Bac Ninh is working to support domestic private sci-tech enterprises in accordance with the Party Central Committee's policy, with the goal of making the province a role model in promoting and assisting the private sector.
CBRE Vietnam experts have forecast a continued annual rise of 3-7% in industrial land rental prices in the South, accompanied by a projected yearly increase of 0-4% in pre-built warehouse and factory rentals over the next three years in Vietnam.
Demand for industrial land remains high, especially in the southern region, with ready-built warehouses and factories increasingly attracting investors, according to Savills Vietnam.
Under a planning approved by the Prime Minister for the 2021-2030 period with a vision to 2050, the northern province of Quang Ninh has 23 industrial parks (IP), the largest number among localities across the country.
The industrial real estate sector has good prospects in 2023 due to short supply, a shift in the supply chain to Vietnam and its favourable investment policies, experts said.
The Ho Chi Minh City Industrial and Export Processing Zones Management Board (HEPZA) has set a target to increase the average investment per hectare of industrial land to 15 million USD by 2025 from the current 6.32 million USD.
The supply of industrial property in the south is expected to rise further in the next five years to capitalise on the increasing demand in the region, and further strengthen its leading position in terms of supply, according to JLL Vietnam.
Aside from garments, aquaculture and agriculture, the property-related sectors like industrial parks and logistics will enjoy the positive effects of the Trans-Pacific Partnership agreement.
