial leaders, its chairman Xia Yuxiong said Songshan Lake operates across various sectors, including high technology, real estate, education, health care, and financial services. The group currently manages five high-tech parks in China, housing around 600 active enterprises.

Most notably, the group owns the Songshan Lake Hi-Tech Industrial Development Zone, spanning approximately 1,500 hectares with a total investment of over $2.4 billion. Home to numerous high-tech companies, research institutes, and innovation centers, the park is considered a model high-tech park in Guangdong province.

Xia Yuxiong expressed his hope that Vinh Phuc would facilitate the group’s research and survey efforts, aiming to develop a modern, well-integrated high-tech industrial park with ready-to-use infrastructure, factories, and support services, ultimately contributing positively to the province’s socio-economic development.

The proposed industrial park would focus on attracting high-tech projects in fields such as medical equipment, semiconductor components, PCB boards, robotics, and automation devices, he said.

After hearing the proposal, provincial leaders pledged to create favorable conditions for business and production activities, especially in infrastructure development for industrial parks and transportation, while improving the investment climate to attract high-quality projects.

As Songshan Lake’s proposal is in line with the province’s development orientation, the provincial People’s Committee has tasked relevant departments with supporting the group in its investment research and facilitating early project implementation.

Currently, Vinh Phuc has nine operational industrial parks, attracting over 480 FDI projects with total registered capital of more than $8.5 billion. Among these, 106 projects worth $1.7 billion are invested by investors from China (including Taiwan), ranking it fifth among countries and territories with investments in the province.

In Q1/2025, Vinh Phuc granted new investment registration certificates to five FDI projects totaling $21 million, and approved capital increases totaling $51.29 million for 10 projects, achieving 14.5% of the 2024 plan set by the provincial People’s Council.

In 2024, Vinh Phuc attracted $600 million in FDI, exceeding its target and marking a 50% rise compared to the original plan.