International consortium to promote hi-tech investments in southern Vietnam IP

Four companies from Vietnam, Australia and Singapore will jointly promote high-tech investments at the Duc Hoa 3 Industrial Park in Long An province, a manufacturing hub in southern Vietnam.

Him Lam JSC (HimLam), Truongson Land JSC (TruongsonLand), Core8 Information Australia Pty Ltd (Core8), and Vietnam International Estate Holdings Pte. Ltd (VIEH Singapore) have signed an agreement to transform the 700-hectare park into a key destination for global leaders in the biotech and semiconductor industries.

The partnership aims to leverage Core8 Australia's expertise in high-tech and biotech sectors and VIEH Singapore's international network to attract major semiconductor and biotechnology companies, particularly from Taiwan.

Duc Hoa 3 IP, located near Ho Chi Minh City, benefits from well-connected transport links, including proximity to ports, airports and the Moc Bai border gate.

Developed by Him Lam, the IP will be operated by Truongson Land.

It will boast advanced facilities and a supportive investment climate, making it an attractive destination for global companies seeking to expand in Vietnam, the four firms said in a joint statement.

According to the Long An Economic Zone Authority, the province is home to 35 industrial parks with a combined area of 9,364 hectares. Of these, 26 are operational, covering a total area of 5,982 ha, with an occupancy rate of 67.72% as of June 2024.

The province aims to have 51 industrial parks by 2030, positioning itself as the second-largest locality nationwide in terms of industrial park area, behind Binh Duong province.

In H1/2024, industrial parks in the province attracted 48 investment projects – 37 foreign-invested ones worth over $220 and 11 domestic ones worth VND767 billion ($30.8 million).