Vinhomes to start construction on $155 mln industrial park project in northern Vietnam in early 2026
Vinhomes, the real estate arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to commence construction of an industrial park in Hai Phong in the first quarter of 2026.
According to its environmental impact assessment report, Vinhomes Haiphong Industrial Park Investment JSC will carry out site clearance for phase 1 of the Tan Trao Industrial Park project from the second quarter of 2025 through the end of the year.
The location of Tan Trao Industrial Park in Hai Phong city, northern Vietnam. Photo courtesy of Vinhomes.
Phase 1, with a projected investment of VND4.06 trillion ($155 million), will span 226 hectares in Kien Thuy district, within Hai Phong’s Southern Coastal Economic Zone.
The industrial park is expected to commence operations in the second quarter of 2030.
In addition to the Tan Trao IP, Vinhomes (HoSE: VHM) is also developing Ngu Phuc IP Phase 1 in the city's Nghi Duong commune. The 238-hectare project has a total investment of VND5.67 trillion ($216.8 million) and is likewise scheduled for completion by Q2/2030, according to Hai Phong authorities.
Since 2020, Vingroup has identified industrial real estate as a key long-term growth driver. The firm currently operates a 335-hectare industrial zone in Cat Hai, home to EV maker VinFast’s plant.
Hai Phong is one of northern Vietnam’s largest industrial hubs. Following its administrative merger with neighboring Hai Duong province, the new Hai Phong city now hosts over 15 industrial parks and has attracted 1,850 foreign-invested projects totalling nearly $45 billion in registered capital.
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