Vinhomes subsidiary to develop two industrial parks worth $383 mln in northern Vietnam
Vinhomes Hai Phong Industrial Park Investment JSC under Vinhomes, the housing arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to be the investor of two industrial parks worth VND10 trillion ($383 million) in the northern port city of Hai Phong.
The city's Party chief Le Tien Chau on Monday chaired a meeting on the two projects.
A meeting of Hai Phong's leaders on two industrial park projects on June 2, 2025. Photo courtesy of Hai Phong's news portal.
The Ngu Phuc Industrial Park (Phase 1) covers more than 238 hectares in Ngu Phuc and Kien Quoc communes, Kien Thuy district, with an estimated investment of over VND5.67 trillion ($217.27 million).
Meanwhile, the Tan Trao Industrial Park (Phase 1) spans over 226 hectares in Tan Trao and Kien Quoc communes, with over VND4 trillion ($153.28 million).
The implementation of the two projects is scheduled for five years, from Q2/2025 to Q2/2030. They are expected to attract tenants setting up shop in diverse sectors.
Chau emphasized that the two projects align with the master plan of Hai Phong and form part the city’s southern coastal economic zone.
Hai Phong authorities have approved the investment policy for the two projects and assigned relevant agencies to proceed with necessary procedures in accordance with regulations.
Vinhomes (HoSE: VHM) targets VND42 trillion ($1.63 billion) in net profit this year, up 20% from 2024, despite lingering challenges in the local real estate market.
The company guns for a 2025 revenue of VND180 trillion ($7 billion), up 76% year-on-year.
In 2024, Vinhomes posted a net profit of VND35.07 trillion ($1.36 billion) on a consolidated revenue of VND102.32 trillion ($3.97 billion), up 5% but down 1% year-on-year, respectively. The company contributed VND18 trillion ($698.62 million) to the state budget.
Established in November 2024, Vinhomes Hai Phong Industrial Park Investment JSC has a charter capital of VND15.16 trillion ($581.05 million).
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