Illustrative image (Photo: VNA) The market isimmune from COVID-19 as many new industrial parks (IPs) have been recently openedand major projects begun operations, despite the complex developments of theongoing pandemic.
New deals havebeen seen this year, notably Singaporean real estate solutions providerBoustead Projects acquiring 49 percent of shares in the Yen Phong IP in northernBac Ninh province, at a cost of some 6.9 million USD.
Another was ajoint venture between two major logistics and industrial real estate managementfirms - ESR Cayman Limited and BW Industrial Development JSC - to own anddevelop 240,000 sq m at the My Phuoc 4 IP near Ho Chi Minh City.
Various projects inthe pipeline also affirm the market’s vibrancy.
Figures from the Ministryof Planning and Investment show that Vietnam had 370 IPs on a total area of 115,200ha as of the end of the first quarter of this year, which helped createapproximately 3.6 million new jobs.
Dozens ofindustrial projects in 13 cities and provinces received approval during the period.
Bac Ninh is hometo the largest number of upcoming projects, with five new IPs. Of note, Que VoIII will have an additional 208.54 ha with a combined investment of 120.87million USD.
New IPs will alsocome into operation elsewhere, such as Vinh Phuc in the north, Quang Tri in thecentral region, Dong Nai in the south, and Long An in the Mekong Delta.
According toSavills Vietnam, new M&A deals and supplies are still on the rise.
Leading industrialproduction projects came in May from investors in Hong Kong (China) andSingapore to the two northern provinces of Quang Ninh and Bac Giang.
Efforts made bythe Vietnamese Government and businesses in realising the dual targets ofcurbing the spread of COVID-19 and maintaining operations are hoped tofacilitate industrial production, experts said./.
VNA
