Efficiency at heart of IP advancements

Vietnam's new wave of industrial parks signals a strategic shift from land expansion to quality-driven growth, as infrastructure upgrades and selective planning aim to capture high-value global manufacturing investment.

- By Phuong Thu

Last week's groundbreaking of the Phuc Yen Industrial Park (IP) in Phu Tho province has underscored a long-term vision behind Vietnam's development cycle. Covering over 111 hectares with nearly $80 million in investment, the venture is designed as an integrated industrial ecosystem.

Its proximity to the Noi Bai International Airport and direct access to the Noi Bai-Lao Cai expressway also offer strong logistical advantages for investors.

Nguyen Hai Tung, general director of VISIZ and representative of the joint venture developer, said, “The ambition is to create a modern industrial ecosystem, where infrastructure and digitalisation are integrated from the outset. This approach allows investors to operate more efficiently and to align with global standards that are becoming increasingly stringent,” he said.

“We are committed to mobilising all available resources to ensure that the project is delivered on schedule, with high-quality infrastructure that can immediately accommodate secondary investors. At the same time, we see this as a long-term platform, where businesses can grow sustainably rather than merely establish short-term operations.”