Ninh Binh – New industrial center
After completing the merger with Ha Nam and Nam Dinh, Ninh Binh is shaping a new position in the North, becoming a large-scale industrial - service - tourism center. This merger not only expands the economic scale but also creates an inter-regional value chain, attracting investment capital into high-tech production.
The province's transport infrastructure has been significantly improved with the North-South expressway and the Ninh Binh-Hai Phong-Quang Ninh coastal road, creating favorable connections with seaports, airports and major logistics centers.
With an area of nearly 4.000 km2 and a population of over 4,4 million people, Ninh Binh possesses an abundant young workforce, about 44.000–50.000 highly skilled people each year. This advantage, along with its location in the Northern key economic zone, has made the province a new bright spot on Vietnam’s industrial map.
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| Existing supply accumulated in Q3/2025. Source: Cushman & Wakefield |
According to Cushman & Wakefield’s real estate market report, the total cumulative industrial land supply by the third quarter of 2025 is about 5.082 hectares, and it is expected that nearly 3.000 hectares will be planned and built. Industrial land rental prices in Ninh Binh currently fluctuate between 130-140 USD/m2/rental period, a competitive level compared to neighboring localities such as Hoa Binh, Phu Tho or Thanh Hoa.
The presence of large technology corporations such as Honda, Canon, Hyundai, LG Display, etc. has contributed to the formation of an ecosystem of supporting production, creating strong demand for warehousing, logistics and high-tech jobs. Cushman & Wakefield noted that the demand for industrial land in Ninh Binh increased by an average of 5-7% per year, especially from investors from Korea, Japan, China, the US and Europe, affirming the increasingly clear role of the province in the global supply chain.
In that context, the integrated industrial park (IP) – logistics model is considered a strategic direction. Unlike traditional IPs that only focus on land leasing, this model simultaneously combines production, warehousing, transit and business support services. This approach not only helps shorten the time to set up a factory, but also reduces operating costs and enhances competitiveness for investors.
Experts say that if implemented synchronously, Ninh Binh can become a new “industrial-logistics satellite” in the South of Hanoi, supporting the spread of capital flows and relieving infrastructure pressure for traditional industrial provinces. This is also a development direction in line with the trend of planning the Northern economic region towards chain linkage and sustainable development.
Along with industrial development, Ninh Binh tourism continues to grow strongly, reaching more than 10 million visitors each year, including more than 2 million international visitors. Events such as the Tam Coc - Trang An Golden Tourism Week or Trang An Forestival have made Ninh Binh a prominent heritage destination in Asia.
The provincial government also promotes administrative reform with the models of "16-hour Green Channel" and "50% Green Channel" to help shorten the time for processing investment dossiers, along with preferential policies on corporate income tax and customs support, creating a competitive advantage in capital costs for investors.
Dong Van V Industrial Park – Logistics adds industrial supply
In response to the wave of production relocation and the need for modern industrial infrastructure, on October 10, Western Pacific Group (WPG) started construction of Dong Van V Industrial Park - Phase 1 in Ninh Binh, with a scale of nearly 240 hectares and a total investment of about VND 2.900 billion.
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The project is located in the southern gateway area of Hanoi, directly connected to the Phap Van - Cau Gie Expressway, National Highway 1A and the North - South railway, helping to shorten the time of transporting raw materials and goods and increasing the ability to connect the region to airports, seaports and international border gates.
According to analysts, the implementation of Dong Van V is the next step in the strategy of developing the industrial park - logistics chain in the Red River Delta, aiming to form a cluster of production - support services. This model is consistent with the trend of restructuring the supply chain of FDI investors, which is shifting to areas with more reasonable land funds and investment costs.
WPG representative said that the industrial park is planned with synchronous technical infrastructure, including electricity, water supply and drainage, telecommunications and wastewater treatment systems according to environmental standards. Pre-built warehouses and business support services are deployed in parallel to shorten the operating time for investors.
The project area is oriented to attract businesses in the fields of electronics, precision mechanics, new materials and supporting industries - industries that Ninh Binh is prioritizing in its industrial development planning for the 2025-2030 period.
According to the Ninh Binh Department of Planning and Investment, new industrial projects are helping the locality expand its land fund for development, while shifting the economic structure towards increasing the proportion of industry and services, reducing dependence on traditional production.
“Our goal is not only to develop infrastructure, but also to create an integrated industrial-logistics ecosystem where FDI enterprises, domestic enterprises and supporting industries can connect and optimize the value chain,” said Mr. Tran Anh Vuong, General Director of WPG, at the groundbreaking ceremony of Dong Van V Industrial Park.
The internal traffic system of the industrial park is designed according to logistics standards, with the main axis of nearly 100 m, the secondary routes are 48-51 m wide, meeting the transportation of heavy goods. The power source is stably supplied from the 110kV transformer station, the clean water capacity reaches 9.600 m3/day and night and the wastewater treatment system is 7.500 m3/day and night, meeting the increasingly strict ESG standards of international partners.
The project area has high terrain, the drainage system is designed to prevent flooding, suitable for high-tech industries and sophisticated manufacturing. WPG also develops accompanying services such as recruitment, legal consulting, accounting and infrastructure maintenance, helping businesses focus resources on production.
According to Ms. Nguyen Nu Phuong Chau, WPG Business Director, nearly 11% of the total area – equivalent to 25 hectares – is reserved for trees and water surfaces. This is considered a planning factor associated with the commitment to sustainable development, towards a green industrial park model, in harmony between production, people and the environment.
The Dong Van V Industrial Park project is considered a strategic step in the roadmap to turn Ninh Binh into a centrally-run city by 2030. In the period 2025-2030, WPG plans to continue expanding with Dong Van VI Industrial Park, increasing the total investment scale in Ninh Binh to about 600 hectares, contributing to the formation of an industrial corridor in the South of the Capital region.
Source: Mekong Asean Electronic Newspaper
