Chinese conglomerate Songshan Lake targets 250-hectare tech industrial park in northern Vietnam.

In an ambitious move aimed at bolstering Vietnam’s economic landscape, Songshan Lake, a major conglomerate from Guangdong province in China, has unveiled plans to invest in a high-tech industrial park in the northern province of Vinh Phuc. This proposed development will cover an impressive area of 250 hectares, setting the stage for significant economic progress in the region.

During a recent meeting with Vinh Phuc’s provincial leaders, Xia Yuxiong, the chairman of Songshan Lake, detailed the company’s extensive operational scope. The conglomerate is not just limited to high-tech pursuits; it also delves into real estate, education, health care, and financial services. Presently, they manage five high-tech parks in China, with around 600 active businesses thriving within them.

A notable highlight of their portfolio is the Songshan Lake Hi-Tech Industrial Development Zone, which occupies roughly 1,500 hectares and boasts an astounding investment exceeding $2.4 billion. This zone houses myriad high-tech firms, research institutions, and innovation centers, earning its reputation as a model for high-tech parks in Guangdong province.

Xia expressed optimism that the Vinh Phuc authorities would facilitate the group’s research and survey efforts, essential for crafting a modern high-tech industrial park. He highlighted the need for ready-to-use infrastructure, factories, and support services that would seamlessly integrate into the provincial landscape, ultimately contributing to the region’s socio-economic development.

The new industrial park aims to attract investments in crucial technological fields, including medical equipment, semiconductor components, printed circuit boards (PCBs), robotics, and automation devices. By focusing on these high-tech sectors, the initiative seeks to elevate Vietnam’s position in the global technological landscape.

Responding to Songshan Lake’s proposal, Vinh Phuc’s provincial leaders committed to creating a conducive environment for business and production activities. This includes enhanced infrastructure development for industrial parks and transportation alongside an improved investment climate aimed at attracting high-caliber projects.

In alignment with the province’s development strategy, the provincial People’s Committee has tasked relevant departments with supporting Songshan Lake in its investment research and facilitating the swift implementation of the project. This reflects a shared vision for progress between the local government and international investors.

Presently, Vinh Phuc is home to nine operational industrial parks, successfully attracting over 480 Foreign Direct Investment (FDI) projects with total registered capital exceeding $8.5 billion. Among these projects, 106, valued at $1.7 billion, originate from China (including Taiwan), marking the country as the fifth-largest investor in the province.

In the first quarter of 2025 alone, Vinh Phuc issued new investment registration certificates to five FDI projects totaling $21 million, while also approving capital increases for ten projects, amounting to $51.29 million. This achievement reflects 14.5% of the investment target set for 2024 by the provincial People’s Council.

In the previous year, specifically 2024, Vinh Phuc successfully attracted $600 million in FDI, surpassing its target and marking an impressive 50% increase from earlier projections. This growth trajectory positions Vinh Phuc as a significant player in the competition for foreign investment in Vietnam, showcasing its readiness to embrace high-tech advancements and foster a thriving industrial ecosystem.