Ha Nam province - a new manufacturing hub for SME expansion
Ha Nam province has become a favorable alternative investment destination for foreign business shifting their manufacturing plants to Vietnam.
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Ha Nam’s distinctive advantage, according to many investors, lies in its proximity to Hanoi. Strategically located at the centre of the North Central region, Ha Nam is an intersection of key transportation routes.
The province provides convenient access to neighbouring areas such as Hanoi, Hai Phong, Bac Ninh, Bac Giang, Thai Nguyen, and others. Additionally, it is home to some northern arterial routes, namely the Cau Gie-Ninh Binh Motorway, national road 1A, and the North-South Motorway.
Due to its ideal location near the major economic centre of Hanoi and its developed infrastructure, Ha Nam greatly facilitates the activities of transporting and trading goods.
Meanwhile, its industrial parks (IPs) feature a comprehensive infrastructure base, including transport, power, water supply system, and waste-water treatment stations that perfectly match businesses’ long-term development goals.
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| Located in the Dong Van 3 IP, the GNP Dong Van 3 project has all the geographical strengths of Ha Nam province. |
A new foreign direct investment (FDI) hub
With the cost being much more compelling compared to that in big cities like Hanoi and Ho Chi Minh City, Ha Nam is proving appealing for FDI, particularly for Japanese, Taiwanese, and South Korean enterprises.
Given that enterprises from these markets like to be surrounded by their own community, the province has witnessed growing communities of firms from Japan, Taiwan, and South Korea.
Some of the biggest foreign-invested projects are Honda’s 120 million USD factory in Japan, Seoul Semiconductor Vina's 300 million USD LED bulb manufacturing factory in South Korea, Qisda Corporation's 263 million USD LCD factory, and Wistron Corporation's 274 million USD high-tech electronics factory in Taiwan.
Dong Van III IP, in particular, has seen interest from several giant Taiwanese enterprises, such as Wistron, WNC, AVC, Qisda, and many others.
Defining that investment attraction is a main driving force for ground-breaking economic development, Ha Nam has stepped up its efforts and attracted many large enterprises to study the opportunities in the province.
In 2022, Ha Nam saw investment promotion activities in Japan, Taiwan, and South Korea. Planning to turn the province into a new manufacturing hub for small- and medium-sized enterprises (SMEs), it prioritises FDI in the fields of ICT, digital industry, biological and high-tech industry, mechanical engineering, vehicle assembly, and electronics.
Increasing demand for industrial property
In light of the China+1 strategy and personification policies, the recent trend of manufacturers expanding or shifting to Ha Nam has led to a hike in the number of suppliers moving to follow the queen bees.
The inflow of vendors along their supply chain results in a rising demand for ready-built factories and warehouses for lease. That is why the designated zones for supporting industries are one of the most distinctive points of the landscape in Ha Nam, which helps the province to entice many foreign SMEs, including Hotron Precision Electronic Industrial, Syncmold, Darfon, and Pham Thuyen Technology.
To meet the thirst for manufacturing, Ha Nam was also chosen by Gaw NP Industrial (GNP), a pioneer in developing industrial real estate for lease.
Located in a prime area in the Dong Van III Supporting Industrial Zone, GNP Dong Van 3 is an industrial real estate project on a 16-hectare site of land, which provides premium ready-built factories and warehouses for lease.
Expected to be available in the fourth quarter of this year, GNP Dong Van 3 is designed to maximise usable space with a column-free and robust structure that meets international standards.
Each block has a clear height of 6.5m, a floor load capacity of up to 3 tonnes per square metre, fire-resistant fixed partition walls, a two-way ventilation system, 3m-wide rolling doors, and transparent awnings for convenient cargo handling.
GNP will provide legal and policy support for foreign businesses shifting to Vietnam in relation to company setup procedures, business licences, and other necessary documents.
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| GNP Dong Van 3 is a ready-built factory and warehouse for lease project on a 16-ha site that will enter operation in the fourth quarter of 2023. |
GNP Dong Van 3 is a prestigious development by Gaw NP Capital, a joint venture between Gaw Capital Partners – an investor in Asian real estate with 35.2 billion USD in assets under management – and NP Capital – one of the most experienced investors and developers in Vietnam.
Apart from GNP Dong Van 3, GNP is also developing many other projects, such as the GNP Nam Dinh Vu Industrial Centre, an integrated factory and warehouse in Haiphong, and the GNP Yen Binh 1 and 2 ready-built factories for lease in Thai Nguyen province.
(Source: VIR)
