BAC NINH, Vietnam, April 17, 2024 – The industrial landscape of Vietnam is witnessing a significant transformation as KCN Vietnam Group JSC (KCN Vietnam) officially broke ground today on an ambitious ready-built factory and warehouse project in the Thuan Thanh III Industrial Park – Zone B, located in Bac Ninh province. This development marks KCN Vietnam’s inaugural venture in Bac Ninh and signals a strong commitment to enhancing the region’s industrial capabilities.
This new project spans an impressive 14 hectares and will deliver over 90,000 square meters of top-tier ready-built facilities for lease, promising to draw interest from various industries, including high-tech, clean technology, electronics, light industry, and food processing. The strategic location of the project near Hanoi’s northeastern gateway enhances its accessibility, making it an appealing site for businesses seeking to expand their operations in Vietnam.
Bac Ninh province has steadily established itself as a key player in Vietnam’s industrial sector, particularly attracting foreign direct investment (FDI) from Northeast Asian countries such as China, Japan, and South Korea. According to recent reports from the Foreign Investment Agency under the Ministry of Planning and Investment, Bac Ninh ranked second nationally in FDI attraction in the first quarter of 2024, securing nearly USD 745.2 million, which accounts for approximately 12.1% of the total investment in Vietnam. This impressive statistic underscores the province’s robust industrial infrastructure and attractive investment climate.
KCN Vietnam is also actively investing in the Northern region with several other projects in major economic areas, such as Deep C in Hai Phong, Tan Hung in Bac Giang, and An Phat in Hai Duong. The company aims to enhance economic development across Vietnam, particularly in high-potential regions like Bac Ninh, through its ready-built factory and warehouse project.
The latest development adheres to modern industrial standards, featuring optimal ceiling heights, well-equipped fire-fighting systems, and efficient loading areas complete with dock levelers. KCN Vietnam also maintains a strong commitment to sustainability, implementing solar power systems designed to conserve energy and support environmental preservation efforts.
In addition to developing high-quality infrastructure, KCN Vietnam is dedicated to providing comprehensive support to businesses throughout their investment journey in Vietnam. The company offers insights into market dynamics, investment climate, and tax incentives while guiding investors through registration procedures and business establishment. Their extensive services cover legal, tax, accounting, and human resources consultation, significantly easing the entry process for foreign investors.
Mr. Nguyen Duc Cao, Deputy Head of Bac Ninh Industrial Zones Management Board, expressed enthusiasm for KCN Vietnam’s investment in the region. He stated, “We are thrilled and value KCN Vietnam’s decision to establish this ready-built warehouse and factory project in Bac Ninh. It will serve as a vital precedent in enhancing our capacity to attract FDI and promote swift socio-economic progress in the area.” This sentiment highlights the collaborative spirit driving the region’s industrial growth.
Commenting on the project, Mr. Truong Khac Nguyen Minh, Deputy General Director of KCN Vietnam, mentioned the company’s commitment to assisting businesses through sustainable development. He remarked, “We believe our new project in Bac Ninh will provide investors with high-quality options in Northern Vietnam’s key economic area. KCN Vietnam will continue to intensify investments and develop further industrial projects nationwide.” This commitment signals a positive outlook for the region’s growth and attractiveness to foreign businesses.
KCN Vietnam’s readiness to harness its strategic location and pledge to sustainable investment practices positions its factory and warehouse project in Bac Ninh as a potential focal point for future foreign investment. The development is expected to spur growth in the local economy, generate job opportunities, and elevate the quality of life for residents, contributing to the overall advancement of Bac Ninh province and the national economy.
ABOUT KCN VIETNAM
Established in 2021, KCN Vietnam emerged in response to the increasing demand for premium industrial rental properties. The company’s mission revolves around developing and managing industrial and logistical infrastructures that facilitate businesses in leveraging Vietnam’s sustainable growth. So far, KCN Vietnam has secured an initial land acquisition of approximately 200 hectares with an investment exceeding 300 million USD.
The company aspires to expand its portfolio further, positioning KCN Vietnam as the leading local industrial property provider. The long-term vision encompasses becoming the primary choice for customer needs while playing a pivotal role in establishing Vietnam as a sustainable industrial hub on the global stage.
Recognition for KCN Vietnam’s excellence includes being awarded the Best Industrial Developer title at the Vietnam Outstanding Property Awards 2023 by Nhip Cau Dau Tu Magazine and being ranked among the Top 10 Developers in Vietnam at the BCI Asia Awards in 2023.