Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Nationwide Expansion Strategy
In a context of continued global trade uncertainties, WHA Group has unveiled a string of new investment plans in Vietnam, underlining its commitment to the country’s potential as a strategic production base. This proactive approach reflects a growing recognition of Vietnam’s role in the global supply chain, especially amid the complexities introduced by ongoing trade tensions, such as the US-China trade war.
Recently, WHA Group received in-principle approval for its WHA Smart Technology Industrial Zone 2 project in Thanh Hoa province. In a remarkable display of diplomatic collaboration, just days later, the group signed a memorandum of understanding to develop the Phu Cu industrial park in Hung Yen province, a ceremony witnessed by both the prime ministers of Thailand and Vietnam.
These consecutive moves come as the world grapples with the lasting effects of global economic challenges. As countries reevaluate their trade partnerships and manufacturing bases, WHA Group is seizing the moment to solidify its presence in Vietnam, particularly in the burgeoning northern region.
Focus on Northern Vietnam
WHA’s growing focus on Northern Vietnam aligns with the competitive landscape for industrial park developers in the area. Regions like Hung Yen are already home to major industrial zones such as Thang Long II and Pho Noi A, which boast well-developed infrastructure and attract a variety of industries. The push into these vibrant localities indicates WHA’s desire to establish a strong foothold in a region ripe for industrial development.
In Thanh Hoa, the WHA Smart Technology Industrial Zone 2 will be the second venture for the group following the WHA Smart Technology Industrial Zone 1, which spans 540 hectares and is being developed in three phases. The new project will cover nearly 175 hectares and represents a total investment of approximately $57 million, with around $9 million in direct equity from WHA. Set for completion within 36 months, this initiative aims to further establish Thanh Hoa as a key growth area for the company.
Historical Context and Future Aspirations
WHA made its historic debut in Vietnam back in 2017 with the establishment of the WHA Industrial Zone 1 in Nghe An, one of the largest industrial parks in the North Central region, spanning 3,200 hectares. This ambitious project is planned across seven phases through 2038, with a total investment projected to be around $1 billion. The first phase alone has seen an impressive occupancy rate exceeding 80%, while the second phase, currently under development, is already over 50% occupied, reflecting strong demand from tenants.
Late last year, the organization received investment approval for WHA Industrial Zone 2, situated in the Nam Cam Industrial Park of Nghe An, covering 183.37 hectares. This expansion signals WHA’s continuing commitment to develop comprehensive industrial solutions in Vietnam.
Competitive Landscape in Hung Yen
WHA continues to enhance its northward push by developing the Phu Cu Industrial Park in Hung Yen. This province is strategically located within Vietnam’s northern economic hub and offers favorable transport connectivity, yet faces stiff competition from 17 existing industrial parks that cumulatively span over 4,300 hectares. The province aims to scale up to 30 industrial parks by 2030, with a total planned area nearing 9,600 hectares.
As the competition intensifies, WHA’s established reputation in industrial property development positions it advantageously to attract prospective investors and tenants.
Southern Strategy and Broader Vision
In addition to expanding northward, WHA is ramping up an ambitious “southward” strategy. The group is exploring a new 400-hectare industrial park project in Thang Binh district, Quang Nam province, deliberately targeting investments in high-tech sectors such as automotive, electronics, healthcare, and logistics. Furthermore, in a significant move, WHA has proposed a large-scale industrial, urban, and service complex in Chau Duc district, Ba Ria–Vung Tau province.
These projects are expected to elevate WHA’s industrial property portfolio in both geographical dimensions and sectoral diversity, thereby enhancing its competitiveness in the region. Currently, the group oversees over 3 million square meters of industrial properties and manages 15 industrial zones in Thailand and Vietnam, amounting to a total industrial land area of 12,600 hectares. WHA’s zones host more than 1,110 corporate customers, cumulatively attracting over $46 billion in investments.
Commitment to Sustainability
As part of WHA’s broader vision, there’s a shift toward developing smart industrial parks that incorporate service ecosystems aligned with international sustainability standards. This approach aims to attract high-value manufacturing investments and fulfill the growing global demand for environmentally responsible practices.
This sustainable model is anchored in three core components: robust design and infrastructure quality, dependable utility delivery, and environmental stewardship, all while leveraging Industry 4.0 technologies. Notably, WHA has already implemented various sustainability initiatives at its project site in Nghe An province, which includes a unique biological wastewater treatment system that is both chemical-free and eco-friendly. Moreover, a centralized control room facilitates real-time monitoring of environmental parameters, ensuring higher safety and quality standards.
Further sustainable initiatives include the integration of solar energy solutions within WHA offices and LED street lighting to promote energy efficiency. Plans are underway to extend these innovative solutions across other projects throughout Vietnam, encompassing developments in Nghe An, Thanh Hoa, and potentially other regions.
With these bold moves, WHA Group is positioning itself not only as a leader in industrial real estate but also as a pioneer in sustainable development practices, thus shaping the future landscape of manufacturing in Vietnam.