Foreign players dominate Vietnam’s modern warehouse market
Foreign developers currently dominate the modern warehouse market in Vietnam, accounting for 74.5% of market share by net leasable area in 2023, according to Hanoi-based FiinGroup, a leading provider of financial data.
The three largest foreign-owned players – Mapletree, BW Industrial and SEA Logistic Partners (SLP) – account for 46% of the market’s total net leasable area (NLA).

A BW Industrial warehouse. Photo courtesy of the firm.
Mapletree and BW Industrial are the two biggest developers in Vietnam's modern warehouse sector, utilizing their industry knowledge and financial strength for growth, FiinGroup said in a recently-released report on warehousing.
Mapletree has been expanding its warehouse portfolio aggressively in Vietnam, with mega logistic centers in Bac Ninh, Hung Yen, and Binh Duong provinces, each containing 12-24 warehouses.
Meanwhile, BW Industrial and NPL Logistics are two rising stars in the modern warehouse market in Vietnam, with 22 new warehouses in both the north and the south of the country established during the 2020-2022 period.
The market research company assessed that warehousing remains one of the most promising logistics segments in Vietnam, attracting investments from both local and foreign investors, thanks to strong external trade, manufacturing and retail.
Despite the global economic slowdown, Vietnam’s warehousing sector has continued to expand, driven by increased demand for cold storage facilities, particularly from the seafood processing industry and fresh food sectors, which account for up to 70-80% of the demand for cold storage in Vietnam.
Modern warehouse supply witnessed a CAGR of 23% in 2020-2023 and remains strong, with a growth rate of 7%, noted the FiinGroup report.
Investments in the pipeline
The modern warehouse market has recorded active participation of both local and foreign investors with mega facilities. The most active players are Mapletree, SLP, JD Property, Gemadept and Transimex.

SLP Park in Hai An district, Hai Phong, northern Vietnam. Photo courtesy of the firm.
With the recovery of the global economy and rising demand for high-quality storage solutions, the sector is set to attract significant investments.
Both local and foreign investors are now aggressively developing logistics facilities, especially modern warehouses, to meet the rising demand of manufacturing giants, modern trade retail chains, logistics companies, and solid trade activities.
FiinGroup recorded 25 upcoming projects in the period 2024-2027, with an additional net leasable area of 1.87 million sqm. The two biggest projects are being developed by BW Industrial in Dong Nai province and by Mapletree in Bac Ninh province, with respective expected commercial operational dates in 2026 and 2025.
Modern warehouses are concentrated in manufacturing/logistics hubs. The top five major provinces include Binh Duong, Long An, Bac Ninh, Hung Yen and Dong Nai.
The south had the biggest area of modern warehouses at nearly 2.26 million sqm as of 2023, with the key players being Mapletree, nPL Logistics, BW Industrial, and NKV Nippon Konpo Vietnam.
The north came next with over 1.47 million sqm as of end-2023, with the key players being Mapletree, HTNS, nPL, and NKV Nippon Konpo Vietnam. In the central region, there was 140,000 sqm as of 2023, dominated by Thilogy and NKV Nippon Konpo Vietnam.
Logistics, industrial, and retail are the top end-use customer segments supported by the growth of e-commerce and the restructuring of the global supply chain, according to FiinGroup.
- Read More
Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026
Japanese-backed Aeonmall Vietnam is ramping up construction on its Aeon Mall Ha Long project in Quang Ninh province, home to Ha Long Bay, with an aim to open it to the public by end-2026.
Industries - Tue, September 16, 2025 | 3:54 pm GMT+7
Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex
A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.
Industries - Tue, September 16, 2025 | 2:44 pm GMT+7
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7